Exelixis, Inc. (NASDAQ:EXEL) – Analysts at SunTrust Banks upped their FY2018 EPS estimates for shares of Exelixis in a report released on Tuesday, according to Zacks Investment Research. SunTrust Banks analyst P. Lawson now expects that the biotechnology company will earn $0.73 per share for the year, up from their previous estimate of $0.65. SunTrust Banks currently has a “Buy” rating and a $38.00 target price on the stock. SunTrust Banks also issued estimates for Exelixis’ Q4 2018 earnings at $0.36 EPS and FY2021 earnings at $2.16 EPS.
Other research analysts have also recently issued research reports about the stock. Cann restated a “hold” rating on shares of Exelixis in a research note on Monday, October 16th. Leerink Swann cut shares of Exelixis from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $34.00 to $28.00 in a research note on Friday, September 22nd. Oppenheimer restated a “hold” rating on shares of Exelixis in a research note on Monday, October 16th. Stifel Nicolaus restated a “hold” rating and set a $26.00 target price on shares of Exelixis in a research note on Tuesday, October 17th. Finally, Zacks Investment Research upgraded shares of Exelixis from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Wednesday, October 18th. Six 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 company has an average rating of “Buy” and an average target price of $32.13.
Exelixis (NASDAQ EXEL) opened at $30.38 on Thursday. Exelixis has a one year low of $16.72 and a one year high of $32.50. The firm has a market cap of $8,990.00, a price-to-earnings ratio of 62.00, a P/E/G ratio of 0.90 and a beta of 1.88.
Exelixis (NASDAQ:EXEL) last released its earnings results on Wednesday, November 1st. The biotechnology company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.18. Exelixis had a net margin of 36.80% and a return on equity of 105.47%. The company had revenue of $152.50 million for the quarter, compared to analysts’ expectations of $104.91 million. During the same quarter in the previous year, the company earned ($0.04) EPS. Exelixis’s revenue for the quarter was up 145.2% on a year-over-year basis.
In other Exelixis news, Director Alan M. Garber sold 15,000 shares of the business’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $30.30, for a total value of $454,500.00. Following the sale, the director now owns 64,829 shares in the company, valued at approximately $1,964,318.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.10% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in EXEL. Great West Life Assurance Co. Can raised its position in shares of Exelixis by 22.3% during the 2nd quarter. Great West Life Assurance Co. Can now owns 34,671 shares of the biotechnology company’s stock valued at $852,000 after buying an additional 6,329 shares in the last quarter. Sei Investments Co. raised its position in shares of Exelixis by 332.2% during the 2nd quarter. Sei Investments Co. now owns 103,055 shares of the biotechnology company’s stock valued at $2,538,000 after buying an additional 79,210 shares in the last quarter. Cigna Investments Inc. New purchased a new stake in shares of Exelixis during the 2nd quarter valued at about $243,000. Canada Pension Plan Investment Board purchased a new stake in shares of Exelixis during the 2nd quarter valued at about $1,138,000. Finally, Rhumbline Advisers raised its position in shares of Exelixis by 37.6% during the 2nd quarter. Rhumbline Advisers now owns 329,053 shares of the biotechnology company’s stock valued at $8,105,000 after buying an additional 89,945 shares in the last quarter. Hedge funds and other institutional investors own 81.15% of the company’s stock.
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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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