Exelixis (EXEL) Releases Earnings Results, Meets Expectations

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Exelixis (NASDAQ:EXEL) released its earnings results on Wednesday. The biotechnology company reported $0.24 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.24, Morningstar.com reports. The firm had revenue of $215.49 million during the quarter, compared to analyst estimates of $206.06 million. Exelixis had a return on equity of 48.90% and a net margin of 80.95%. Exelixis’s revenue was up .8% compared to the same quarter last year. During the same period last year, the business posted $0.40 earnings per share.

NASDAQ EXEL traded up $0.59 during trading on Friday, reaching $20.78. 4,054,600 shares of the company’s stock were exchanged, compared to its average volume of 3,771,158. The company has a market capitalization of $5.92 billion, a price-to-earnings ratio of 14.55, a price-to-earnings-growth ratio of 0.39 and a beta of 2.07. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.50 and a quick ratio of 8.41. Exelixis has a 1 year low of $13.42 and a 1 year high of $25.31.

A number of research firms recently issued reports on EXEL. Morgan Stanley set a $27.00 target price on Exelixis and gave the company a “hold” rating in a report on Thursday. BidaskClub lowered Exelixis from a “sell” rating to a “strong sell” rating in a report on Wednesday. ValuEngine lowered Exelixis from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. Cowen reiterated a “buy” rating and issued a $29.00 target price on shares of Exelixis in a report on Tuesday, April 23rd. Finally, Zacks Investment Research upgraded Exelixis from a “hold” rating to a “strong-buy” rating and set a $26.00 target price for the company in a report on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, six 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 “Hold” and an average price target of $30.10.

In related news, Director Alan M. Garber sold 30,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $23.99, for a total value of $719,700.00. Following the transaction, the director now owns 76,329 shares in the company, valued at approximately $1,831,132.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Christopher J. Senner sold 36,261 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $20.70, for a total value of $750,602.70. The disclosure for this sale can be found here. Insiders have sold a total of 1,040,362 shares of company stock valued at $23,454,827 over the last ninety days. 4.80% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its position in Exelixis by 8.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,931,216 shares of the biotechnology company’s stock worth $105,101,000 after purchasing an additional 480,986 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Exelixis by 1.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,100,134 shares of the biotechnology company’s stock worth $54,936,000 after acquiring an additional 57,609 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Exelixis by 12.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 493,816 shares of the biotechnology company’s stock valued at $8,751,000 after buying an additional 55,643 shares in the last quarter. Man Group plc lifted its stake in Exelixis by 121.8% in the 3rd quarter. Man Group plc now owns 62,734 shares of the biotechnology company’s stock valued at $1,112,000 after buying an additional 34,451 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in Exelixis by 45.3% in the 3rd quarter. Mackenzie Financial Corp now owns 41,274 shares of the biotechnology company’s stock valued at $731,000 after buying an additional 12,876 shares in the last quarter. Hedge funds and other institutional investors own 75.56% of the company’s stock.

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About Exelixis

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 for Exelixis (NASDAQ:EXEL)

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