Exelixis, Inc. (NASDAQ:EXEL) Expected to Earn Q1 2024 Earnings of $0.10 Per Share

Exelixis, Inc. (NASDAQ:EXEL) – Stock analysts at Leerink Partnrs issued their Q1 2024 earnings per share (EPS) estimates for Exelixis in a research note issued to investors on Wednesday, April 24th. Leerink Partnrs analyst A. Berens anticipates that the biotechnology company will post earnings per share of $0.10 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.

A number of other analysts have also recently weighed in on the company. TheStreet upgraded Exelixis from a “c+” rating to a “b-” rating in a research note on Monday, March 18th. JMP Securities restated a “market outperform” rating and issued a $27.00 price target on shares of Exelixis in a research note on Wednesday, April 10th. William Blair reiterated an “outperform” rating on shares of Exelixis in a research report on Friday, January 26th. 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 report on Thursday, April 11th. Finally, Stifel Nicolaus lifted their target price on Exelixis from $23.00 to $25.00 and gave the stock a “hold” rating in a research report on Friday, February 2nd. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $26.29.

Exelixis Price Performance

Exelixis stock opened at $23.46 on Monday. Exelixis has a 1-year low of $18.21 and a 1-year high of $24.34. The stock has a market cap of $6.92 billion, a PE ratio of 36.66, a P/E/G ratio of 0.62 and a beta of 0.54. The stock’s fifty day moving average is $22.86 and its two-hundred day moving average is $22.21.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported $0.27 earnings per share 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 company had revenue of $479.65 million for the quarter, compared to analysts’ expectations of $481.23 million.

Insider Buying and Selling at Exelixis

In other Exelixis news, Director David Edward Johnson purchased 190,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was bought at an average cost of $20.70 per share, for a total transaction of $3,933,000.00. Following the acquisition, the director now owns 1,100,730 shares of the company’s stock, valued at approximately $22,785,111. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Exelixis news, Director David Edward Johnson purchased 190,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was bought at an average cost of $20.70 per share, for a total transaction of $3,933,000.00. Following the acquisition, the director now owns 1,100,730 shares of the company’s stock, valued at approximately $22,785,111. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alan M. Garber sold 19,205 shares of the business’s stock in a transaction 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 directly owns 35,703 shares of the company’s stock, valued at $857,229.03. The disclosure for this sale can be found here. 2.85% of the stock is currently owned by insiders.

Institutional Trading of Exelixis

Several institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its stake in shares of Exelixis by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,364,480 shares of the biotechnology company’s stock valued at $80,714,000 after buying an additional 28,840 shares during the period. First Trust Advisors LP grew its stake in shares of Exelixis by 18.5% during the 4th quarter. First Trust Advisors LP now owns 3,152,755 shares of the biotechnology company’s stock valued at $75,635,000 after buying an additional 492,613 shares during the period. Norges Bank purchased a new stake in shares of Exelixis during the 4th quarter valued at $73,449,000. FMR LLC boosted its position in Exelixis by 9.3% during the 3rd quarter. FMR LLC now owns 2,884,424 shares of the biotechnology company’s stock worth $63,025,000 after purchasing an additional 246,605 shares during the period. Finally, Los Angeles Capital Management LLC boosted its position in 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 worth $58,240,000 after purchasing an additional 2,220,150 shares during the period. 85.27% of the stock is owned by hedge funds and other 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.