Exelixis (NASDAQ:EXEL) Posts Earnings Results, Beats Estimates By $0.20 EPS

Exelixis (NASDAQ:EXEL) issued its quarterly earnings results on Tuesday. The biotechnology company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.20, FiscalAI reports. Exelixis had a return on equity of 31.06% and a net margin of 29.63%.

Exelixis Stock Down 2.2%

Shares of Exelixis stock traded down $0.97 during mid-day trading on Tuesday, hitting $42.98. The stock had a trading volume of 3,243,680 shares, compared to its average volume of 2,536,050. Exelixis has a 12-month low of $32.38 and a 12-month high of $49.62. The firm has a 50-day moving average of $43.70 and a two-hundred day moving average of $40.94. The firm has a market cap of $11.52 billion, a P/E ratio of 18.14, a price-to-earnings-growth ratio of 0.74 and a beta of 0.42.

Insider Buying and Selling at Exelixis

In other news, EVP Patrick J. Haley sold 34,187 shares of the stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $41.88, for a total value of $1,431,751.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Stelios Papadopoulos sold 100,000 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $43.55, for a total transaction of $4,355,000.00. Following the completion of the transaction, the director owned 1,189,228 shares of the company’s stock, valued at approximately $51,790,879.40. The trade was a 7.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 172,230 shares of company stock valued at $7,401,923. Company insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Several hedge funds have recently modified their holdings of EXEL. Cim LLC raised its stake in shares of Exelixis by 0.9% during the 3rd quarter. Cim LLC now owns 35,397 shares of the biotechnology company’s stock worth $1,462,000 after buying an additional 305 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Exelixis by 9.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 6,065 shares of the biotechnology company’s stock worth $250,000 after purchasing an additional 508 shares during the last quarter. American Trust grew its holdings in Exelixis by 14.7% during the 3rd quarter. American Trust now owns 5,588 shares of the biotechnology company’s stock valued at $231,000 after buying an additional 718 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Exelixis by 1,380.4% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company’s stock worth $34,000 after buying an additional 773 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its position in Exelixis by 134.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 944 shares in the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

EXEL has been the subject of a number of research reports. Wolfe Research began coverage on Exelixis in a research report on Tuesday, November 18th. They set a “peer perform” rating for the company. Barclays lifted their price objective on shares of Exelixis from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Wednesday, February 4th. Oppenheimer reaffirmed a “market perform” rating and issued a $36.00 price objective on shares of Exelixis in a research note on Wednesday, November 5th. Guggenheim lowered Exelixis from a “buy” rating to a “neutral” rating in a research report on Monday, November 3rd. Finally, Wells Fargo & Company cut their price target on shares of Exelixis from $36.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.16.

Exelixis Company Profile

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.