Exelixis, Inc. Expected to Earn Q3 2017 Earnings of $0.07 Per Share (EXEL)
Exelixis, Inc. (NASDAQ:EXEL) – Equities research analysts at Oppenheimer Holdings issued their Q3 2017 earnings estimates for Exelixis in a note issued to investors on Thursday. Oppenheimer Holdings analyst L. Cann anticipates that the biotechnology company will post earnings of $0.07 per share for the quarter. Oppenheimer Holdings has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Exelixis’ Q4 2017 earnings at $0.05 EPS and FY2017 earnings at $0.23 EPS.
Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.02. Exelixis had a return on equity of 80.43% and a net margin of 18.20%. The company had revenue of $99.01 million for the quarter, compared to analyst estimates of $85.27 million. During the same quarter last year, the firm earned ($0.15) EPS. Exelixis’s revenue for the quarter was up 173.1% compared to the same quarter last year. WARNING: “Exelixis, Inc. Expected to Earn Q3 2017 Earnings of $0.07 Per Share (EXEL)” was reported by American Banking News and is the property of of American Banking News. If you are accessing this piece on another site, it was stolen and republished in violation of United States and international copyright law. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2017/08/07/exelixis-inc-expected-to-earn-q3-2017-earnings-of-0-07-per-share-exel.html.
EXEL has been the topic of a number of other research reports. Piper Jaffray Companies reiterated a “buy” rating and set a $29.00 target price on shares of Exelixis in a research note on Thursday. Cann reissued a “hold” rating on shares of Exelixis in a research report on Wednesday, April 19th. Zacks Investment Research downgraded Exelixis from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 28th. Deutsche Bank AG downgraded Exelixis from a “buy” rating to a “hold” rating and increased their price target for the stock from $26.00 to $29.00 in a research report on Thursday. Finally, SunTrust Banks, Inc. started coverage on Exelixis in a research report on Thursday, July 13th. They set a “buy” rating and a $33.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Exelixis currently has an average rating of “Buy” and an average target price of $25.57.
Shares of Exelixis (NASDAQ EXEL) opened at 26.66 on Monday. The stock’s 50 day moving average price is $24.89 and its 200 day moving average price is $21.88. The firm has a market cap of $7.84 billion, a price-to-earnings ratio of 138.85 and a beta of 1.89. Exelixis has a one year low of $9.00 and a one year high of $28.45.
In related news, insider Patrick J. Haley sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $18.46, for a total transaction of $92,300.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Carl B. Feldbaum sold 32,988 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $21.58, for a total value of $711,881.04. Following the sale, the director now directly owns 52,721 shares in the company, valued at approximately $1,137,719.18. The disclosure for this sale can be found here. Insiders have sold 349,288 shares of company stock worth $7,594,312 in the last three months. 5.10% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. Fortaleza Asset Management Inc. acquired a new stake in shares of Exelixis during the first quarter worth $106,000. First Quadrant L P CA acquired a new stake in shares of Exelixis during the second quarter worth $144,000. Meeder Asset Management Inc. acquired a new stake in shares of Exelixis during the first quarter worth $170,000. Wetherby Asset Management Inc. acquired a new stake in shares of Exelixis during the second quarter worth $218,000. Finally, Capstone Asset Management Co. acquired a new stake in shares of Exelixis during the second quarter worth $242,000. 80.19% of the stock is currently owned by hedge funds and other institutional investors.
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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