Brokers Issue Forecasts for Exelixis, Inc.’s Q4 2024 Earnings (NASDAQ:EXEL)

Exelixis, Inc. (NASDAQ:EXEL – Get Rating) – Zacks Research boosted their Q4 2024 earnings per share estimates for shares of Exelixis in a report released on Monday, May 22nd. Zacks Research analyst E. Bagri now anticipates that the biotechnology company will earn $0.29 per share for the quarter, up from their previous estimate of $0.26. The consensus estimate for Exelixis’ current full-year earnings is $0.65 per share. Zacks Research also issued estimates for Exelixis’ Q1 2025 earnings at $0.27 EPS.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus increased their price target on Exelixis from $20.00 to $21.00 in a research note on Wednesday, May 10th. StockNews.com started coverage on Exelixis in a research note on Thursday, May 18th. They set a “buy” rating for the company. EF Hutton Acquisition Co. I reaffirmed a “buy” rating and set a $24.00 target price on shares of Exelixis in a research note on Friday, March 3rd. Morgan Stanley decreased their target price on Exelixis from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 12th. Finally, Wells Fargo & Company started coverage on Exelixis in a research note on Thursday, March 9th. They set an “overweight” rating and a $23.00 target price for the company. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Exelixis presently has a consensus rating of “Moderate Buy” and an average target price of $25.33.

Exelixis Price Performance

Shares of NASDAQ EXEL opened at $19.03 on Wednesday. Exelixis has a 1-year low of $14.87 and a 1-year high of $22.47. The business’s fifty day moving average price is $19.17 and its two-hundred day moving average price is $17.64. The firm has a market capitalization of $6.20 billion, a PE ratio of 39.65, a P/E/G ratio of 0.81 and a beta of 0.68.

Insider Transactions at Exelixis

In related news, Director Jack L. Wyszomierski sold 15,300 shares of Exelixis stock in a transaction on Friday, March 10th. The stock was sold at an average price of $16.61, for a total transaction of $254,133.00. Following the completion of the sale, the director now directly owns 317,467 shares of the company’s stock, valued at $5,273,126.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Exelixis news, EVP Jeffrey Hessekiel sold 38,930 shares of the firm’s stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $20.01, for a total value of $778,989.30. Following the sale, the executive vice president now owns 582,435 shares of the company’s stock, valued at approximately $11,654,524.35. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jack L. Wyszomierski sold 15,300 shares of the firm’s stock in a transaction on Friday, March 10th. The stock was sold at an average price of $16.61, for a total value of $254,133.00. Following the transaction, the director now directly owns 317,467 shares of the company’s stock, valued at $5,273,126.87. The disclosure for this sale can be found here. In the last quarter, insiders have sold 132,100 shares of company stock valued at $2,367,039. 2.90% of the stock is owned by corporate insiders.

Institutional Trading of Exelixis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brandywine Global Investment Management LLC purchased a new position in Exelixis in the first quarter valued at approximately $17,350,000. Toroso Investments LLC lifted its stake in Exelixis by 54.9% in the first quarter. Toroso Investments LLC now owns 26,856 shares of the biotechnology company’s stock valued at $521,000 after purchasing an additional 9,518 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of Exelixis by 13.9% during the first quarter. Mercer Global Advisors Inc. ADV now owns 32,533 shares of the biotechnology company’s stock worth $631,000 after acquiring an additional 3,970 shares in the last quarter. IMA Wealth Inc. purchased a new stake in shares of Exelixis during the first quarter worth $3,955,000. Finally, Colony Group LLC lifted its position in shares of Exelixis by 30.1% during the first quarter. Colony Group LLC now owns 23,790 shares of the biotechnology company’s stock worth $462,000 after acquiring an additional 5,500 shares in the last quarter. 84.74% of the stock is owned by institutional investors.

About Exelixis

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Exelixis, Inc operates as an oncology company, which focuses on discovering, developing, and commercialization of new medicines for difficult-to-treat cancers. Its products include cabometyx, cometriq, and cotellic. The company was founded by Stelios Papadopoulos on November 15, 1994, and is headquartered in Alameda, CA.