FY2019 EPS Estimates for Exelixis, Inc. Increased by Analyst (EXEL)

Exelixis, Inc. (NASDAQ:EXEL) – Equities researchers at SunTrust Banks raised their FY2019 EPS estimates for shares of Exelixis in a research note issued to investors on Monday. SunTrust Banks analyst P. Lawson now forecasts that the biotechnology company will earn $1.04 per share for the year, up from their previous forecast of $1.02. SunTrust Banks currently has a “Buy” rating and a $38.00 target price on the stock. SunTrust Banks also issued estimates for Exelixis’ FY2020 earnings at $1.66 EPS, FY2021 earnings at $2.26 EPS and FY2022 earnings at $2.98 EPS.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.18. Exelixis had a net margin of 36.80% and a return on equity of 105.47%. The business had revenue of $152.50 million during the quarter, compared to analysts’ expectations of $104.91 million. During the same quarter in the previous year, the company earned ($0.04) EPS. The business’s quarterly revenue was up 145.2% compared to the same quarter last year.

A number of other equities analysts have also recently commented on the stock. BidaskClub cut shares of Exelixis from a “buy” rating to a “hold” rating in a research note on Friday. Oppenheimer reissued a “hold” rating on shares of Exelixis in a research note on Wednesday, January 17th. Cann reissued a “hold” rating on shares of Exelixis in a research note on Thursday, January 4th. Zacks Investment Research raised shares of Exelixis from a “hold” rating to a “strong-buy” rating and set a $35.00 price target for the company in a research note on Tuesday, January 2nd. Finally, TheStreet raised shares of Exelixis from a “c+” rating to a “b-” rating in a research note on Wednesday, October 18th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $32.13.

Exelixis (EXEL) traded up $0.96 during mid-day trading on Tuesday, reaching $30.40. 2,630,000 shares of the company’s stock were exchanged, compared to its average volume of 2,860,000. Exelixis has a fifty-two week low of $16.72 and a fifty-two week high of $32.50. The stock has a market cap of $8,990.00, a PE ratio of 62.04, a PEG ratio of 0.84 and a beta of 1.88.

In other news, Director Alan M. Garber sold 15,000 shares of the company’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $30.30, for a total value of $454,500.00. Following the completion of the sale, the director now owns 64,829 shares of the company’s stock, valued at approximately $1,964,318.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.10% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Exelixis by 7.2% in the 2nd quarter. Vanguard Group Inc. now owns 25,441,964 shares of the biotechnology company’s stock valued at $626,635,000 after purchasing an additional 1,706,893 shares in the last quarter. Matrix Capital Management Company LP boosted its stake in shares of Exelixis by 8.8% in the 2nd quarter. Matrix Capital Management Company LP now owns 15,117,460 shares of the biotechnology company’s stock valued at $372,343,000 after purchasing an additional 1,225,000 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Exelixis by 13.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 7,059,232 shares of the biotechnology company’s stock valued at $173,869,000 after purchasing an additional 818,782 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Exelixis by 6.5% in the 3rd quarter. Jennison Associates LLC now owns 3,061,003 shares of the biotechnology company’s stock valued at $74,168,000 after purchasing an additional 187,654 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Exelixis by 36.5% in the 3rd quarter. Wells Fargo & Company MN now owns 3,042,694 shares of the biotechnology company’s stock valued at $73,723,000 after purchasing an additional 814,177 shares in the last quarter. 80.92% of the stock is owned by institutional investors.

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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.

Earnings History and Estimates for Exelixis (NASDAQ:EXEL)

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