Exelixis, Inc. (NASDAQ:EXEL) Expected to Announce Quarterly Sales of $226.04 Million

Equities analysts forecast that Exelixis, Inc. (NASDAQ:EXEL) will post sales of $226.04 million for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Exelixis’ earnings. The highest sales estimate is $236.29 million and the lowest is $212.70 million. Exelixis reported sales of $225.40 million during the same quarter last year, which indicates a positive year over year growth rate of 0.3%. The firm is expected to issue its next earnings report on Thursday, November 7th.

On average, analysts expect that Exelixis will report full year sales of $930.54 million for the current year, with estimates ranging from $895.80 million to $969.69 million. For the next financial year, analysts expect that the firm will report sales of $1.08 billion, with estimates ranging from $986.50 million to $1.18 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Exelixis.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Wednesday, July 31st. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02. Exelixis had a net margin of 70.52% and a return on equity of 31.31%. The company had revenue of $240.28 million for the quarter, compared to the consensus estimate of $226.97 million. During the same period last year, the firm posted $0.31 EPS. Exelixis’s revenue for the quarter was up 29.1% on a year-over-year basis.

Several analysts have recently weighed in on EXEL shares. Zacks Investment Research raised shares of Exelixis from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Tuesday, August 6th. Cowen set a $25.00 target price on shares of Exelixis and gave the company a “buy” rating in a report on Wednesday, July 31st. Morgan Stanley set a $27.00 target price on shares of Exelixis and gave the company a “hold” rating in a report on Thursday, May 2nd. BidaskClub raised shares of Exelixis from a “sell” rating to a “hold” rating in a report on Friday, July 19th. Finally, ValuEngine downgraded shares of Exelixis from a “hold” rating to a “sell” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $27.75.

Shares of NASDAQ:EXEL traded up $1.78 during midday trading on Friday, hitting $21.72. The stock had a trading volume of 7,363,477 shares, compared to its average volume of 3,235,259. The company has a market capitalization of $6.04 billion, a PE ratio of 15.19 and a beta of 1.98. The stock has a 50 day moving average price of $20.89 and a two-hundred day moving average price of $21.52. The company has a current ratio of 8.64, a quick ratio of 8.53 and a debt-to-equity ratio of 0.02. Exelixis has a 1 year low of $13.42 and a 1 year high of $25.31.

In related news, Director George A. Scangos sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $19.76, for a total value of $790,400.00. Following the completion of the sale, the director now owns 1,223,031 shares in the company, valued at $24,167,092.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George Poste sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $20.60, for a total transaction of $412,000.00. The disclosure for this sale can be found here. Insiders sold 552,522 shares of company stock valued at $11,366,761 in the last quarter. Company insiders own 4.50% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in EXEL. Financial Gravity Wealth Inc. lifted its stake in shares of Exelixis by 120,100.0% in the second quarter. Financial Gravity Wealth Inc. now owns 1,202 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 1,201 shares during the period. Icon Wealth Partners LLC acquired a new position in Exelixis during the first quarter worth about $27,000. Bessemer Group Inc. acquired a new position in Exelixis during the second quarter worth about $28,000. Ibex Wealth Advisors acquired a new position in Exelixis during the second quarter worth about $43,000. Finally, Signaturefd LLC raised its position in Exelixis by 999.5% during the second quarter. Signaturefd LLC now owns 2,287 shares of the biotechnology company’s stock worth $49,000 after acquiring an additional 2,079 shares during the last quarter. Hedge funds and other institutional investors own 77.17% of the company’s stock.

Exelixis Company Profile

Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. The company's products include CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of patients with progressive and metastatic medullary thyroid cancer.

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Earnings History and Estimates for Exelixis (NASDAQ:EXEL)

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