Exelixis, Inc. (NASDAQ:EXEL) – Research analysts at SunTrust Banks raised their FY2018 EPS estimates for shares of Exelixis in a research note issued to investors on Monday. SunTrust Banks analyst P. Lawson now anticipates that the biotechnology company will post earnings per share of $0.62 for the year, up from their prior estimate of $0.60. SunTrust Banks has a “Buy” rating and a $35.00 price objective on the stock. SunTrust Banks also issued estimates for Exelixis’ FY2019 earnings at $1.13 EPS and FY2020 earnings at $1.51 EPS.
A number of other research firms have also weighed in on EXEL. Zacks Investment Research raised shares of Exelixis from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Tuesday, October 10th. Needham & Company LLC upped their target price on shares of Exelixis from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday. William Blair reaffirmed an “outperform” rating on shares of Exelixis in a report on Thursday, July 27th. Cann reaffirmed a “hold” rating on shares of Exelixis in a report on Thursday, July 20th. Finally, BidaskClub raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a report on Friday, August 25th. Six 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. The stock has a consensus rating of “Buy” and an average target price of $31.38.
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Exelixis (NASDAQ:EXEL) traded down 0.044% during mid-day trading on Wednesday, hitting $27.518. 2,447,008 shares of the company traded hands. Exelixis has a one year low of $10.04 and a one year high of $29.50. The firm has a market capitalization of $8.09 billion, a P/E ratio of 138.980 and a beta of 1.91. The firm has a 50 day moving average of $26.34 and a 200 day moving average of $24.08.
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. Exelixis had a net margin of 18.20% and a return on equity of 80.43%. The company had revenue of $99.01 million for the quarter, compared to analysts’ expectations of $85.27 million. During the same period last year, the firm earned ($0.15) earnings per share. The business’s revenue for the quarter was up 173.1% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Legal & General Group Plc raised its holdings in Exelixis by 1.3% in the 1st quarter. Legal & General Group Plc now owns 84,763 shares of the biotechnology company’s stock worth $1,834,000 after purchasing an additional 1,078 shares in the last quarter. Aperio Group LLC raised its holdings in Exelixis by 2.7% in the 2nd quarter. Aperio Group LLC now owns 58,345 shares of the biotechnology company’s stock worth $1,437,000 after purchasing an additional 1,514 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in Exelixis by 7.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 23,251 shares of the biotechnology company’s stock worth $573,000 after purchasing an additional 1,517 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in Exelixis by 26.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 9,957 shares of the biotechnology company’s stock worth $245,000 after purchasing an additional 2,091 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in Exelixis by 17.7% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 14,128 shares of the biotechnology company’s stock worth $348,000 after purchasing an additional 2,129 shares in the last quarter. Institutional investors and hedge funds own 79.20% of the company’s stock.
In other Exelixis news, CFO Christopher J. Senner sold 100,000 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $26.79, for a total transaction of $2,679,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stelios Papadopoulos sold 200,000 shares of the stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $27.68, for a total transaction of $5,536,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 970,152 shares of company stock valued at $25,923,457 in the last three months. 5.10% of the stock is currently owned by corporate insiders.
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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