Exelixis Inc. (NASDAQ: EXEL) stock fell -1.53% on Thursday to $19.03 against a previous-day closing price of $19.33. With 2.22 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.01 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $19.30 whereas the lowest price it dropped to was $18.75. The 52-week range on EXEL shows that it touched its highest point at $22.47 and its lowest point at $14.87 during that stretch. It currently has a 1-year price target of $25.31. Beta for the stock currently stands at 0.67.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of EXEL was down-trending over the past week, with a drop of -3.55%, but this was up by 3.14% over a month. Three-month performance surged to 11.09% while six-month performance rose 11.16%. The stock gained 7.51% in the past year, while it has gained 18.64% so far this year. A look at the trailing 12-month EPS for EXEL yields 0.47 with Next year EPS estimates of 0.91. For the next quarter, that number is 0.14. This implies an EPS growth rate of -21.60% for this year and 46.68% for next year. EPS is expected to grow by 27.10% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 2.60%.
Float and Shares Shorts:
At present, 324.42 million EXEL shares are outstanding with a float of 315.46 million shares on hand for trading. On May 14, 2023, short shares totaled 7.41 million, which was 2.28% higher than short shares on Apr 13, 2023. In addition to Dr. Stelios Papadopoulos Ph.D. as the firm’s Co-Founder & Independent Chair of the Board, Dr. Michael M. Morrissey Ph.D. serves as its CEO, Pres & Director.
Other institutions hold 47.02% of EXEL, in contrast to 40.37% held by mutual funds. Shares owned by individuals account for 3.68%. As the largest shareholder in EXEL with 10.07% of the stake, The Vanguard Group, Inc. holds 32,628,417 shares worth 32,628,417. A second-largest stockholder of EXEL, BlackRock Fund Advisors, holds 30,795,516 shares, controlling over 9.50% of the firm’s shares. Farallon Capital Management LLC is the third largest shareholder in EXEL, holding 23,466,000 shares or 7.24% stake. With a 3.12% stake in EXEL, the iShares Core S&P Mid Cap ETF is the largest stakeholder. A total of 10,113,210 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.11% of EXEL stock, is the second-largest Mutual Fund holder. It holds 10,073,556 shares valued at 184.35 million. Vanguard Small Cap Index Fund holds 2.62% of the stake in EXEL, owning 8,479,532 shares worth 155.18 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, EXEL reported revenue of $419.43M and operating income of $83.71M. The EBITDA in the recently reported quarter was $88.48M and diluted EPS was $0.22.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for EXEL since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With EXEL analysts setting a high price target of $32.00 and a low target of $17.00, the average target price over the next 12 months is $25.40. Based on these targets, EXEL could surge 68.16% to reach the target high and fall by -10.67% to reach the target low. Reaching the average price target will result in a growth of 33.47% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded EXEL stock several times over the past three months with 11 Buys and 5 Sells. In these transactions, 873,224 shares were bought while 214,590 shares were sold. The number of buy transactions has increased to 34 while that of sell transactions has risen to 32 over the past year. The total number of shares bought during that period was 1,978,882 while 942,210 shares were sold.