Exelixis Inc. (EXEL) to Post Q3 2016 Earnings of ($0.12) Per Share, Leerink Swann Forecasts
Exelixis Inc. (NASDAQ:EXEL) – Equities research analysts at Leerink Swann decreased their Q3 2016 earnings estimates for Exelixis in a research note issued on Tuesday. Leerink Swann analyst M. Schmidt now forecasts that the firm will post earnings per share of ($0.12) for the quarter, down from their previous estimate of ($0.11). Leerink Swann currently has a “Positive” rating and a $15.00 price objective on the stock. Leerink Swann also issued estimates for Exelixis’ Q4 2016 earnings at ($0.05) EPS and FY2016 earnings at ($0.59) EPS.
EXEL has been the topic of several other reports. Piper Jaffray Cos. raised Exelixis from a “neutral” rating to an “overweight” rating in a research report on Monday. S&P Equity Research raised their price objective on Exelixis from $13.41 to $15.57 in a research report on Wednesday, September 28th. Stifel Nicolaus raised their price objective on Exelixis from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, September 15th. William Blair reissued an “outperform” rating on shares of Exelixis in a research report on Thursday, September 15th. Finally, Zacks Investment Research raised Exelixis from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research report on Tuesday, September 13th. Six analysts have rated the stock with a buy rating, Exelixis presently has an average rating of “Buy” and a consensus target price of $13.51.
Shares of Exelixis (NASDAQ:EXEL) traded up 0.08% during mid-day trading on Thursday, hitting $11.94. The company had a trading volume of 3,207,842 shares. The stock’s 50-day moving average is $12.71 and its 200-day moving average is $8.41. Exelixis has a 52-week low of $3.55 and a 52-week high of $15.58. The stock’s market cap is $2.75 billion.
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Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.11. The firm earned $36.25 million during the quarter, compared to analyst estimates of $16.76 million. The firm’s revenue for the quarter was up 353.7% compared to the same quarter last year. During the same period last year, the company earned ($0.22) earnings per share.
In other news, insider Gisela Schwab sold 42,338 shares of Exelixis stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $11.00, for a total transaction of $465,718.00. Following the sale, the insider now directly owns 174,354 shares of the company’s stock, valued at $1,917,894. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.90% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Fox Run Management L.L.C. raised its stake in shares of Exelixis by 12.5% in the third quarter. Fox Run Management L.L.C. now owns 11,700 shares of the biotechnology company’s stock worth $150,000 after buying an additional 1,300 shares during the last quarter. Seven Eight Capital LLC purchased a new position in Exelixis during the second quarter worth approximately $105,000. GSA Capital Partners LLP purchased a new position in Exelixis during the second quarter worth approximately $117,000. Acrospire Investment Management LLC increased its position in Exelixis by 444.4% in the second quarter. Acrospire Investment Management LLC now owns 15,253 shares of the biotechnology company’s stock worth $119,000 after buying an additional 12,451 shares during the period. Finally, Stifel Financial Corp increased its position in Exelixis by 25.7% in the second quarter. Stifel Financial Corp now owns 17,600 shares of the biotechnology company’s stock worth $138,000 after buying an additional 3,600 shares during the period. 81.80% of the stock is currently owned by institutional investors and hedge funds.
Exelixis, Inc is a biopharmaceutical company. The Company is engaged in developing small molecule therapies for the treatment of cancer. It focuses on the development and commercialization of cabozantinib, an inhibitor of multiple receptor tyrosine kinases, in various tumor indications. Cabozantinib is indicated for the treatment of progressive, metastatic medullary thyroid cancer, and is sold under the brand name COMETRIQ.
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