Exelixis, Inc. (NASDAQ:EXEL) Forecasted to Earn FY2017 Earnings of $0.19 Per Share
Exelixis, Inc. (NASDAQ:EXEL) – Stock analysts at SunTrust Banks lifted their FY2017 earnings per share estimates for shares of Exelixis in a research report issued to clients and investors on Wednesday. SunTrust Banks analyst P. Lawson now forecasts that the biotechnology company will post earnings per share of $0.19 for the year, up from their previous estimate of $0.11. SunTrust Banks currently has a “Buy” rating and a $33.00 target price on the stock.
Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of $99.01 million during the quarter, compared to analyst estimates of $85.27 million. Exelixis had a net margin of 18.20% and a return on equity of 80.43%. Exelixis’s revenue was up 173.1% compared to the same quarter last year. During the same period last year, the business earned ($0.15) EPS. ILLEGAL ACTIVITY WARNING: “Exelixis, Inc. (NASDAQ:EXEL) Forecasted to Earn FY2017 Earnings of $0.19 Per Share” was originally published by Daily Political and is the property of of Daily Political. If you are accessing this report on another domain, it was illegally stolen and republished in violation of international copyright legislation. The correct version of this report can be read at https://www.dailypolitical.com/2017/08/08/exelixis-inc-nasdaqexel-forecasted-to-earn-fy2017-earnings-of-0-19-per-share.html.
A number of other research firms have also weighed in on EXEL. William Blair reaffirmed an “outperform” rating on shares of Exelixis in a research note on Friday, June 16th. Oppenheimer Holdings, Inc. assumed coverage on shares of Exelixis in a report on Monday, June 12th. They issued a “hold” rating for the company. Zacks Investment Research upgraded shares of Exelixis from a “hold” rating to a “strong-buy” rating and set a $28.00 target price for the company in a report on Tuesday, July 4th. Cann reiterated a “hold” rating on shares of Exelixis in a report on Thursday, July 20th. Finally, BidaskClub upgraded shares of Exelixis from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $25.57.
Shares of Exelixis (NASDAQ EXEL) opened at 26.69 on Monday. Exelixis has a 1-year low of $9.00 and a 1-year high of $28.45. The firm’s 50-day moving average is $24.89 and its 200-day moving average is $21.88. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of 139.01 and a beta of 1.89.
In other news, insider Michael Morrissey sold 211,300 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $21.87, for a total transaction of $4,621,131.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Carl B. Feldbaum sold 32,988 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $21.58, for a total transaction of $711,881.04. Following the transaction, the director now owns 52,721 shares in the company, valued at approximately $1,137,719.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 249,288 shares of company stock worth $5,425,312. Corporate insiders own 5.10% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Fortaleza Asset Management Inc. bought a new position in Exelixis during the first quarter valued at about $106,000. First Quadrant L P CA bought a new position in Exelixis during the second quarter valued at about $144,000. Meeder Asset Management Inc. bought a new position in Exelixis during the first quarter valued at about $170,000. Atlantic Trust Group LLC bought a new position in Exelixis during the first quarter valued at about $216,000. Finally, Klingenstein Fields & Co. LLC bought a new position in Exelixis during the first quarter valued at about $217,000. Hedge funds and other institutional investors own 80.19% 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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