Exelixis, Inc. Expected to Post FY2019 Earnings of $1.54 Per Share (EXEL)

Exelixis, Inc. (NASDAQ:EXEL) – Equities researchers at Leerink Swann boosted their FY2019 EPS estimates for shares of Exelixis in a note issued to investors on Thursday. Leerink Swann analyst M. Schmidt now expects that the biotechnology company will post earnings of $1.54 per share for the year, up from their previous forecast of $1.28. Leerink Swann also issued estimates for Exelixis’ FY2020 earnings at $2.15 EPS.

EXEL has been the subject of several other reports. BidaskClub raised shares of Exelixis from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. TheStreet raised shares of Exelixis from a “d” rating to a “c+” rating in a research report on Tuesday, May 2nd. Zacks Investment Research raised shares of Exelixis from a “hold” rating to a “strong-buy” rating and set a $28.00 target price for the company in a research report on Tuesday, July 4th. SunTrust Banks, Inc. initiated coverage on shares of Exelixis in a research report on Thursday, July 13th. They issued a “buy” rating and a $33.00 target price for the company. Finally, Cann reissued a “hold” rating on shares of Exelixis in a research report on Wednesday, April 19th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $20.95.

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Shares of Exelixis (EXEL) traded down 1.89% during trading on Monday, hitting $27.58. 2,938,721 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $23.54 and its 200 day moving average is $21.46. Exelixis has a 1-year low of $8.58 and a 1-year high of $28.45. The firm has a market capitalization of $8.07 billion, a PE ratio of 1313.33 and a beta of 1.87.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Monday, May 1st. The biotechnology company reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.06. The company had revenue of $80.90 million for the quarter, compared to analyst estimates of $65.23 million. Exelixis had a net margin of 1.37% and a return on equity of 126.82%. Exelixis’s revenue for the quarter was up 425.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.27) EPS.

Several hedge funds have recently bought and sold shares of EXEL. Legal & General Group Plc increased its stake 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 in the last quarter. Aperio Group LLC boosted 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 last quarter. Meeder Asset Management Inc. boosted 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 last quarter. Finally, Teacher Retirement System of Texas boosted 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 last quarter. 80.85% of the stock is owned by institutional investors and hedge funds.

In related news, Director Carl B. Feldbaum sold 32,988 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $21.58, for a total transaction of $711,881.04. Following the completion of the sale, the director now directly owns 52,721 shares of the company’s stock, valued at approximately $1,137,719.18. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael Morrissey sold 259,149 shares of the company’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $22.24, for a total transaction of $5,763,473.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 709,647 shares of company stock valued at $15,673,068. 5.10% of the stock is owned by insiders.

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.

Earnings History and Estimates for Exelixis (NASDAQ:EXEL)

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