FY2019 Earnings Estimate for Exelixis, Inc. (NASDAQ:EXEL) Issued By Leerink Swann
Exelixis, Inc. (NASDAQ:EXEL) – Equities researchers at Leerink Swann increased their FY2019 earnings per share (EPS) estimates for shares of Exelixis in a note issued to investors on Thursday. Leerink Swann analyst M. Schmidt now forecasts that the biotechnology company will post earnings of $1.54 per share for the year, up from their previous estimate of $1.28. Leerink Swann also issued estimates for Exelixis’ FY2020 earnings at $2.15 EPS.
Several other analysts have also weighed in on the company. Cann reissued a “hold” rating on shares of Exelixis in a report on Thursday. SunTrust Banks, Inc. initiated coverage on Exelixis in a report on Thursday, July 13th. They issued a “buy” rating and a $33.00 price objective for the company. Oppenheimer Holdings, Inc. initiated coverage on Exelixis in a report on Monday, June 12th. They issued a “hold” rating for the company. TheStreet raised Exelixis from a “d” rating to a “c+” rating in a report on Tuesday, May 2nd. Finally, BidaskClub upgraded Exelixis from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Exelixis has an average rating of “Buy” and a consensus price target of $20.95.
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Exelixis (EXEL) traded up 0.81% on Monday, hitting $27.45. The stock had a trading volume of 355,528 shares. The company’s 50-day moving average is $23.04 and its 200-day moving average is $21.23. Exelixis has a one year low of $8.58 and a one year high of $27.63. The stock has a market cap of $8.03 billion, a P/E ratio of 1307.14 and a beta of 1.87.
Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Monday, May 1st. The biotechnology company reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. Exelixis had a return on equity of 126.82% and a net margin of 1.37%. The company had revenue of $80.90 million for the quarter, compared to the consensus estimate of $65.23 million. During the same quarter in the prior year, the business earned ($0.27) EPS. Exelixis’s revenue was up 425.3% on a year-over-year basis.
A number of 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 worth $106,000. First Quadrant L P CA purchased a new stake in Exelixis during the second quarter worth $144,000. Meeder Asset Management Inc. purchased a new stake in Exelixis during the first quarter worth $170,000. Atlantic Trust Group LLC purchased a new stake in Exelixis during the first quarter worth $216,000. Finally, Klingenstein Fields & Co. LLC purchased a new stake in Exelixis during the first quarter worth $217,000. Hedge funds and other institutional investors own 80.85% of the company’s stock.
In other Exelixis news, insider Michael Morrissey sold 259,149 shares of the company’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $22.24, for a total value of $5,763,473.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Patrick J. Haley sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $18.46, for a total value of $92,300.00. The disclosure for this sale can be found here. Insiders sold 709,647 shares of company stock valued at $15,673,068 over the last 90 days. 5.10% of the stock is currently owned by insiders.
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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