FY2018 Earnings Estimate for Exelixis, Inc. Issued By SunTrust Banks (EXEL)
Exelixis, Inc. (NASDAQ:EXEL) – SunTrust Banks lifted their FY2018 EPS estimates for shares of Exelixis in a report released on Monday. SunTrust Banks analyst P. Lawson now forecasts that the biotechnology company will earn $0.62 per share for the year, up from their previous forecast of $0.60. SunTrust Banks currently has a “Buy” rating and a $35.00 price objective on the stock. SunTrust Banks also issued estimates for Exelixis’ FY2019 earnings at $1.13 EPS and FY2020 earnings at $1.51 EPS.
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, 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 analysts’ expectations of $85.27 million. During the same period in the prior year, the company earned ($0.15) EPS. The business’s revenue was up 173.1% compared to the same quarter last year.
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Other equities analysts also recently issued reports about the stock. Cann reaffirmed a “hold” rating on shares of Exelixis in a research note on Monday. Zacks Investment Research raised shares of Exelixis from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Wednesday. Needham & Company LLC lifted their target price on shares of Exelixis from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday. Leerink Swann downgraded shares of Exelixis from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $34.00 to $28.00 in a research note on Friday, September 22nd. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Exelixis in a research note on Monday. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Exelixis presently has a consensus rating of “Buy” and an average target price of $31.38.
Exelixis (EXEL) traded down 1.59% during mid-day trading on Wednesday, reaching $27.85. 3,152,191 shares of the company were exchanged. Exelixis has a 1-year low of $10.04 and a 1-year high of $29.50. The company has a market capitalization of $8.19 billion, a price-to-earnings ratio of 140.66 and a beta of 1.91. The company has a 50 day moving average of $26.24 and a 200-day moving average of $23.95.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc increased its stake in Exelixis by 1.3% during the 1st quarter. Legal & General Group Plc now owns 84,763 shares of the biotechnology company’s stock worth $1,834,000 after buying an additional 1,078 shares during the period. Aperio Group LLC increased its stake in Exelixis by 2.7% during the 2nd quarter. Aperio Group LLC now owns 58,345 shares of the biotechnology company’s stock worth $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% during the 2nd quarter. Teacher Retirement System of Texas now owns 23,251 shares of the biotechnology company’s stock worth $573,000 after buying an additional 1,517 shares during the period. Meeder Asset Management Inc. increased its stake in Exelixis by 26.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 9,957 shares of the biotechnology company’s stock worth $245,000 after buying an additional 2,091 shares during the period. Finally, Oppenheimer & Co. Inc. increased its stake in Exelixis by 17.7% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 14,128 shares of the biotechnology company’s stock worth $348,000 after buying an additional 2,129 shares during the period. 79.20% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Stelios Papadopoulos sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $27.68, for a total transaction of $5,536,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Patrick J. Haley sold 60,640 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $27.21, for a total transaction of $1,650,014.40. The disclosure for this sale can be found here. Insiders sold a total of 970,152 shares of company stock worth $25,923,457 over the last three months. Insiders own 5.10% of the company’s stock.
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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