Exelixis, Inc. (NASDAQ:EXEL) – Research analysts at Leerink Swann raised their FY2017 earnings estimates for shares of Exelixis in a note issued to investors on Monday. Leerink Swann analyst M. Schmidt now anticipates that the biotechnology company will earn $0.26 per share for the year, up from their prior estimate of $0.25. Leerink Swann currently has a “Market Perform” rating and a $28.00 target price on the stock. Leerink Swann also issued estimates for Exelixis’ Q4 2017 earnings at $0.08 EPS.

Several other equities research analysts also recently commented on EXEL. William Blair restated an “outperform” rating on shares of Exelixis in a research report on Friday, June 16th. BidaskClub upgraded shares of Exelixis from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. Zacks Investment Research upgraded shares of Exelixis from a “hold” rating to a “strong-buy” rating and set a $28.00 price target for the company in a research report on Tuesday, July 4th. SunTrust Banks, Inc. initiated coverage on shares of Exelixis in a research report on Thursday, July 13th. They issued a “buy” rating and a $33.00 price target for the company. Finally, Cann restated a “hold” rating on shares of Exelixis in a research report on Thursday, July 20th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $29.50.

COPYRIGHT VIOLATION WARNING: “Exelixis, Inc. (EXEL) Expected to Earn FY2017 Earnings of $0.26 Per Share” was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of United States and international trademark and copyright legislation. The original version of this story can be accessed at https://www.americanbankingnews.com/2017/10/11/exelixis-inc-exel-expected-to-earn-fy2017-earnings-of-0-26-per-share.html.

Shares of Exelixis (NASDAQ:EXEL) opened at 25.94 on Wednesday. The stock has a market capitalization of $7.62 billion, a PE ratio of 131.01 and a beta of 1.91. The firm has a 50-day moving average of $26.43 and a 200 day moving average of $23.87. Exelixis has a 1-year low of $10.04 and a 1-year high of $29.50.

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

In other Exelixis news, VP Patrick J. Haley sold 60,640 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $27.21, for a total value of $1,650,014.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Christopher J. Senner sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $26.79, for a total transaction of $2,679,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 970,152 shares of company stock worth $25,923,457. Company insiders own 5.10% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc increased its stake in Exelixis by 1.3% in the 1st quarter. Legal & General Group Plc now owns 84,763 shares of the biotechnology company’s stock valued at $1,834,000 after buying an additional 1,078 shares during the period. Aperio Group LLC increased its stake in Exelixis by 2.7% in the 2nd quarter. Aperio Group LLC now owns 58,345 shares of the biotechnology company’s stock valued at $1,437,000 after buying an additional 1,514 shares during the period. Teacher Retirement System of Texas increased its stake in Exelixis by 7.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 23,251 shares of the biotechnology company’s stock valued at $573,000 after buying an additional 1,517 shares during the period. Meeder Asset Management Inc. increased its stake in Exelixis by 26.6% in the 2nd 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. Finally, Oppenheimer & Co. Inc. increased its stake in Exelixis by 17.7% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 14,128 shares of the biotechnology company’s stock valued at $348,000 after buying an additional 2,129 shares during the period. Hedge funds and other institutional investors own 79.20% of the company’s stock.

About Exelixis

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)

Receive News & Ratings for Exelixis Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exelixis Inc. and related companies with MarketBeat.com's FREE daily email newsletter.