Exelixis, Inc. (NASDAQ:EXEL) Forecasted to Earn Q3 2017 Earnings of $0.07 Per Share
Exelixis, Inc. (NASDAQ:EXEL) – Research analysts at Oppenheimer Holdings issued their Q3 2017 EPS estimates for shares of Exelixis in a report released on Thursday. Oppenheimer Holdings analyst L. Cann forecasts that the biotechnology company will post earnings per share of $0.07 for the quarter. Oppenheimer Holdings currently has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Exelixis’ Q4 2017 earnings at $0.05 EPS and FY2017 earnings at $0.23 EPS.
Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.02. Exelixis had a net margin of 18.20% and a return on equity of 80.43%. The business had revenue of $99.01 million during the quarter, compared to analysts’ expectations of $85.27 million. During the same quarter in the prior year, the business posted ($0.15) earnings per share. Exelixis’s revenue was up 173.1% compared to the same quarter last year.
A number of other research analysts have also weighed in on EXEL. Cann reaffirmed a “hold” rating on shares of Exelixis in a report on Wednesday, April 19th. Zacks Investment Research lowered Exelixis from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 3rd. TheStreet raised Exelixis from a “d” rating to a “c+” rating in a report on Tuesday, May 2nd. William Blair reaffirmed an “outperform” rating on shares of Exelixis in a report on Friday, June 16th. Finally, BidaskClub raised Exelixis from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $25.57.
Shares of Exelixis (NASDAQ EXEL) opened at 27.20 on Monday. Exelixis has a 52-week low of $10.04 and a 52-week high of $28.45. The company’s 50-day moving average is $25.47 and its 200 day moving average is $21.97. The company has a market cap of $7.99 billion, a PE ratio of 141.67 and a beta of 1.89.
In other news, insider Patrick J. Haley sold 5,000 shares of Exelixis stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $18.46, for a total transaction of $92,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carl B. Feldbaum sold 32,988 shares of Exelixis stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $21.58, for a total value of $711,881.04. Following the sale, the director now owns 52,721 shares of the company’s stock, valued at approximately $1,137,719.18. The disclosure for this sale can be found here. Company insiders own 5.10% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Fortaleza Asset Management Inc. acquired a new stake in shares of Exelixis during the first quarter worth about $106,000. First Quadrant L P CA acquired a new stake in shares of Exelixis during the second quarter worth about $144,000. Meeder Asset Management Inc. acquired a new stake in shares of Exelixis during the first quarter worth about $170,000. Wetherby Asset Management Inc. acquired a new stake in shares of Exelixis during the second quarter worth about $218,000. Finally, Capstone Asset Management Co. acquired a new stake in shares of Exelixis during the second quarter worth about $242,000. 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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