Exelixis, Inc. (NASDAQ:EXEL) - Equities research analysts at Leerink Swann boosted their FY2018 earnings estimates for Exelixis in a research note issued to investors on Thursday. Leerink Swann analyst M. Schmidt now expects that the biotechnology company will post earnings of $0.66 per share for the year, up from their prior forecast of $0.62.
Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Monday, May 1st. The biotechnology company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The firm had revenue of $80.90 million during the quarter, compared to analyst estimates of $65.23 million. Exelixis had a return on equity of 126.82% and a net margin of 1.37%. Exelixis’s quarterly revenue was up 425.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.27) earnings per share.
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Several other analysts also recently weighed in on EXEL. Cann reiterated a “hold” rating on shares of Exelixis in a report on Thursday. SunTrust Banks, Inc. assumed coverage on shares of Exelixis in a report on Thursday, July 13th. They issued a “buy” rating and a $33.00 target price for the company. Oppenheimer Holdings, Inc. assumed coverage on shares of Exelixis in a report on Monday, June 12th. They issued a “hold” rating for the company. TheStreet upgraded shares of Exelixis from a “d” rating to a “c+” rating in a report on Tuesday, May 2nd. Finally, BidaskClub upgraded shares of Exelixis from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $20.95.
Shares of Exelixis (EXEL) opened at 27.23 on Friday. The stock has a market cap of $7.97 billion, a price-to-earnings ratio of 1296.67 and a beta of 1.88. The company has a 50 day moving average price of $23.04 and a 200-day moving average price of $21.23. Exelixis has a one year low of $8.58 and a one year high of $27.63.
Several institutional investors have recently bought and sold shares of the company. Legal & General Group Plc increased its position in Exelixis by 1.3% in the first quarter. Legal & General Group Plc now owns 84,763 shares of the biotechnology company’s stock valued at $1,834,000 after buying an additional 1,078 shares during the period. Aperio Group LLC increased its position in Exelixis by 2.7% in the second quarter. Aperio Group LLC now owns 58,345 shares of the biotechnology company’s stock valued at $1,437,000 after buying an additional 1,514 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Exelixis by 14.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,751 shares of the biotechnology company’s stock valued at $320,000 after buying an additional 1,838 shares during the period. Meeder Asset Management Inc. increased its position in Exelixis by 26.6% in the second quarter. Meeder Asset Management Inc. now owns 9,957 shares of the biotechnology company’s stock valued at $245,000 after buying an additional 2,091 shares during the period. Finally, Teacher Retirement System of Texas increased its position in Exelixis by 17.8% in the first quarter. Teacher Retirement System of Texas now owns 21,734 shares of the biotechnology company’s stock valued at $471,000 after buying an additional 3,287 shares during the period. Institutional investors and hedge funds own 80.82% of the company’s stock.
In other Exelixis news, CMO Gisela Schwab sold 89,910 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $23.01, for a total value of $2,068,829.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick J. Haley sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $18.46, for a total transaction of $92,300.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 709,647 shares of company stock valued at $15,673,068. Insiders own 5.10% 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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