Q3 2024 Earnings Forecast for Exelixis, Inc. Issued By William Blair (NASDAQ:EXEL)

Exelixis, Inc. (NASDAQ:EXEL) – Equities researchers at William Blair lowered their Q3 2024 earnings per share (EPS) estimates for shares of Exelixis in a report issued on Wednesday, May 1st. William Blair analyst A. Hsieh now expects that the biotechnology company will post earnings per share of $0.27 for the quarter, down from their previous forecast of $0.28. William Blair has a “Outperform” rating on the stock. The consensus estimate for Exelixis’ current full-year earnings is $1.23 per share. William Blair also issued estimates for Exelixis’ 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.

Exelixis (NASDAQ:EXEL) last announced its 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 company had revenue of $425.23 million for the quarter, compared to the consensus estimate of $461.04 million. Exelixis had a return on equity of 8.85% and a net margin of 11.10%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.12 EPS.

A number of other brokerages have also commented on EXEL. HC Wainwright reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Exelixis in a report on Friday. Royal Bank of Canada raised their price target on shares of Exelixis from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. TD Cowen boosted their price objective on shares of Exelixis from $25.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday. Barclays cut shares of 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. Finally, TheStreet upgraded shares of Exelixis from a “c+” rating to a “b-” rating in a research report on Monday, March 18th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.33.

Exelixis Trading Down 1.0 %

Exelixis stock opened at $21.90 on Friday. The company has a market capitalization of $6.38 billion, a price-to-earnings ratio of 34.22, a PEG ratio of 0.57 and a beta of 0.57. The stock’s 50 day moving average is $22.97 and its 200-day moving average is $22.22. Exelixis has a 12 month low of $18.52 and a 12 month high of $24.34.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EXEL. Charles Schwab Investment Management Inc. grew its stake 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 last quarter. First Trust Advisors LP grew its position in shares of Exelixis by 18.5% in 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 last quarter. Norges Bank acquired a new stake in shares of Exelixis in the fourth quarter valued at about $73,449,000. FMR LLC raised its position in shares of Exelixis by 9.3% during the third quarter. FMR LLC now owns 2,884,424 shares of the biotechnology company’s stock worth $63,025,000 after acquiring an additional 246,605 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted 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 during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.

Insider Buying and Selling at Exelixis

In related news, Director Alan M. Garber sold 19,205 shares of the company’s 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 completion of the transaction, the director now directly owns 35,703 shares in the company, valued at approximately $857,229.03. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Exelixis news, EVP Patrick J. Haley sold 47,020 shares of the company’s stock in a transaction dated 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 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Alan M. Garber sold 19,205 shares of Exelixis 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 directly owns 35,703 shares in the company, valued at $857,229.03. The disclosure for this sale can be found here. Company insiders own 2.85% of the company’s stock.

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.