Exelixis, Inc. (EXEL) Releases Quarterly Earnings Results, Beats Estimates By $0.18 EPS
Exelixis, Inc. (NASDAQ:EXEL) issued its quarterly earnings results on Wednesday. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.18, Bloomberg Earnings reports. The company had revenue of $152.50 million during the quarter, compared to analyst estimates of $104.91 million. Exelixis had a net margin of 18.20% and a return on equity of 80.43%. Exelixis’s quarterly revenue was up 145.2% compared to the same quarter last year. During the same period last year, the business earned ($0.04) EPS.
In other Exelixis news, Director Stelios Papadopoulos sold 200,000 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $27.68, for a total transaction of $5,536,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Morrissey sold 300,000 shares of the 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 970,152 shares of company stock valued at $25,923,457. Insiders own 5.10% of the company’s stock.
Several research analysts recently issued reports on the stock. TheStreet upgraded shares of Exelixis from a “c+” rating to a “b-” rating in a research note on Wednesday, October 18th. Zacks Investment Research upgraded shares of Exelixis from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research note on Wednesday, October 18th. Needham & Company LLC increased their price target on shares of Exelixis from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, October 17th. Royal Bank Of Canada increased their price target on shares of Exelixis from $33.00 to $39.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 17th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $26.00 price target on shares of Exelixis in a research note on Tuesday, October 17th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Exelixis presently has a consensus rating of “Buy” and a consensus price target of $31.38.
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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