Q1 2024 Earnings Forecast for Exelixis, Inc. (NASDAQ:EXEL) Issued By Zacks Research

Exelixis, Inc. (NASDAQ:EXEL) – Investment analysts at Zacks Research lifted their Q1 2024 earnings per share (EPS) estimates for shares of Exelixis in a report released on Monday, April 8th. Zacks Research analyst E. Bagri now anticipates that the biotechnology company will post earnings per share of $0.22 for the quarter, up from their previous estimate of $0.21. The consensus estimate for Exelixis’ current full-year earnings is $1.22 per share. Zacks Research also issued estimates for Exelixis’ Q3 2024 earnings at $0.29 EPS, FY2024 earnings at $1.10 EPS, Q2 2025 earnings at $0.35 EPS, Q3 2025 earnings at $0.36 EPS, Q4 2025 earnings at $0.36 EPS, FY2025 earnings at $1.37 EPS and FY2026 earnings at $1.38 EPS.

A number of other research firms have also recently commented on EXEL. Stifel Nicolaus raised their target price on Exelixis from $23.00 to $25.00 and gave the company a “hold” rating in a research report on Friday, February 2nd. BTIG Research assumed coverage on Exelixis in a research report on Tuesday, December 19th. They set a “buy” rating and a $27.00 target price on the stock. William Blair reiterated an “outperform” rating on shares of Exelixis in a report on Friday, January 26th. JMP Securities reiterated a “market outperform” rating and issued a $27.00 price objective on shares of Exelixis in a report on Wednesday. Finally, Barclays lifted their price objective on Exelixis from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Exelixis has a consensus rating of “Moderate Buy” and a consensus target price of $26.29.

Exelixis Stock Down 0.2 %

NASDAQ:EXEL opened at $23.68 on Wednesday. Exelixis has a 52 week low of $18.08 and a 52 week high of $24.34. The stock has a market capitalization of $7.18 billion, a PE ratio of 37.00, a price-to-earnings-growth ratio of 0.62 and a beta of 0.54. The stock’s 50-day moving average price is $22.26 and its 200-day moving average price is $22.10.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, February 6th. The biotechnology company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. Exelixis had a return on equity of 8.57% and a net margin of 11.35%. The firm had revenue of $479.65 million for the quarter, compared to analysts’ expectations of $481.23 million.

Insiders Place Their Bets

In other news, Director Alan M. Garber sold 19,205 shares of Exelixis stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $24.01, for a total transaction of $461,112.05. Following the sale, the director now owns 35,703 shares of the company’s stock, valued at approximately $857,229.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Alan M. Garber sold 19,205 shares of Exelixis stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $24.01, for a total transaction of $461,112.05. Following the sale, the director now owns 35,703 shares of the company’s stock, valued at approximately $857,229.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Patrick J. Haley sold 47,020 shares of Exelixis stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $21.45, for a total transaction of $1,008,579.00. Following the sale, the executive vice president now directly owns 384,866 shares in the company, valued at approximately $8,255,375.70. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Exelixis

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Exelixis in the fourth quarter worth $50,953,000. Los Angeles Capital Management LLC grew its stake in shares of Exelixis by 948.3% in the first quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock worth $58,240,000 after acquiring an additional 2,220,150 shares in the last quarter. Krensavage Asset Management LLC acquired a new position in shares of Exelixis in the first quarter worth $41,457,000. Acadian Asset Management LLC grew its stake in shares of Exelixis by 1,043.9% in the third quarter. Acadian Asset Management LLC now owns 1,957,848 shares of the biotechnology company’s stock worth $42,750,000 after acquiring an additional 1,786,687 shares in the last quarter. Finally, BlackRock Inc. grew its stake in shares of Exelixis by 4.9% in the first quarter. BlackRock Inc. now owns 36,214,174 shares of the biotechnology company’s stock worth $702,917,000 after acquiring an additional 1,683,880 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Exelixis Company Profile

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.