Exelixis, Inc. to Post Q4 2023 Earnings of $0.25 Per Share, Zacks Research Forecasts (NASDAQ:EXEL)

Exelixis, Inc. (NASDAQ:EXELFree Report) – Equities researchers at Zacks Research lifted their Q4 2023 earnings per share (EPS) estimates for shares of Exelixis in a research report issued to clients and investors on Tuesday, January 16th. Zacks Research analyst E. Bagri now forecasts that the biotechnology company will post earnings per share of $0.25 for the quarter, up from their prior forecast of $0.21. The consensus estimate for Exelixis’ current full-year earnings is $0.62 per share. Zacks Research also issued estimates for Exelixis’ Q2 2024 earnings at $0.26 EPS, Q4 2024 earnings at $0.33 EPS, FY2024 earnings at $1.09 EPS, Q1 2025 earnings at $0.30 EPS, Q2 2025 earnings at $0.31 EPS, Q3 2025 earnings at $0.31 EPS, Q4 2025 earnings at $0.32 EPS and FY2025 earnings at $1.23 EPS.

Exelixis (NASDAQ:EXELGet Free Report) last issued its quarterly earnings data on Wednesday, November 1st. The biotechnology company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.07). The business had revenue of $471.90 million for the quarter, compared to the consensus estimate of $473.31 million. Exelixis had a net margin of 5.19% and a return on equity of 3.71%. Exelixis’s revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.23 EPS.

EXEL has been the topic of several other reports. Citigroup initiated coverage on shares of Exelixis in a research report on Friday, December 15th. They set a “buy” rating and a $31.00 target price on the stock. TheStreet downgraded Exelixis from a “b” rating to a “c+” rating in a research note on Monday, October 9th. Bank of America upped their target price on Exelixis from $25.00 to $27.00 in a research report on Thursday, October 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $26.00 price target on shares of Exelixis in a research report on Wednesday, December 13th. Finally, HC Wainwright assumed coverage on shares of Exelixis in a report on Tuesday, September 26th. They set a “buy” rating and a $28.00 price objective for the company. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.17.

Read Our Latest Report on EXEL

Exelixis Stock Performance

Exelixis stock opened at $22.54 on Thursday. Exelixis has a 1-year low of $16.15 and a 1-year high of $24.34. The firm’s fifty day simple moving average is $22.51 and its 200-day simple moving average is $21.50. The company has a market capitalization of $7.01 billion, a P/E ratio of 80.50, a P/E/G ratio of 0.71 and a beta of 0.59.

Insider Activity at Exelixis

In other Exelixis news, Director David Edward Johnson purchased 120,409 shares of the stock in a transaction on Monday, November 27th. The shares were purchased at an average price of $21.61 per share, with a total value of $2,602,038.49. Following the acquisition, the director now directly owns 910,730 shares of the company’s stock, valued at approximately $19,680,875.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Patrick J. Haley sold 14,149 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $22.50, for a total transaction of $318,352.50. Following the completion of the transaction, the executive vice president now owns 307,687 shares in the company, valued at approximately $6,922,957.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David Edward Johnson purchased 120,409 shares of the stock in a transaction on Monday, November 27th. The stock was bought at an average price of $21.61 per share, for a total transaction of $2,602,038.49. Following the completion of the transaction, the director now directly owns 910,730 shares of the company’s stock, valued at $19,680,875.30. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 114,149 shares of company stock worth $2,587,603. 2.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Exelixis

Several institutional investors and hedge funds have recently made changes to their positions in the company. Contravisory Investment Management Inc. acquired a new stake in shares of Exelixis during the fourth quarter worth approximately $26,000. Fifth Third Bancorp grew its holdings in shares of Exelixis by 100.9% during the second quarter. Fifth Third Bancorp now owns 1,366 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 686 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in shares of Exelixis by 189.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,440 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 943 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of Exelixis in the second quarter valued at $28,000. Finally, Covestor Ltd raised its holdings in shares of Exelixis by 245.6% in the first quarter. Covestor Ltd now owns 1,676 shares of the biotechnology company’s stock valued at $38,000 after buying an additional 1,191 shares during the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

Exelixis Company Profile

(Get Free Report)

Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines 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.

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Earnings History and Estimates for Exelixis (NASDAQ:EXEL)

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