Equities analysts expect Exelixis (NASDAQ:EXEL) to post $132.69 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Exelixis’ earnings. The lowest sales estimate is $108.20 million and the highest is $152.59 million. Exelixis reported sales of $80.89 million in the same quarter last year, which indicates a positive year-over-year growth rate of 64%. The company is expected to announce its next quarterly earnings report after the market closes on Wednesday, May 2nd.
On average, analysts expect that Exelixis will report full-year sales of $612.02 million for the current financial year, with estimates ranging from $537.90 million to $720.06 million. For the next year, analysts forecast that the company will post sales of $978.36 million per share, with estimates ranging from $750.00 million to $1.47 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Exelixis.
Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Monday, February 26th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. The firm had revenue of $120.10 million for the quarter, compared to analyst estimates of $120.25 million. Exelixis had a net margin of 34.08% and a return on equity of 81.05%. The business’s revenue for the quarter was up 54.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.12 EPS.
Several equities research analysts have recently commented on EXEL shares. BidaskClub upgraded shares of Exelixis from a “hold” rating to a “buy” rating in a research note on Friday, January 5th. Zacks Investment Research upgraded shares of Exelixis from a “hold” rating to a “strong-buy” rating and set a $35.00 target price on the stock in a research note on Tuesday, January 2nd. Cann restated a “buy” rating and issued a $40.00 target price on shares of Exelixis in a research note on Tuesday, March 20th. UBS upgraded shares of Exelixis from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 27th. Finally, TheStreet downgraded shares of Exelixis from a “b” rating to a “c+” rating in a research note on Thursday, March 15th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $34.10.
Exelixis stock traded down $0.04 on Monday, hitting $20.40. The company’s stock had a trading volume of 2,838,368 shares, compared to its average volume of 3,147,827. Exelixis has a one year low of $18.03 and a one year high of $32.50. The firm has a market capitalization of $6,063.71, a PE ratio of 40.00 and a beta of 2.10.
In related news, VP Patrick J. Haley sold 45,029 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $27.13, for a total transaction of $1,221,636.77. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director George Poste sold 15,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $26.26, for a total transaction of $393,900.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 195,029 shares of company stock worth $4,573,987. 5.10% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Sigma Planning Corp acquired a new position in Exelixis during the 4th quarter worth about $208,000. American International Group Inc. acquired a new position in Exelixis during the 4th quarter worth about $208,000. Klingenstein Fields & Co. LLC acquired a new position in Exelixis during the 4th quarter worth about $213,000. Raymond James Financial Services Advisors Inc. acquired a new position in Exelixis during the 3rd quarter worth about $236,000. Finally, Mackenzie Financial Corp lifted its position in Exelixis by 24.1% during the 3rd quarter. Mackenzie Financial Corp now owns 10,116 shares of the biotechnology company’s stock worth $245,000 after buying an additional 1,963 shares in the last quarter. Institutional investors and hedge funds own 80.49% of the company’s stock.
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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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