Brokerages Expect Exelixis, Inc. (EXEL) Will Post Quarterly Sales of $104.41 Million
Analysts expect Exelixis, Inc. (NASDAQ:EXEL) to post sales of $104.41 million for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Exelixis’ earnings. The lowest sales estimate is $98.00 million and the highest is $110.69 million. Exelixis reported sales of $62.19 million during the same quarter last year, which would suggest a positive year over year growth rate of 67.9%. The business is scheduled to issue its next earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that Exelixis will report full year sales of $104.41 million for the current year, with estimates ranging from $383.40 million to $416.83 million. For the next year, analysts anticipate that the business will report sales of $604.14 million per share, with estimates ranging from $514.30 million to $724.98 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Exelixis.
Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, November 1st. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.21. Exelixis had a return on equity of 80.43% and a net margin of 18.20%. The business had revenue of $152.50 million for the quarter, compared to analyst estimates of $104.91 million. During the same period in the previous year, the company earned ($0.04) earnings per share. The company’s revenue for the quarter was up 145.2% compared to the same quarter last year.
A number of equities research analysts have issued reports on the stock. TheStreet upgraded shares of Exelixis from a “c+” rating to a “b-” rating in a report 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 report on Wednesday, October 18th. Needham & Company LLC upped their price target on shares of Exelixis from $30.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, October 17th. Royal Bank Of Canada upped their price target on shares of Exelixis from $33.00 to $39.00 and gave the company an “outperform” rating in a report on Tuesday, October 17th. Finally, Stifel Nicolaus restated a “hold” rating and set a $26.00 price target on shares of Exelixis in a report on Tuesday, October 17th. Six 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. The company currently has an average rating of “Buy” and an average price target of $31.38.
In related news, Director Stelios Papadopoulos sold 10,000 shares of the stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $25.40, for a total value of $254,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey Hessekiel sold 27,302 shares of the stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $24.28, for a total transaction of $662,892.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 970,152 shares of company stock valued at $25,923,457. 5.10% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of EXEL. First Quadrant L P CA acquired a new position in Exelixis in the second quarter worth about $144,000. Fisher Asset Management LLC acquired a new position in Exelixis in the third quarter worth about $213,000. Wetherby Asset Management Inc. acquired a new position in Exelixis in the second quarter worth about $218,000. Caxton Associates LP acquired a new position in Exelixis in the second quarter worth about $227,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in Exelixis in the third quarter worth about $236,000. 78.71% of the stock is owned by hedge funds and other institutional investors.
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.
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