Zacks: Analysts Anticipate Exelixis, Inc. (EXEL) Will Announce Quarterly Sales of $118.16 Million

Analysts expect Exelixis, Inc. (NASDAQ:EXEL) to post $118.16 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Exelixis’ earnings, with the lowest sales estimate coming in at $108.10 million and the highest estimate coming in at $133.73 million. Exelixis posted sales of $77.58 million during the same quarter last year, which suggests a positive year-over-year growth rate of 52.3%. The company is expected to announce its next quarterly earnings results on Monday, February 26th.

On average, analysts expect that Exelixis will report full year sales of $118.16 million for the current financial year, with estimates ranging from $440.40 million to $466.03 million. For the next year, analysts anticipate that the firm will post sales of $627.56 million per share, with estimates ranging from $515.80 million to $762.02 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Exelixis.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data 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 return on equity of 105.47% and a net margin of 36.80%. The company had revenue of $152.50 million during the quarter, compared to the consensus estimate of $104.91 million. During the same quarter last year, the company earned ($0.04) EPS. The company’s quarterly revenue was up 145.2% on a year-over-year basis.

Several equities analysts recently commented on the company. TheStreet upgraded Exelixis from a “c+” rating to a “b-” rating in a research report on Wednesday, October 18th. Zacks Investment Research upgraded Exelixis from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Wednesday, October 18th. Needham & Company LLC raised their target price on Exelixis from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, October 17th. SunTrust Banks raised their target price on Exelixis from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, October 16th. Finally, BidaskClub upgraded Exelixis from a “hold” rating to a “buy” rating in a research report on Friday, January 5th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $32.13.

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

A number of hedge funds have recently added to or reduced their stakes in EXEL. New York State Common Retirement Fund increased its holdings in Exelixis by 160.3% during the 2nd quarter. New York State Common Retirement Fund now owns 676,397 shares of the biotechnology company’s stock valued at $16,660,000 after purchasing an additional 416,579 shares in the last quarter. California Public Employees Retirement System increased its holdings in Exelixis by 185.9% during the 2nd quarter. California Public Employees Retirement System now owns 640,400 shares of the biotechnology company’s stock valued at $15,773,000 after purchasing an additional 416,400 shares in the last quarter. Nordea Investment Management AB acquired a new stake in Exelixis during the 2nd quarter valued at $2,014,000. Advisor Group Inc. increased its holdings in Exelixis by 25.9% during the 2nd quarter. Advisor Group Inc. now owns 17,056 shares of the biotechnology company’s stock valued at $419,000 after purchasing an additional 3,506 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Exelixis by 4.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 620,096 shares of the biotechnology company’s stock valued at $15,273,000 after purchasing an additional 28,195 shares in the last quarter. 80.60% of the stock is owned by hedge funds and other institutional investors.

Shares of Exelixis (EXEL) opened at $30.50 on Wednesday. Exelixis has a 52-week low of $16.72 and a 52-week high of $32.50. The company has a market capitalization of $9,277.96, a P/E ratio of 62.24, a price-to-earnings-growth ratio of 0.88 and a beta of 1.88.

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About Exelixis

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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Earnings History and Estimates for Exelixis (NASDAQ:EXEL)

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