Exelixis (NASDAQ:EXEL) Issues Earnings Results

Exelixis (NASDAQ:EXEL) issued its earnings results on Tuesday. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04, Zacks reports. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The business had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. During the same period last year, the business posted $0.10 EPS. Exelixis’s revenue was up 14.3% on a year-over-year basis. Exelixis updated its FY 2024 guidance to EPS.

Exelixis Price Performance

EXEL stock traded up $0.95 during trading on Friday, hitting $34.15. 2,799,218 shares of the company traded hands, compared to its average volume of 2,062,155. The stock’s 50-day simple moving average is $26.96 and its 200 day simple moving average is $24.21. Exelixis has a 1 year low of $19.20 and a 1 year high of $34.45. The company has a market cap of $9.75 billion, a PE ratio of 21.28, a P/E/G ratio of 0.69 and a beta of 0.54.

Insider Activity

In other Exelixis news, CFO Christopher J. Senner sold 125,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.19, for a total value of $3,398,750.00. Following the transaction, the chief financial officer now directly owns 721,680 shares of the company’s stock, valued at $19,622,479.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Exelixis news, CFO Christopher J. Senner sold 125,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.19, for a total value of $3,398,750.00. Following the completion of the transaction, the chief financial officer now owns 721,680 shares of the company’s stock, valued at $19,622,479.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jeffrey Hessekiel sold 25,000 shares of Exelixis stock in a transaction on Monday, October 28th. The stock was sold at an average price of $28.39, for a total transaction of $709,750.00. Following the sale, the executive vice president now directly owns 580,325 shares of the company’s stock, valued at approximately $16,475,426.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 352,858 shares of company stock worth $9,349,879 over the last three months. 2.85% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

EXEL has been the topic of a number of recent research reports. Stephens raised their price target on shares of Exelixis from $23.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Truist Financial upped their price objective on Exelixis from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday. JMP Securities reaffirmed a “market outperform” rating and set a $29.00 target price on shares of Exelixis in a research note on Friday, October 11th. The Goldman Sachs Group upgraded Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. Finally, BMO Capital Markets increased their price objective on Exelixis from $29.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.44.

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.