Research Analysts Offer Predictions for Exelixis, Inc.’s FY2022 Earnings (EXEL)

Exelixis, Inc. (NASDAQ:EXEL) – Research analysts at SunTrust Banks issued their FY2022 earnings per share (EPS) estimates for Exelixis in a report issued on Thursday. SunTrust Banks analyst P. Lawson anticipates that the biotechnology company will post earnings per share of $2.83 for the year. SunTrust Banks has a “Buy” rating and a $38.00 price objective on the stock.

A number of other research analysts have also weighed in on EXEL. Cann reissued a “hold” rating on shares of Exelixis in a report on Monday, October 16th. Leerink Swann lowered Exelixis from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $34.00 to $28.00 in a report on Friday, September 22nd. Oppenheimer restated a “hold” rating on shares of Exelixis in a research report on Monday, October 16th. Stifel Nicolaus restated a “hold” rating and issued a $26.00 target price on shares of Exelixis in a research report on Tuesday, October 17th. Finally, Zacks Investment Research upgraded Exelixis from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Wednesday, October 18th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $32.13.

Shares of Exelixis (EXEL) traded up $0.30 during trading hours on Monday, reaching $30.38. The company had a trading volume of 2,027,070 shares, compared to its average volume of 2,634,978. Exelixis has a 12 month low of $16.72 and a 12 month high of $32.50. The firm has a market cap of $8,990.00, a price-to-earnings ratio of 62.00, a P/E/G ratio of 0.91 and a beta of 1.88.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, November 1st. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.18. Exelixis had a return on equity of 105.47% and a net margin of 36.80%. The company had revenue of $152.50 million for the quarter, compared to analyst estimates of $104.91 million. During the same period in the prior year, the company posted ($0.04) EPS. The firm’s quarterly revenue was up 145.2% compared to the same quarter last year.

A number of hedge funds have recently bought and sold shares of EXEL. First Quadrant L P CA increased its holdings in Exelixis by 6,771.4% in the 3rd quarter. First Quadrant L P CA now owns 402,528 shares of the biotechnology company’s stock valued at $9,753,000 after purchasing an additional 396,670 shares in the last quarter. Macquarie Group Ltd. acquired a new stake in shares of Exelixis during the 2nd quarter valued at $3,449,000. Stevens Capital Management LP boosted its stake in shares of Exelixis by 55.5% during the 3rd quarter. Stevens Capital Management LP now owns 127,049 shares of the biotechnology company’s stock valued at $3,078,000 after buying an additional 45,336 shares during the period. Vident Investment Advisory LLC acquired a new stake in shares of Exelixis during the 3rd quarter valued at $783,000. Finally, Schroder Investment Management Group acquired a new stake in shares of Exelixis in the 3rd quarter valued at $334,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

In other Exelixis news, Director Alan M. Garber sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $30.30, for a total transaction of $454,500.00. Following the transaction, the director now owns 64,829 shares in the company, valued at approximately $1,964,318.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.10% of the company’s stock.

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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.

Earnings History and Estimates for Exelixis (NASDAQ:EXEL)

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