Leerink Partnrs Weighs in on Exelixis, Inc.’s Q1 2024 Earnings (NASDAQ:EXEL)

Exelixis, Inc. (NASDAQ:EXEL) – Leerink Partnrs issued their Q1 2024 earnings estimates for shares of Exelixis in a note issued to investors on Wednesday, April 24th. Leerink Partnrs analyst A. Berens forecasts that the biotechnology company will earn $0.10 per share for the quarter. The consensus estimate for Exelixis’ current full-year earnings is $1.23 per share. Leerink Partnrs also issued estimates for Exelixis’ FY2024 earnings at $1.15 EPS.

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

A number of other analysts also recently commented on the company. William Blair reaffirmed an “outperform” rating on shares of Exelixis in a research report on Friday, January 26th. Stifel Nicolaus upped their price objective on Exelixis from $23.00 to $25.00 and gave the company a “hold” rating in a research note on Friday, February 2nd. Barclays cut Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 target price on the stock. in a research note on Thursday, April 11th. TheStreet upgraded shares of Exelixis from a “c+” rating to a “b-” rating in a research report on Monday, March 18th. Finally, Royal Bank of Canada raised their price objective on shares of Exelixis from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.29.

Exelixis Price Performance

EXEL opened at $23.73 on Monday. Exelixis has a 1 year low of $18.21 and a 1 year high of $24.34. The company has a market capitalization of $7.00 billion, a price-to-earnings ratio of 37.08, a P/E/G ratio of 0.62 and a beta of 0.54. The firm’s fifty day moving average price is $22.86 and its two-hundred day moving average price is $22.21.

Insider Activity

In other Exelixis news, EVP Patrick J. Haley sold 47,020 shares of the business’s stock in a transaction 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 owns 384,866 shares of the company’s stock, valued at approximately $8,255,375.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Exelixis news, EVP Patrick J. Haley sold 47,020 shares of Exelixis stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $21.45, for a total transaction of $1,008,579.00. Following the completion of the transaction, the executive vice president now owns 384,866 shares of the company’s stock, valued at approximately $8,255,375.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alan M. Garber sold 19,205 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $24.01, for a total value of $461,112.05. Following the sale, the director now owns 35,703 shares in the company, valued at $857,229.03. The disclosure for this sale can be found here. Insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EXEL. Charles Schwab Investment Management Inc. increased its holdings in shares of Exelixis by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,364,480 shares of the biotechnology company’s stock worth $80,714,000 after purchasing an additional 28,840 shares during the period. First Trust Advisors LP increased its stake in Exelixis by 18.5% in the 4th quarter. First Trust Advisors LP now owns 3,152,755 shares of the biotechnology company’s stock worth $75,635,000 after acquiring an additional 492,613 shares during the last quarter. Norges Bank purchased a new stake in shares of Exelixis in the 4th quarter valued at about $73,449,000. FMR LLC raised its holdings in shares of Exelixis by 9.3% in the 3rd quarter. FMR LLC now owns 2,884,424 shares of the biotechnology company’s stock valued at $63,025,000 after acquiring an additional 246,605 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in shares of Exelixis by 948.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock valued at $58,240,000 after acquiring an additional 2,220,150 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

About Exelixis

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.