Brokerages expect Exelixis, Inc. (NASDAQ:EXEL) to report sales of $104.41 million for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Exelixis’ earnings, with estimates ranging from $98.00 million to $110.69 million. Exelixis posted sales of $62.19 million during the same quarter last year, which indicates a positive year-over-year growth rate of 67.9%. The business is expected to issue its next earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that Exelixis will report full year sales of $104.41 million for the current year, with estimates ranging from $383.40 million to $416.83 million. For the next financial year, analysts expect that the company will post sales of $604.14 million per share, with estimates ranging from $514.30 million to $724.98 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Exelixis.
Exelixis (NASDAQ:EXEL) last released its earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share for the quarter, beating the 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 firm had revenue of $99.01 million during the quarter, compared to analyst estimates of $85.27 million. During the same quarter in the previous year, the firm earned ($0.15) earnings per share. The firm’s revenue for the quarter was up 173.1% compared to the same quarter last year.
EXEL has been the subject of a number of analyst reports. Zacks Investment Research raised Exelixis from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a report on Tuesday, July 4th. BidaskClub raised Exelixis from a “buy” rating to a “strong-buy” rating in a report on Friday, August 25th. Deutsche Bank AG cut Exelixis from a “buy” rating to a “hold” rating and lifted their price objective for the company from $26.00 to $29.00 in a report on Thursday, August 3rd. Stifel Nicolaus reissued a “hold” rating and set a $26.00 price objective on shares of Exelixis in a report on Thursday, September 7th. Finally, SunTrust Banks, Inc. initiated coverage on Exelixis in a report on Thursday, July 13th. They set a “buy” rating and a $33.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $31.38.
In related news, Director Stelios Papadopoulos sold 10,000 shares of Exelixis stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $25.40, for a total value of $254,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Patrick J. Haley sold 60,640 shares of Exelixis stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $27.21, for a total value of $1,650,014.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 970,152 shares of company stock valued at $25,923,457. Corporate insiders own 5.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. First Quadrant L P CA acquired a new stake in Exelixis in the second quarter worth about $144,000. Meeder Asset Management Inc. acquired a new stake in Exelixis in the first quarter worth about $170,000. Wetherby Asset Management Inc. acquired a new stake in Exelixis in the second quarter worth about $218,000. Caxton Associates LP acquired a new stake in Exelixis in the second quarter worth about $227,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Exelixis in the first quarter worth about $236,000. Hedge funds and other institutional investors own 79.20% of the company’s stock.
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Exelixis (EXEL) traded down 0.25% during mid-day trading on Friday, reaching $27.46. 3,788,304 shares of the company’s stock traded hands. Exelixis has a 12 month low of $10.04 and a 12 month high of $29.50. The firm’s 50-day moving average price is $26.32 and its 200 day moving average price is $24.10. The stock has a market capitalization of $8.07 billion, a PE ratio of 138.69 and a beta of 1.91.
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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