Exelixis (NASDAQ:EXEL) Announces Earnings Results

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

Exelixis Price Performance

Shares of NASDAQ:EXEL traded down $0.69 during trading on Tuesday, hitting $32.81. 2,181,111 shares of the company’s stock were exchanged, compared to its average volume of 2,496,625. Exelixis has a 52-week low of $20.01 and a 52-week high of $37.59. The business’s 50-day simple moving average is $34.35 and its 200 day simple moving average is $30.64. The company has a market cap of $9.37 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 0.63 and a beta of 0.53.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wells Fargo & Company increased their target price on Exelixis from $32.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Piper Sandler increased their target price on Exelixis from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, January 13th. UBS Group increased 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. Truist Financial raised their price objective on Exelixis from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Brookline Capital Management initiated coverage on Exelixis in a research note on Monday, December 23rd. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.06.

About Exelixis

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.