FY2018 EPS Estimates for Exelixis, Inc. Raised by Leerink Swann (NASDAQ:EXEL)
Exelixis, Inc. (NASDAQ:EXEL) – Equities researchers at Leerink Swann increased their FY2018 EPS estimates for Exelixis in a report issued on Thursday. Leerink Swann analyst M. Schmidt now expects that the biotechnology company will post earnings of $0.66 per share for the year, up from their prior estimate of $0.62.
Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Monday, May 1st. The biotechnology company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The firm had revenue of $80.90 million for 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 business’s revenue was up 425.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.27) earnings per share.
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A number of other brokerages have also recently commented on EXEL. Cann reiterated a “hold” rating on shares of Exelixis in a research report on Wednesday, April 19th. Zacks Investment Research cut shares of Exelixis from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 28th. SunTrust Banks, Inc. assumed coverage on shares of Exelixis in a research report on Thursday, July 13th. They issued a “buy” rating and a $33.00 target price on the stock. Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Exelixis in a research report on Friday, April 21st. Finally, TheStreet upgraded shares of Exelixis from a “d” rating to a “c+” rating in a research report on Tuesday, May 2nd. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Exelixis currently has a consensus rating of “Buy” and an average price target of $20.95.
Shares of Exelixis (NASDAQ EXEL) traded up 0.6062% during midday trading on Friday, hitting $27.1536. The stock had a trading volume of 1,502,119 shares. The company has a market cap of $7.94 billion, a price-to-earnings ratio of 1293.0286 and a beta of 1.88. The stock’s 50-day moving average price is $23.04 and its 200 day moving average price is $21.23. Exelixis has a 52 week low of $8.58 and a 52 week high of $27.63.
Large investors have recently added to or reduced their stakes in the company. Fortaleza Asset Management Inc. purchased a new stake in Exelixis during the first quarter valued at about $106,000. First Quadrant L P CA purchased a new stake in Exelixis during the second quarter valued at about $144,000. Meeder Asset Management Inc. purchased a new stake in Exelixis during the first quarter valued at about $170,000. Atlantic Trust Group LLC purchased a new stake in Exelixis during the first quarter valued at about $216,000. Finally, Klingenstein Fields & Co. LLC purchased a new stake in Exelixis during the first quarter valued at about $217,000. Hedge funds and other institutional investors own 80.82% of the company’s stock.
In other news, insider Michael Morrissey sold 259,149 shares of the firm’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $22.24, for a total value of $5,763,473.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patrick J. Haley sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $18.46, for a total transaction of $92,300.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 709,647 shares of company stock valued at $15,673,068. 5.10% of the stock is owned by company insiders.
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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