Leerink Swann Equities Analysts Cut Earnings Estimates for Exelixis, Inc. (NASDAQ:EXEL)
Exelixis, Inc. (NASDAQ:EXEL) – Research analysts at Leerink Swann reduced their FY2019 earnings per share estimates for Exelixis in a report released on Thursday. Leerink Swann analyst M. Schmidt now anticipates that the biotechnology company will post earnings of $1.53 per share for the year, down from their prior forecast of $1.54. Leerink Swann also issued estimates for Exelixis’ FY2020 earnings at $2.13 EPS.
EXEL has been the topic of a number of other reports. BidaskClub raised shares of Exelixis from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. TheStreet raised shares of Exelixis from a “d” rating to a “c+” rating in a report on Tuesday, May 2nd. Zacks Investment Research raised shares of Exelixis from a “hold” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a report on Tuesday, July 4th. William Blair reissued an “outperform” rating on shares of Exelixis in a report on Thursday, July 27th. Finally, SunTrust Banks, Inc. initiated coverage on shares of Exelixis in a report on Thursday, July 13th. They issued a “buy” rating and a $33.00 price target on the stock. Five 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 stock has an average rating of “Buy” and a consensus price target of $25.57.
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Exelixis (NASDAQ EXEL) opened at 26.605 on Monday. The company has a market capitalization of $7.82 billion, a price-to-earnings ratio of 138.568 and a beta of 1.89. Exelixis has a 12-month low of $9.00 and a 12-month high of $28.45. The firm has a 50-day moving average of $24.89 and a 200 day moving average of $21.88.
Exelixis (NASDAQ:EXEL) last released its earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. Exelixis had a net margin of 18.20% and a return on equity of 80.43%. The firm had revenue of $99.01 million for the quarter, compared to analyst estimates of $85.27 million. During the same period last year, the firm earned ($0.15) EPS. The business’s quarterly revenue was up 173.1% compared to the same quarter last year.
A number of large investors have recently made changes to their positions in EXEL. Fortaleza Asset Management Inc. bought a new stake in shares of Exelixis during the first quarter worth $106,000. First Quadrant L P CA bought a new stake in shares of Exelixis during the second quarter worth $144,000. Meeder Asset Management Inc. bought a new stake in shares of Exelixis during the first quarter worth $170,000. Wetherby Asset Management Inc. bought a new stake in shares of Exelixis during the second quarter worth $218,000. Finally, Capstone Asset Management Co. bought a new stake in shares of Exelixis during the second quarter worth $242,000. 80.19% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Patrick J. Haley sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $18.46, for a total value of $92,300.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael Morrissey sold 211,300 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $21.87, for a total transaction of $4,621,131.00. The disclosure for this sale can be found here. Insiders sold 349,288 shares of company stock worth $7,594,312 over the last ninety 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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