Wall Street brokerages expect Exelixis, Inc. (NASDAQ:EXEL) to announce $240.67 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Exelixis’ earnings, with the lowest sales estimate coming in at $237.44 million and the highest estimate coming in at $245.00 million. Exelixis posted sales of $228.60 million during the same quarter last year, which suggests a positive year over year growth rate of 5.3%. The firm is scheduled to announce its next earnings results after the market closes on Tuesday, February 25th.
On average, analysts expect that Exelixis will report full year sales of $967.77 million for the current financial year, with estimates ranging from $962.37 million to $972.47 million. For the next year, analysts expect that the firm will report sales of $881.19 million, with estimates ranging from $853.60 million to $908.34 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Exelixis.
EXEL has been the subject of a number of research analyst reports. Bank of America restated a “buy” rating and issued a $21.00 price target (down previously from $22.00) on shares of Exelixis in a research report on Monday, January 13th. Piper Jaffray Companies dropped their price target on Exelixis from $45.00 to $35.00 in a research report on Thursday, October 31st. TheStreet cut Exelixis from a “b-” rating to a “c” rating in a research report on Friday, November 22nd. Needham & Company LLC restated a “buy” rating and issued a $28.00 price target on shares of Exelixis in a research report on Monday, January 27th. Finally, BidaskClub upgraded Exelixis from a “sell” rating to a “hold” rating in a research report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $26.09.
In related news, CEO Michael Morrissey sold 25,000 shares of Exelixis stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $20.33, for a total transaction of $508,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alan M. Garber sold 86,956 shares of Exelixis stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $18.01, for a total value of $1,566,077.56. Following the sale, the director now owns 91,329 shares of the company’s stock, valued at approximately $1,644,835.29. The disclosure for this sale can be found here. In the last quarter, insiders have sold 427,639 shares of company stock valued at $7,914,164. 4.50% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of EXEL. Farallon Capital Management LLC boosted its stake in Exelixis by 328.6% in the 4th quarter. Farallon Capital Management LLC now owns 7,500,000 shares of the biotechnology company’s stock worth $132,150,000 after buying an additional 5,750,000 shares during the last quarter. AJO LP boosted its stake in Exelixis by 86.5% in the 4th quarter. AJO LP now owns 7,636,882 shares of the biotechnology company’s stock worth $134,561,000 after buying an additional 3,541,719 shares during the last quarter. Bank of Montreal Can boosted its stake in Exelixis by 660.1% in the 4th quarter. Bank of Montreal Can now owns 3,909,944 shares of the biotechnology company’s stock worth $68,894,000 after buying an additional 3,395,579 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Exelixis by 20.9% in the 4th quarter. Renaissance Technologies LLC now owns 17,953,926 shares of the biotechnology company’s stock worth $316,348,000 after buying an additional 3,104,330 shares during the last quarter. Finally, State Street Corp boosted its stake in Exelixis by 5.8% in the 4th quarter. State Street Corp now owns 11,061,947 shares of the biotechnology company’s stock worth $194,912,000 after buying an additional 611,170 shares during the last quarter. 77.01% of the stock is currently owned by hedge funds and other institutional investors.
Shares of EXEL stock traded up $0.52 during mid-day trading on Friday, reaching $20.77. The stock had a trading volume of 3,990,132 shares, compared to its average volume of 3,595,282. Exelixis has a 12-month low of $15.02 and a 12-month high of $25.31. The company has a market cap of $6.15 billion, a P/E ratio of 10.65, a price-to-earnings-growth ratio of 3.43 and a beta of 1.93. The business has a 50-day simple moving average of $18.54 and a 200 day simple moving average of $18.28. The company has a current ratio of 6.89, a quick ratio of 6.80 and a debt-to-equity ratio of 0.01.
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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