Exelixis (NASDAQ:EXEL) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Exelixis (NASDAQ:EXEL) issued its quarterly earnings results on Tuesday. The biotechnology company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.03), Zacks reports. Exelixis had a return on equity of 20.99% and a net margin of 22.43%.

Exelixis Price Performance

EXEL opened at $32.80 on Thursday. The stock has a market capitalization of $9.37 billion, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 0.63 and a beta of 0.53. The business has a 50-day moving average of $34.24 and a two-hundred day moving average of $30.72. Exelixis has a 12 month low of $20.14 and a 12 month high of $37.59.

Analyst Ratings Changes

Several brokerages recently weighed in on EXEL. Brookline Capital Management started coverage on Exelixis in a report on Monday, December 23rd. They set a “buy” rating for the company. UBS Group raised their target price on Exelixis from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Oppenheimer downgraded Exelixis from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $41.00 to $33.00 in a report on Friday, January 24th. TD Cowen raised their target price on Exelixis from $27.00 to $34.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Piper Sandler raised their target price on Exelixis from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Exelixis currently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Insider Buying and Selling at Exelixis

In other Exelixis news, EVP Jeffrey Hessekiel sold 60,000 shares of Exelixis stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the completion of the sale, the executive vice president now owns 486,059 shares in the company, valued at $17,823,783.53. The trade was a 10.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Patrick J. Haley sold 10,000 shares of Exelixis stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $35.27, for a total value of $352,700.00. Following the completion of the sale, the executive vice president now owns 278,665 shares of the company’s stock, valued at $9,828,514.55. This trade represents a 3.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,588 shares of company stock worth $3,981,864 in the last 90 days. 2.85% of the stock is owned by company 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.