Exelixis, Inc. to Post FY2017 Earnings of $0.44 Per Share, Leerink Swann Forecasts (EXEL)
Exelixis, Inc. (NASDAQ:EXEL) – Leerink Swann boosted their FY2017 earnings per share (EPS) estimates for Exelixis in a report issued on Wednesday. Leerink Swann analyst M. Schmidt now expects that the biotechnology company will post earnings per share of $0.44 for the year, up from their prior estimate of $0.26. Leerink Swann has a “Market Perform” rating and a $28.00 price target on the stock. Leerink Swann also issued estimates for Exelixis’ FY2018 earnings at $0.63 EPS, FY2019 earnings at $1.29 EPS and FY2020 earnings at $1.92 EPS.
Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Wednesday, November 1st. The biotechnology company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.08 by $0.18. Exelixis had a return on equity of 105.47% and a net margin of 36.80%. The company had revenue of $152.50 million for the quarter, compared to analyst estimates of $104.91 million. During the same period last year, the company earned ($0.04) earnings per share. Exelixis’s quarterly revenue was up 145.2% compared to the same quarter last year.
Other analysts have also issued reports about the company. TheStreet raised Exelixis from a “c” rating to a “b-” rating in a report on Monday, August 7th. SunTrust Banks, Inc. initiated coverage on Exelixis in a report on Thursday, July 13th. They issued a “buy” rating and a $33.00 price objective on the stock. BidaskClub lowered Exelixis from a “strong-buy” rating to a “buy” rating in a report on Monday, August 14th. Piper Jaffray Companies reissued a “buy” rating and issued a $29.00 price objective on shares of Exelixis in a report on Thursday, August 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $30.00 price objective (up from $28.00) on shares of Exelixis in a report on Tuesday, September 12th. Six research 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 stock. The stock presently has a consensus rating of “Buy” and an average price target of $31.38.
Shares of Exelixis (EXEL) opened at $26.25 on Monday. The firm has a market cap of $7,766.15, a P/E ratio of 51.47, a P/E/G ratio of 1.33 and a beta of 1.89.
In other news, EVP Jeffrey Hessekiel sold 27,302 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $24.28, for a total value of $662,892.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Stelios Papadopoulos sold 72,210 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $27.76, for a total value of $2,004,549.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 970,152 shares of company stock worth $25,923,457. Company insiders own 5.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. First Quadrant L P CA lifted its position in Exelixis by 6,771.4% during the third quarter. First Quadrant L P CA now owns 402,528 shares of the biotechnology company’s stock worth $9,753,000 after buying an additional 396,670 shares in the last quarter. Prudential Financial Inc. lifted its position in Exelixis by 262.0% during the second quarter. Prudential Financial Inc. now owns 627,530 shares of the biotechnology company’s stock worth $15,456,000 after buying an additional 454,197 shares in the last quarter. GAM Holding AG purchased a new position in Exelixis during the second quarter worth approximately $1,256,000. Macquarie Group Ltd. purchased a new position in Exelixis during the second quarter worth approximately $3,449,000. Finally, Meeder Asset Management Inc. lifted its position in Exelixis by 26.6% during the second 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 in the last quarter. Hedge funds and other institutional investors own 79.03% of the company’s stock.
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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