Exelixis, Inc. (NASDAQ:EXEL) – Equities research analysts at William Blair boosted their Q3 2017 earnings per share (EPS) estimates for Exelixis in a research note issued on Tuesday. William Blair analyst A. Hsieh now expects that the biotechnology company will earn $0.07 per share for the quarter, up from their previous estimate of $0.05. William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for Exelixis’ FY2017 earnings at $0.26 EPS, FY2018 earnings at $0.59 EPS and FY2019 earnings at $1.56 EPS.
Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.02. The firm had revenue of $99.01 million for the quarter, compared to the consensus estimate of $85.27 million. Exelixis had a return on equity of 80.43% and a net margin of 18.20%. The business’s quarterly revenue was up 173.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.15) EPS.
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Other research analysts have also recently issued reports about the company. TheStreet raised Exelixis from a “c” rating to a “b-” rating in a research note on Monday, August 7th. SunTrust Banks, Inc. started coverage on Exelixis in a research note on Thursday, July 13th. They set a “buy” rating and a $33.00 price objective on the stock. BidaskClub cut Exelixis from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 14th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $29.00 price objective on shares of Exelixis in a research note on Thursday, August 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price objective (up from $28.00) on shares of Exelixis in a research note on Tuesday, September 12th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Exelixis currently has a consensus rating of “Buy” and a consensus target price of $31.00.
Exelixis (NASDAQ:EXEL) opened at 28.30 on Wednesday. The firm’s 50-day moving average price is $26.24 and its 200 day moving average price is $23.95. Exelixis has a one year low of $10.04 and a one year high of $30.20. The firm has a market capitalization of $8.32 billion, a P/E ratio of 142.93 and a beta of 1.91.
A number of large investors have recently bought and sold shares of the business. Navellier & Associates Inc bought a new stake in Exelixis in the 2nd quarter worth approximately $1,054,000. Public Employees Retirement System of Ohio grew its position in Exelixis by 123.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 233,322 shares of the biotechnology company’s stock worth $5,747,000 after purchasing an additional 129,008 shares during the period. Verition Fund Management LLC bought a new stake in Exelixis in the 2nd quarter worth approximately $473,000. California State Teachers Retirement System grew its position in Exelixis by 14.9% in the 2nd quarter. California State Teachers Retirement System now owns 515,076 shares of the biotechnology company’s stock worth $12,686,000 after purchasing an additional 66,783 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in Exelixis by 1,923.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 263,086 shares of the biotechnology company’s stock worth $6,480,000 after purchasing an additional 250,086 shares during the period. 79.20% of the stock is owned by institutional investors and hedge funds.
In other Exelixis news, Director Stelios Papadopoulos sold 72,210 shares of Exelixis stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $27.76, for a total value of $2,004,549.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey Hessekiel sold 27,302 shares of Exelixis stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $24.28, for a total transaction of $662,892.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 970,152 shares of company stock valued at $25,923,457. 5.10% of the stock is currently owned by insiders.
Exelixis Company Profile
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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