Exelixis, Inc. (NASDAQ:EXEL) – Research analysts at William Blair boosted their Q4 2017 earnings estimates for Exelixis in a note issued to investors on Monday. William Blair analyst A. Hsieh now forecasts that the biotechnology company will post earnings of $0.10 per share for the quarter, up from their prior estimate of $0.07. William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for Exelixis’ Q4 2018 earnings at $0.25 EPS.
Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 EPS for the quarter, beating the Zacks’ 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 company had revenue of $99.01 million during the quarter, compared to analyst estimates of $85.27 million. During the same period in the prior year, the business posted ($0.15) EPS. The firm’s revenue was up 173.1% compared to the same quarter last year. TRADEMARK VIOLATION WARNING: “William Blair Brokers Raise Earnings Estimates for Exelixis, Inc. (EXEL)” was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this news story on another website, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The legal version of this news story can be read at https://www.dispatchtribunal.com/2017/10/27/william-blair-brokers-raise-earnings-estimates-for-exelixis-inc-exel.html.
Several other analysts also recently weighed in on the company. Needham & Company LLC lifted their price objective on Exelixis from $30.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday. Royal Bank Of Canada lifted their price objective on Exelixis from $33.00 to $39.00 and gave the company an “outperform” rating in a report on Tuesday. Stifel Nicolaus restated a “hold” rating and issued a $26.00 price objective on shares of Exelixis in a report on Tuesday. Piper Jaffray Companies restated an “overweight” rating on shares of Exelixis in a report on Monday. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Exelixis in a report on Monday. Six 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’s stock. The company has a consensus rating of “Buy” and an average price target of $31.00.
In other Exelixis news, insider Gisela Schwab sold 100,000 shares of the business’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $23.79, for a total value of $2,379,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stelios Papadopoulos sold 72,210 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $27.76, for a total transaction of $2,004,549.60. The disclosure for this sale can be found here. Insiders sold 970,152 shares of company stock valued at $25,923,457 over the last quarter. 5.10% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. First Quadrant L P CA bought a new position in Exelixis in the second quarter worth about $144,000. Meeder Asset Management Inc. bought a new position in Exelixis in the first quarter worth about $170,000. Wetherby Asset Management Inc. bought a new position in Exelixis in the second quarter worth about $218,000. Caxton Associates LP bought a new position in Exelixis in the second quarter worth about $227,000. Finally, Capstone Asset Management Co. bought a new position in Exelixis in the second quarter worth about $242,000. Institutional investors and hedge funds own 79.20% 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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