$85.12 Million in Sales Expected for Exelixis, Inc. (EXEL) This Quarter
Equities analysts predict that Exelixis, Inc. (NASDAQ:EXEL) will post sales of $85.12 million for the current quarter, according to Zacks. Five analysts have issued estimates for Exelixis’ earnings, with the highest sales estimate coming in at $94.21 million and the lowest estimate coming in at $79.30 million. Exelixis posted sales of $36.25 million during the same quarter last year, which would indicate a positive year over year growth rate of 134.8%. The business is scheduled to report its next quarterly earnings results after the market closes on Wednesday, August 2nd.
On average, analysts expect that Exelixis will report full year sales of $85.12 million for the current financial year, with estimates ranging from $328.30 million to $403.47 million. For the next fiscal year, analysts expect that the business will report sales of $547.97 million per share, with estimates ranging from $440.70 million to $702.32 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Exelixis.
Exelixis (NASDAQ:EXEL) last posted its earnings results on Monday, May 1st. The biotechnology company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The firm had revenue of $80.90 million during the quarter, compared to the consensus estimate of $65.23 million. Exelixis had a return on equity of 126.82% and a net margin of 1.37%. The company’s quarterly revenue was up 425.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.27) EPS.
EXEL has been the topic of a number of recent research reports. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Exelixis in a research note on Monday, June 5th. William Blair reaffirmed an “outperform” rating on shares of Exelixis in a research note on Monday, June 26th. Needham & Company LLC initiated coverage on Exelixis in a research note on Friday, March 31st. They issued a “buy” rating and a $28.00 price target on the stock. Cann reaffirmed a “hold” rating on shares of Exelixis in a research note on Wednesday, April 19th. Finally, Zacks Investment Research raised Exelixis from a “hold” rating to a “strong-buy” rating and set a $29.00 price target on the stock in a research note on Tuesday, June 27th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $19.08.
In other Exelixis news, Director Carl B. Feldbaum sold 32,988 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $21.58, for a total transaction of $711,881.04. Following the sale, the director now owns 52,721 shares in the company, valued at approximately $1,137,719.18. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael Morrissey sold 259,149 shares of the company’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $22.24, for a total value of $5,763,473.76. The disclosure for this sale can be found here. Insiders sold a total of 709,647 shares of company stock worth $15,673,068 in the last quarter. Company insiders own 5.10% of the company’s stock.
Large investors have recently modified their holdings of the company. Point72 Asset Management L.P. bought a new stake in shares of Exelixis during the first quarter valued at $2,167,000. Credit Suisse AG increased its stake in shares of Exelixis by 20.1% in the first quarter. Credit Suisse AG now owns 768,110 shares of the biotechnology company’s stock valued at $16,646,000 after buying an additional 128,398 shares during the period. Paloma Partners Management Co bought a new stake in shares of Exelixis during the first quarter valued at $847,000. AQR Capital Management LLC increased its stake in shares of Exelixis by 54.3% in the first quarter. AQR Capital Management LLC now owns 798,904 shares of the biotechnology company’s stock valued at $17,312,000 after buying an additional 281,244 shares during the period. Finally, Gotham Asset Management LLC increased its stake in shares of Exelixis by 118.8% in the first quarter. Gotham Asset Management LLC now owns 924,289 shares of the biotechnology company’s stock valued at $20,029,000 after buying an additional 501,828 shares during the period. Institutional investors own 80.69% of the company’s stock.
Exelixis (NASDAQ EXEL) opened at 25.21 on Friday. Exelixis has a 52-week low of $7.81 and a 52-week high of $25.30. The company has a market capitalization of $7.37 billion, a P/E ratio of 1200.48 and a beta of 1.88. The stock’s 50 day moving average price is $20.79 and its 200-day moving average price is $20.23.
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Exelixis Company Profile
Exelixis, Inc is a biopharmaceutical company. The Company is focused on discovery, development and commercialization of new medicines to manage care and outcomes for people with cancer. The Company’s cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors.
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