Summary Points:
- Exelixis reports a remarkable 31% revenue increase in Q1, surpassing analyst expectations.
- The biotech company's shares rise on strong earnings and increased full-year revenue guidance.
- Analysts provide mixed target prices, with an average suggesting modest upside potential.
Exelixis (EXEL, Financial) shares surged in after-hours trading, driven by the company's impressive first-quarter financial performance. The biotech firm's revenue soared by 31%, reaching $555.45 million and outpacing analysts’ forecasts. Adjusted earnings per share hit $0.62, significantly above the anticipated $0.44. In response to this robust performance, Exelixis revised its full-year revenue forecast, now projecting between $2.25 billion and $2.35 billion.
Analyst Expectations for Exelixis
Exelixis Inc (EXEL, Financial) is currently under the scrutiny of 19 analysts who have set a one-year price target range. The average target price stands at $37.95, with estimates spanning from a high of $45.00 to a low of $29.00. This average target indicates a potential upside of 2.70% from the current trading price of $36.95. For detailed projections, refer to the Exelixis Inc (EXEL) Forecast page.
The consensus recommendation from 20 brokerage firms positions Exelixis Inc's (EXEL, Financial) average brokerage recommendation at 2.3, classifying the stock as "Outperform." On the rating scale, 1 corresponds to a Strong Buy, while 5 indicates a Sell.
According to GF Value estimates by GuruFocus, the fair value of Exelixis Inc (EXEL, Financial) in one year is projected at $31.73. This estimate suggests a potential downside of 14.13% from the current price of $36.95. The GF Value metric is GuruFocus' assessment of a stock’s fair trading value, calculated through historical trading multiples, past business growth, and future performance estimates. Further details can be accessed on the Exelixis Inc (EXEL) Summary page.
