Exelixis, Inc. (NASDAQ:EXEL) – SunTrust Banks upped their FY2017 earnings per share estimates for shares of Exelixis in a report released on Wednesday. SunTrust Banks analyst P. Lawson now expects that the biotechnology company will post earnings per share of $0.19 for the year, up from their previous estimate of $0.11. SunTrust Banks has a “Buy” rating and a $33.00 price target on the stock.

A number of other brokerages have also weighed in on EXEL. William Blair reissued an “outperform” rating on shares of Exelixis in a report on Thursday, July 27th. Cann reissued a “hold” rating on shares of Exelixis in a report on Thursday, July 20th. Stifel Nicolaus reissued a “hold” rating and issued a $26.00 price objective on shares of Exelixis in a report on Thursday. Piper Jaffray Companies reissued a “buy” rating and issued a $29.00 price objective on shares of Exelixis in a report on Thursday. Finally, Deutsche Bank AG lowered Exelixis from a “buy” rating to a “hold” rating and increased their price objective for the company from $26.00 to $29.00 in a report on Thursday. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $25.57.

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Exelixis (NASDAQ:EXEL) opened at 26.66 on Monday. Exelixis has a 12 month low of $9.00 and a 12 month high of $28.45. The stock has a market capitalization of $7.84 billion, a PE ratio of 138.85 and a beta of 1.89. The firm has a 50-day moving average price of $24.89 and a 200 day moving average price of $21.88.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. The business had revenue of $99.01 million for the quarter, compared to analysts’ expectations of $85.27 million. Exelixis had a return on equity of 80.43% and a net margin of 18.20%. The business’s revenue for the quarter was up 173.1% on a year-over-year basis. During the same period last year, the firm posted ($0.15) earnings per share.

A number of hedge funds have recently bought and sold shares of EXEL. BlackRock Inc. raised its stake in Exelixis by 33,678.5% in the first quarter. BlackRock Inc. now owns 19,155,466 shares of the biotechnology company’s stock valued at $415,099,000 after buying an additional 19,098,757 shares during the period. Swiss National Bank raised its stake in Exelixis by 18.4% in the first quarter. Swiss National Bank now owns 448,400 shares of the biotechnology company’s stock valued at $9,717,000 after buying an additional 69,700 shares during the period. Credit Suisse AG raised its stake in 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. Martingale Asset Management L P raised its stake in Exelixis by 5.9% in the first quarter. Martingale Asset Management L P now owns 59,428 shares of the biotechnology company’s stock valued at $1,288,000 after buying an additional 3,301 shares during the period. Finally, Meeder Asset Management Inc. raised its stake in Exelixis by 26.6% in the second quarter. Meeder Asset Management Inc. now owns 9,957 shares of the biotechnology company’s stock valued at $245,000 after buying an additional 2,091 shares during the period. 80.19% of the stock is currently owned by hedge funds and other institutional investors.

In related news, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carl B. Feldbaum sold 32,988 shares of the firm’s stock in a transaction dated 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 $1,137,719.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 349,288 shares of company stock worth $7,594,312. 5.10% of the stock is owned by corporate 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.

Earnings History and Estimates for Exelixis (NASDAQ:EXEL)

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