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

Exelixis, Inc. (NASDAQ:EXEL) – Equities researchers at Leerink Partnrs issued their Q1 2024 earnings per share (EPS) estimates for shares of Exelixis in a report released 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.

Other research analysts also recently issued research reports about the company. William Blair restated an “outperform” rating on shares of Exelixis in a research note on Friday, January 26th. Royal Bank of Canada lifted their price target on Exelixis from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. JMP Securities reiterated a “market outperform” rating and set a $27.00 price target on shares of Exelixis in a research report on Wednesday, April 10th. Barclays downgraded Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price target for the company. in a research report on Thursday, April 11th. Finally, TheStreet upgraded Exelixis from a “c+” rating to a “b-” rating in a research report on Monday, March 18th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.29.

Exelixis Stock Down 1.1 %

Shares of NASDAQ EXEL opened at $23.46 on Monday. Exelixis has a 52 week low of $18.21 and a 52 week high of $24.34. The business has a 50-day simple moving average of $22.86 and a two-hundred day simple moving average of $22.21. The company has a market cap of $6.92 billion, a P/E ratio of 36.66, a P/E/G ratio of 0.62 and a beta of 0.54.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, February 6th. The biotechnology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.25 by $0.02. Exelixis had a return on equity of 8.57% and a net margin of 11.35%. The business had revenue of $479.65 million during the quarter, compared to the consensus estimate of $481.23 million.

Insiders Place Their Bets

In related news, Director David Edward Johnson purchased 190,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were acquired at an average cost of $20.70 per share, with a total value of $3,933,000.00. Following the purchase, the director now directly owns 1,100,730 shares of the company’s stock, valued at $22,785,111. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Exelixis news, Director David Edward Johnson bought 190,000 shares of Exelixis stock in a transaction dated Wednesday, February 21st. The shares were purchased at an average cost of $20.70 per share, with a total value of $3,933,000.00. Following the completion of the purchase, the director now owns 1,100,730 shares of the company’s stock, valued at $22,785,111. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Alan M. Garber sold 19,205 shares of the business’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 value of $461,112.05. Following the transaction, 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. Insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Exelixis

Several hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its stake in shares of Exelixis by 0.9% during the fourth 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 boosted its position in shares of Exelixis by 18.5% during the fourth quarter. First Trust Advisors LP now owns 3,152,755 shares of the biotechnology company’s stock valued at $75,635,000 after purchasing an additional 492,613 shares in the last quarter. Norges Bank bought a new stake in shares of Exelixis during the fourth quarter valued at approximately $73,449,000. FMR LLC boosted 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 valued at $63,025,000 after purchasing an additional 246,605 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in shares of Exelixis by 948.3% during the first quarter. Los Angeles Capital Management LLC now owns 2,454,277 shares of the biotechnology company’s stock valued at $58,240,000 after purchasing an additional 2,220,150 shares in the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Exelixis Company Profile

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.