William Blair Has Positive View of Exelixis FY2024 Earnings

Exelixis, Inc. (NASDAQ:EXEL) – Analysts at William Blair upped their FY2024 earnings per share estimates for shares of Exelixis in a research report issued on Sunday, January 12th. William Blair analyst A. Hsieh now expects that the biotechnology company will earn $1.74 per share for the year, up from their previous forecast of $1.68. The consensus estimate for Exelixis’ current full-year earnings is $1.69 per share. William Blair also issued estimates for Exelixis’ Q4 2024 earnings at $0.45 EPS, Q1 2025 earnings at $0.39 EPS, Q2 2025 earnings at $0.42 EPS, Q3 2025 earnings at $0.43 EPS and Q4 2025 earnings at $0.43 EPS.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The firm had revenue of $539.50 million for the quarter, compared to analyst estimates of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 earnings per share.

A number of other brokerages also recently commented on EXEL. Piper Sandler boosted their target price on shares of Exelixis from $36.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday. Stifel Nicolaus increased their price objective on Exelixis from $26.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Stephens boosted their target price on Exelixis from $23.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. Finally, TD Cowen raised their price objective on shares of Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Exelixis currently has an average rating of “Moderate Buy” and a consensus price target of $33.75.

Exelixis Trading Down 2.0 %

Shares of NASDAQ:EXEL opened at $35.30 on Tuesday. Exelixis has a 52 week low of $20.01 and a 52 week high of $36.97. The company’s 50 day moving average is $34.90 and its two-hundred day moving average is $28.99. The company has a market cap of $10.08 billion, a PE ratio of 22.63, a P/E/G ratio of 0.88 and a beta of 0.53.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new stake in shares of Exelixis during the 3rd quarter valued at approximately $30,000. Brooklyn Investment Group acquired a new position in Exelixis during the third quarter worth $42,000. Capital Performance Advisors LLP purchased a new stake in Exelixis during the third quarter worth $61,000. Essex Investment Management Co. LLC acquired a new stake in Exelixis in the third quarter valued at $74,000. Finally, GAMMA Investing LLC increased its position in shares of Exelixis by 50.0% in the third quarter. GAMMA Investing LLC now owns 3,010 shares of the biotechnology company’s stock valued at $78,000 after buying an additional 1,004 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Insider Activity

In other Exelixis news, EVP Patrick J. Haley sold 41,588 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.36, for a total transaction of $1,428,963.68. Following the transaction, the executive vice president now owns 288,665 shares in the company, valued at approximately $9,918,529.40. The trade was a 12.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the transaction, the executive vice president now directly owns 486,059 shares of the company’s stock, valued at approximately $17,823,783.53. This trade represents a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 314,736 shares of company stock valued at $10,849,110. 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.