Exelixis, Inc. (NASDAQ:EXEL) – Analysts at Leerink Swann lifted their FY2017 earnings per share (EPS) estimates for Exelixis in a research report issued on Friday, according to Zacks Investment Research. Leerink Swann analyst M. Schmidt now anticipates that the biotechnology company will post earnings of $0.45 per share for the year, up from their previous estimate of $0.44. Leerink Swann currently has a “Market Perform” rating and a $28.00 target price on the stock. Leerink Swann also issued estimates for Exelixis’ Q1 2018 earnings at $0.11 EPS, Q2 2018 earnings at $0.15 EPS, Q3 2018 earnings at $0.16 EPS, Q4 2018 earnings at $0.21 EPS and FY2020 earnings at $1.77 EPS.
A number of other analysts have also weighed in on EXEL. Oppenheimer reissued a “hold” rating on shares of Exelixis in a research report on Monday, September 25th. Needham & Company LLC reissued a “buy” rating and issued a $30.00 price objective on shares of Exelixis in a research report on Monday, October 2nd. Zacks Investment Research raised shares of Exelixis from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research report on Tuesday, October 10th. Cann reissued a “hold” rating on shares of Exelixis in a research report on Monday, October 16th. Finally, SunTrust Banks raised their target price on shares of Exelixis from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, October 16th. 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 stock. The stock currently has an average rating of “Buy” and an average price target of $32.13.
Shares of Exelixis (NASDAQ:EXEL) opened at $29.65 on Monday. Exelixis has a 1 year low of $16.72 and a 1 year high of $32.50. The stock has a market cap of $8,988.02, a PE ratio of 60.51, a PEG ratio of 0.91 and a beta of 1.88.
Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, November 1st. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.18. The firm had revenue of $152.50 million for the quarter, compared to analysts’ expectations of $104.91 million. Exelixis had a net margin of 36.80% and a return on equity of 105.47%. The business’s revenue was up 145.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.04) EPS.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Exelixis by 2.0% during the second quarter. FMR LLC now owns 43,748,695 shares of the biotechnology company’s stock valued at $1,077,530,000 after purchasing an additional 857,452 shares in the last quarter. Vanguard Group Inc. boosted its stake in Exelixis by 7.2% in the second quarter. Vanguard Group Inc. now owns 25,441,964 shares of the biotechnology company’s stock valued at $626,635,000 after acquiring an additional 1,706,893 shares in the last quarter. Matrix Capital Management Company LP boosted its stake in Exelixis by 8.8% in the second quarter. Matrix Capital Management Company LP now owns 15,117,460 shares of the biotechnology company’s stock valued at $372,343,000 after acquiring an additional 1,225,000 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Exelixis by 13.1% in the second quarter. Goldman Sachs Group Inc. now owns 7,059,232 shares of the biotechnology company’s stock valued at $173,869,000 after acquiring an additional 818,782 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in Exelixis by 6.5% in the third quarter. Jennison Associates LLC now owns 3,061,003 shares of the biotechnology company’s stock valued at $74,168,000 after acquiring an additional 187,654 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.
In other news, Director Alan M. Garber sold 15,000 shares of the stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $30.30, for a total transaction of $454,500.00. Following the transaction, the director now directly owns 64,829 shares in the company, valued at $1,964,318.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.10% of the stock is currently owned by company insiders.
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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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