Analysts expect Exelixis, Inc. (NASDAQ:EXEL) to post earnings per share of $0.20 for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Exelixis’ earnings, with the highest EPS estimate coming in at $0.31 and the lowest estimate coming in at $0.10. Exelixis posted earnings of $0.26 per share during the same quarter last year, which would indicate a negative year over year growth rate of 23.1%. The firm is scheduled to announce its next earnings report on Wednesday, November 7th.
According to Zacks, analysts expect that Exelixis will report full-year earnings of $1.03 per share for the current financial year, with EPS estimates ranging from $0.89 to $1.18. For the next financial year, analysts expect that the business will report earnings of $1.11 per share, with EPS estimates ranging from $0.75 to $1.90. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Exelixis.
Exelixis (NASDAQ:EXEL) last issued its earnings results on Wednesday, August 1st. The biotechnology company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.12. The business had revenue of $186.10 million during the quarter, compared to analysts’ expectations of $157.37 million. Exelixis had a net margin of 48.17% and a return on equity of 65.68%. The business’s revenue for the quarter was up 88.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 earnings per share.
Several brokerages have issued reports on EXEL. ValuEngine cut shares of Exelixis from a “sell” rating to a “strong sell” rating in a report on Friday, June 22nd. BidaskClub raised shares of Exelixis from a “strong sell” rating to a “sell” rating in a report on Friday, June 22nd. Zacks Investment Research raised shares of Exelixis from a “hold” rating to a “strong-buy” rating and set a $25.00 target price for the company in a report on Tuesday, July 31st. Stifel Nicolaus decreased their target price on shares of Exelixis from $29.00 to $25.00 and set a “hold” rating for the company in a report on Wednesday, August 1st. Finally, Morgan Stanley began coverage on shares of Exelixis in a report on Monday, September 10th. They issued an “underweight” rating and a $19.00 target price for the company. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Exelixis has a consensus rating of “Buy” and a consensus target price of $30.70.
Exelixis stock traded up $0.30 during trading hours on Friday, hitting $16.24. The stock had a trading volume of 2,508,132 shares, compared to its average volume of 3,646,448. The stock has a market capitalization of $5.28 billion, a PE ratio of 31.84 and a beta of 1.94. Exelixis has a 12-month low of $15.81 and a 12-month high of $32.50.
In other news, insider Patrick J. Haley sold 2,361 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $20.92, for a total transaction of $49,392.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gisela Schwab sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $20.56, for a total transaction of $462,600.00. The disclosure for this sale can be found here. Insiders have sold 676,129 shares of company stock valued at $13,557,153 over the last three months. 4.80% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Exelixis by 77.8% during the second quarter. BlackRock Inc. now owns 28,997,375 shares of the biotechnology company’s stock valued at $624,024,000 after purchasing an additional 12,689,909 shares during the last quarter. Renaissance Technologies LLC grew its position in Exelixis by 28.1% during the second quarter. Renaissance Technologies LLC now owns 4,037,810 shares of the biotechnology company’s stock valued at $86,894,000 after buying an additional 885,000 shares during the period. Voya Investment Management LLC grew its position in Exelixis by 37.1% during the second quarter. Voya Investment Management LLC now owns 3,741,235 shares of the biotechnology company’s stock valued at $80,512,000 after buying an additional 1,013,121 shares during the period. Macquarie Group Ltd. grew its position in Exelixis by 78.9% during the second quarter. Macquarie Group Ltd. now owns 3,553,414 shares of the biotechnology company’s stock valued at $76,469,000 after buying an additional 1,566,890 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Exelixis by 143.0% during the second quarter. Bank of New York Mellon Corp now owns 3,042,525 shares of the biotechnology company’s stock valued at $65,476,000 after buying an additional 1,790,454 shares during the period. 80.90% of the stock is owned by hedge funds and other institutional investors.
Exelixis, Inc, a biotechnology company, engages in the discovery, development, and commercialization of new medicines to enhance care and outcomes for people with cancer. 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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