Exelixis, Inc. (NASDAQ:EXEL) Expected to Post Quarterly Sales of $353.15 Million

Equities research analysts expect that Exelixis, Inc. (NASDAQ:EXEL) will post $353.15 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Exelixis’ earnings. The lowest sales estimate is $319.57 million and the highest is $394.10 million. Exelixis reported sales of $270.05 million in the same quarter last year, which indicates a positive year over year growth rate of 30.8%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, February 9th.

According to Zacks, analysts expect that Exelixis will report full year sales of $1.33 billion for the current financial year, with estimates ranging from $1.30 billion to $1.37 billion. For the next fiscal year, analysts expect that the business will report sales of $1.66 billion, with estimates ranging from $1.44 billion to $2.01 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Exelixis.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, November 2nd. The biotechnology company reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.07). Exelixis had a net margin of 13.10% and a return on equity of 8.27%. During the same quarter last year, the business posted ($0.10) EPS.

EXEL has been the topic of several recent research reports. Royal Bank of Canada decreased their price target on shares of Exelixis from $32.00 to $31.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 3rd. Piper Sandler initiated coverage on shares of Exelixis in a research report on Friday, November 19th. They issued an “overweight” rating and a $34.00 price target on the stock. TheStreet lowered shares of Exelixis from a “b-” rating to a “c” rating in a research report on Thursday, November 4th. Oppenheimer decreased their price target on shares of Exelixis from $30.00 to $29.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 2nd. Finally, Truist Securities decreased their price objective on shares of Exelixis from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, September 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $32.18.

In related news, EVP Patrick J. Haley sold 25,000 shares of Exelixis stock in a transaction on Thursday, September 16th. The shares were sold at an average price of $20.36, for a total value of $509,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Lamb sold 47,500 shares of Exelixis stock in a transaction on Friday, October 15th. The shares were sold at an average price of $21.92, for a total transaction of $1,041,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 145,117 shares of company stock valued at $2,874,603 in the last three months. Company insiders own 3.30% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. bought a new position in Exelixis in the 3rd quarter worth $25,000. Total Clarity Wealth Management Inc. bought a new position in shares of Exelixis during the 3rd quarter worth about $26,000. Huntington National Bank increased its holdings in shares of Exelixis by 156.4% during the 3rd quarter. Huntington National Bank now owns 1,433 shares of the biotechnology company’s stock worth $30,000 after purchasing an additional 874 shares during the period. MUFG Americas Holdings Corp bought a new position in shares of Exelixis during the 3rd quarter worth about $30,000. Finally, Advisory Services Network LLC bought a new position in shares of Exelixis during the 2nd quarter worth about $43,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Exelixis stock traded up $0.08 during mid-day trading on Thursday, hitting $17.48. The company’s stock had a trading volume of 1,432,488 shares, compared to its average volume of 2,051,408. The stock has a market capitalization of $5.53 billion, a P/E ratio of 34.28, a P/E/G ratio of 0.84 and a beta of 0.94. Exelixis has a twelve month low of $16.19 and a twelve month high of $25.77. The stock’s fifty day moving average price is $20.15 and its two-hundred day moving average price is $20.11.

About Exelixis

Exelixis, Inc is a biopharmaceutical company, which engages in the development, commercialization, and discovery of new medicines for the treatment of cancer. It offers products under the brands of COMETRIQ, CABOMETYX, COTELLIC, and MINNEBRO. The company was founded by Corey S. Goodman and Stelios B.

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Earnings History and Estimates for Exelixis (NASDAQ:EXEL)

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