Exelixis, Inc. (NASDAQ:EXEL) – Equities researchers at Leerink Swann increased their FY2017 earnings estimates for Exelixis in a note issued to investors on Wednesday, according to Zacks Investment Research. Leerink Swann analyst M. Schmidt now anticipates that the biotechnology company will post earnings per share of $0.44 for the year, up from their prior estimate of $0.26. Leerink Swann has a “Market Perform” rating and a $28.00 price objective on the stock. Leerink Swann also issued estimates for Exelixis’ FY2018 earnings at $0.63 EPS, FY2019 earnings at $1.29 EPS and FY2020 earnings at $1.92 EPS.
Other equities analysts have also issued research reports about the company. TheStreet upgraded Exelixis from a “c” rating to a “b-” rating in a research note on Monday, August 7th. Piper Jaffray Companies reiterated a “buy” rating and set a $29.00 target price on shares of Exelixis in a research note on Thursday, August 3rd. BidaskClub downgraded Exelixis from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 14th. Needham & Company LLC reissued a “buy” rating and set a $30.00 price target (up previously from $28.00) on shares of Exelixis in a research report on Tuesday, September 12th. Finally, Zacks Investment Research raised Exelixis from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Tuesday, October 10th. Six investment 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 company currently has an average rating of “Buy” and an average target price of $31.38.
Exelixis (NASDAQ:EXEL) opened at $25.11 on Monday. The firm has a market capitalization of $7,706.98, a P/E ratio of 51.08, a PEG ratio of 1.25 and a beta of 1.89. Exelixis has a 52 week low of $14.22 and a 52 week high of $32.50.
Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, November 1st. The biotechnology company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.18. The company had revenue of $152.50 million for the quarter, compared to analyst estimates of $104.91 million. Exelixis had a return on equity of 105.47% and a net margin of 36.80%. The firm’s quarterly revenue was up 145.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.04) earnings per share.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Exelixis during the 3rd quarter valued at $120,000. First Quadrant L P CA bought a new position in Exelixis during the 2nd quarter worth $144,000. Fisher Asset Management LLC bought a new position in Exelixis during the 3rd quarter worth $213,000. Wetherby Asset Management Inc. bought a new position in Exelixis during the 2nd quarter worth $218,000. Finally, Caxton Associates LP bought a new position in Exelixis during the 2nd quarter worth $227,000. 78.06% of the stock is currently owned by institutional investors.
In other Exelixis news, insider Michael Morrissey sold 300,000 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $26.90, for a total value of $8,070,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Stelios Papadopoulos sold 200,000 shares of the firm’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $27.68, for a total value of $5,536,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 970,152 shares of company stock worth $25,923,457. Company insiders own 5.10% of the company’s stock.
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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