Exelixis (NASDAQ:EXEL) Announces Earnings Results

Exelixis (NASDAQ:EXEL) announced its quarterly earnings data on Tuesday. The biotechnology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.16), Briefing.com reports. The firm had revenue of $425.23 million for the quarter, compared to analysts’ expectations of $461.04 million. Exelixis had a return on equity of 8.62% and a net margin of 11.10%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 EPS. Exelixis updated its FY 2024 guidance to EPS.

Exelixis Trading Down 6.5 %

Shares of NASDAQ EXEL opened at $21.93 on Thursday. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 34.26, a PEG ratio of 0.61 and a beta of 0.57. Exelixis has a 52 week low of $18.52 and a 52 week high of $24.34. The company’s 50-day moving average price is $22.92 and its 200 day moving average price is $22.22.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Royal Bank of Canada upped their price objective on shares of Exelixis from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. William Blair restated an “outperform” rating on shares of Exelixis in a research report on Wednesday. TheStreet upgraded shares of Exelixis from a “c+” rating to a “b-” rating in a report on Monday, March 18th. JMP Securities reiterated a “market outperform” rating and issued a $27.00 price target on shares of Exelixis in a report on Wednesday, April 10th. Finally, Barclays downgraded shares of Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price target for the company. in a report on Thursday, April 11th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.33.

Insider Activity at Exelixis

In related news, Director Alan M. Garber sold 19,205 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $24.01, for a total value of $461,112.05. Following the sale, the director now directly owns 35,703 shares of the company’s stock, valued at approximately $857,229.03. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Exelixis news, EVP Patrick J. Haley sold 47,020 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $21.45, for a total transaction of $1,008,579.00. Following the sale, the executive vice president now directly owns 384,866 shares of the company’s stock, valued at approximately $8,255,375.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan M. Garber sold 19,205 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $24.01, for a total transaction of $461,112.05. Following the sale, 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. 2.85% of the stock is owned by corporate insiders.

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.