Exelixis (NASDAQ:EXEL) Earns “Outperform” Rating from William Blair

William Blair reaffirmed their outperform rating on shares of Exelixis (NASDAQ:EXEL) in a report published on Wednesday, RTT News reports. William Blair also issued estimates for Exelixis’ Q3 2024 earnings at $0.27 EPS, Q1 2025 earnings at $0.26 EPS, Q2 2025 earnings at $0.29 EPS, Q3 2025 earnings at $0.30 EPS and Q4 2025 earnings at $0.32 EPS.

A number of other research firms have also issued reports on EXEL. Barclays lowered Exelixis from an overweight rating to an equal weight rating and set a $25.00 target price on the stock. in a report on Thursday, April 11th. Royal Bank of Canada boosted their target price on Exelixis from $26.00 to $28.00 and gave the company an outperform rating in a report on Wednesday, February 7th. JMP Securities reissued a market outperform rating and issued a $27.00 target price on shares of Exelixis in a report on Wednesday, April 10th. Stifel Nicolaus boosted their target price on Exelixis from $23.00 to $25.00 and gave the company a hold rating in a report on Friday, February 2nd. Finally, TheStreet raised Exelixis from a c+ rating to a b- rating in a report on Monday, March 18th. Six 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. According to MarketBeat, Exelixis has a consensus rating of Moderate Buy and an average price target of $26.33.

Exelixis Stock Down 1.0 %

EXEL opened at $21.90 on Wednesday. The firm has a market cap of $6.38 billion, a price-to-earnings ratio of 34.22, a price-to-earnings-growth ratio of 0.57 and a beta of 0.57. Exelixis has a 52 week low of $18.52 and a 52 week high of $24.34. The business’s 50 day moving average is $22.97 and its two-hundred day moving average is $22.22.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.16). The firm had revenue of $425.23 million for the quarter, compared to analyst estimates of $461.04 million. Exelixis had a return on equity of 8.85% and a net margin of 11.10%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the firm earned $0.12 EPS. Equities analysts expect that Exelixis will post 1.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other Exelixis news, Director Alan M. Garber sold 19,205 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was 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 in the company, valued at $857,229.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Exelixis news, Director Alan M. Garber sold 19,205 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was 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 in the company, valued at $857,229.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Patrick J. Haley sold 47,020 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $21.45, for a total value of $1,008,579.00. Following the sale, the executive vice president now owns 384,866 shares in the company, valued at $8,255,375.70. The disclosure for this sale can be found here. 2.85% of the stock is owned by company insiders.

Institutional Trading of Exelixis

Several institutional investors and hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP purchased a new stake in shares of Exelixis in the first quarter valued at $1,281,000. Nordea Investment Management AB lifted its position in shares of Exelixis by 17.3% in the first quarter. Nordea Investment Management AB now owns 202,292 shares of the biotechnology company’s stock valued at $4,835,000 after acquiring an additional 29,784 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Exelixis by 6.1% in the first quarter. Janney Montgomery Scott LLC now owns 60,746 shares of the biotechnology company’s stock valued at $1,442,000 after acquiring an additional 3,510 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Exelixis by 3.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,771 shares of the biotechnology company’s stock valued at $778,000 after acquiring an additional 1,301 shares in the last quarter. Finally, Smith Group Asset Management LLC purchased a new stake in shares of Exelixis in the first quarter valued at $228,000. 85.27% of the stock is currently 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.