Exelixis, Inc. to Post Q3 2017 Earnings of $0.07 Per Share, Leerink Swann Forecasts (EXEL)
Exelixis, Inc. (NASDAQ:EXEL) – Research analysts at Leerink Swann dropped their Q3 2017 earnings per share (EPS) estimates for Exelixis in a report issued on Monday. Leerink Swann analyst M. Schmidt now anticipates that the biotechnology company will post earnings of $0.07 per share for the quarter, down from their prior forecast of $0.08. Leerink Swann has a “Market Perform” rating and a $28.00 price objective on the stock.
Exelixis (NASDAQ:EXEL) last released its earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.02. The firm had revenue of $99.01 million during the quarter, compared to analyst estimates of $85.27 million. Exelixis had a net margin of 18.20% and a return on equity of 80.43%. The business’s revenue was up 173.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.15) EPS. WARNING: This report was first published by American Banking News and is owned by of American Banking News. If you are reading this report on another site, it was illegally stolen and reposted in violation of United States & international copyright & trademark laws. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/10/12/exelixis-inc-to-post-q3-2017-earnings-of-0-07-per-share-leerink-swann-forecasts-exel.html.
A number of other brokerages also recently commented on EXEL. William Blair reissued an “outperform” rating on shares of Exelixis in a research report on Friday, June 16th. Zacks Investment Research raised shares of Exelixis from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Tuesday. Cann reissued a “hold” rating on shares of Exelixis in a research report on Thursday, July 20th. BidaskClub raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 25th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $26.00 price objective on shares of Exelixis in a research report on Thursday, August 3rd. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $29.50.
Exelixis (EXEL) opened at 25.65 on Thursday. Exelixis has a 52-week low of $10.04 and a 52-week high of $29.50. The firm’s 50-day moving average is $26.39 and its 200-day moving average is $23.88. The firm has a market cap of $7.54 billion, a price-to-earnings ratio of 129.55 and a beta of 1.91.
In related news, insider Michael Morrissey sold 300,000 shares of Exelixis stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $26.90, for a total transaction of $8,070,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lance Willsey sold 100,000 shares of Exelixis stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $26.88, for a total transaction of $2,688,000.00. Following the sale, the director now directly owns 518,273 shares of the company’s stock, valued at approximately $13,931,178.24. The disclosure for this sale can be found here. Insiders have sold a total of 970,152 shares of company stock valued at $25,923,457 in the last ninety days. 5.10% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its holdings in shares of Exelixis by 2.0% during the 2nd quarter. FMR LLC now owns 43,748,695 shares of the biotechnology company’s stock worth $1,077,530,000 after buying an additional 857,452 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Exelixis by 7.2% during the 2nd quarter. Vanguard Group Inc. now owns 25,441,964 shares of the biotechnology company’s stock worth $626,635,000 after buying an additional 1,706,893 shares during the period. Meditor Group Ltd boosted its holdings in shares of Exelixis by 5.5% during the 2nd quarter. Meditor Group Ltd now owns 20,229,713 shares of the biotechnology company’s stock worth $498,258,000 after buying an additional 1,046,000 shares during the period. BlackRock Inc. boosted its holdings in shares of Exelixis by 33,678.5% during the 1st quarter. BlackRock Inc. now owns 19,155,466 shares of the biotechnology company’s stock worth $415,099,000 after buying an additional 19,098,757 shares during the period. Finally, Matrix Capital Management Company LP boosted its holdings in shares of Exelixis by 8.8% during the 2nd quarter. Matrix Capital Management Company LP now owns 15,117,460 shares of the biotechnology company’s stock worth $372,343,000 after buying an additional 1,225,000 shares during the period. 79.20% of the stock is owned by institutional investors and hedge funds.
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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