Wall Street brokerages forecast that Exelixis, Inc. (NASDAQ:EXEL) will report sales of $117.71 million for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Exelixis’ earnings. The lowest sales estimate is $108.10 million and the highest is $133.73 million. Exelixis reported sales of $77.58 million during the same quarter last year, which indicates a positive year over year growth rate of 51.7%. The business is scheduled to report its next earnings report on Monday, February 26th.
On average, analysts expect that Exelixis will report full year sales of $117.71 million for the current year, with estimates ranging from $386.60 million to $466.03 million. For the next year, analysts forecast that the company will report sales of $613.74 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 firms that follow Exelixis.
Exelixis (NASDAQ:EXEL) last issued its earnings results on Wednesday, November 1st. The biotechnology company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.18. Exelixis had a net margin of 36.80% and a return on equity of 105.47%. The company had revenue of $152.50 million for the quarter, compared to the consensus estimate of $104.91 million. During the same period in the previous year, the firm earned ($0.04) earnings per share. Exelixis’s quarterly revenue was up 145.2% compared to the same quarter last year.
A number of equities analysts have commented on EXEL shares. Zacks Investment Research raised shares of Exelixis from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research note on Tuesday, October 10th. SunTrust Banks, Inc. lifted their target price on shares of Exelixis from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, October 16th. Needham & Company LLC lifted their target price on shares of Exelixis from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, October 17th. William Blair reaffirmed an “outperform” rating on shares of Exelixis in a research note on Thursday, July 27th. Finally, Cann reaffirmed a “hold” rating on shares of Exelixis in a research note on Thursday, July 20th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $31.38.
In other Exelixis news, CFO Christopher J. Senner sold 100,000 shares of Exelixis stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $26.79, for a total transaction of $2,679,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Morrissey sold 300,000 shares of Exelixis stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $26.90, for a total transaction of $8,070,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 970,152 shares of company stock valued at $25,923,457. Company insiders own 5.10% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc grew its holdings in shares of 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 purchasing an additional 1,078 shares in the last quarter. Aperio Group LLC grew its holdings in shares of 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 purchasing an additional 1,514 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Exelixis by 7.0% in the second quarter. Teacher Retirement System of Texas now owns 23,251 shares of the biotechnology company’s stock valued at $573,000 after purchasing an additional 1,517 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in shares of 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 purchasing an additional 2,091 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in shares of Exelixis by 17.7% in the second quarter. Oppenheimer & Co. Inc. now owns 14,128 shares of the biotechnology company’s stock valued at $348,000 after purchasing an additional 2,129 shares in the last quarter. Hedge funds and other institutional investors own 79.03% of the company’s stock.
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Shares of Exelixis (NASDAQ:EXEL) traded down $0.79 during mid-day trading on Thursday, reaching $26.59. 2,970,302 shares of the company’s stock were exchanged, compared to its average volume of 4,280,000. Exelixis has a one year low of $12.04 and a one year high of $32.50. The stock has a market capitalization of $7,880.00, a P/E ratio of 51.47, a PEG ratio of 1.33 and a beta of 1.89.
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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