Brokerages expect Exelixis (NASDAQ:EXEL) to announce sales of $132.69 million for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Exelixis’ earnings, with the lowest sales estimate coming in at $108.20 million and the highest estimate coming in at $152.59 million. Exelixis posted sales of $80.89 million in the same quarter last year, which would indicate a positive year over year growth rate of 64%. The company is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, May 2nd.
According to Zacks, analysts expect that Exelixis will report full-year sales of $612.02 million for the current fiscal year, with estimates ranging from $537.90 million to $720.06 million. For the next financial year, analysts forecast that the business will report sales of $978.36 million per share, with estimates ranging from $750.00 million to $1.47 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Exelixis.
Exelixis (NASDAQ:EXEL) last posted its earnings results on Monday, February 26th. The biotechnology company reported $0.12 EPS for the quarter, hitting analysts’ consensus estimates of $0.12. Exelixis had a return on equity of 81.05% and a net margin of 34.08%. The company had revenue of $120.10 million for the quarter, compared to the consensus estimate of $120.25 million. During the same period in the previous year, the business earned $0.12 earnings per share. The firm’s revenue for the quarter was up 54.8% on a year-over-year basis.
A number of equities research analysts have issued reports on the company. BidaskClub upgraded Exelixis from a “hold” rating to a “buy” rating in a research report on Friday, January 5th. Cann restated a “hold” rating on shares of Exelixis in a research report on Thursday, January 4th. Oppenheimer restated a “hold” rating on shares of Exelixis in a research report on Thursday, January 4th. Zacks Investment Research upgraded Exelixis from a “hold” rating to a “strong-buy” rating and set a $35.00 price objective on the stock in a research report on Tuesday, January 2nd. Finally, UBS upgraded Exelixis from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $34.10.
In other news, Director Lance Willsey sold 30,000 shares of the stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $23.91, for a total value of $717,300.00. Following the sale, the director now directly owns 483,273 shares in the company, valued at $11,555,057.43. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director George Poste sold 15,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $26.26, for a total value of $393,900.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 195,029 shares of company stock worth $4,573,987. Company insiders own 5.10% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. MANA Advisors LLC purchased a new stake in shares of Exelixis in the fourth quarter worth approximately $1,287,000. Vident Investment Advisory LLC purchased a new stake in shares of Exelixis in the third quarter worth approximately $783,000. Keybank National Association OH raised its holdings in shares of Exelixis by 114.3% in the fourth quarter. Keybank National Association OH now owns 44,793 shares of the biotechnology company’s stock worth $1,362,000 after buying an additional 23,893 shares during the period. Schroder Investment Management Group purchased a new stake in shares of Exelixis in the third quarter worth approximately $334,000. Finally, OppenheimerFunds Inc. raised its holdings in shares of Exelixis by 17.8% in the fourth quarter. OppenheimerFunds Inc. now owns 1,316,745 shares of the biotechnology company’s stock worth $40,029,000 after buying an additional 199,435 shares during the period. Hedge funds and other institutional investors own 80.50% of the company’s stock.
EXEL stock traded down $0.41 during midday trading on Monday, reaching $20.44. 2,488,717 shares of the company traded hands, compared to its average volume of 3,606,676. Exelixis has a 52-week low of $18.03 and a 52-week high of $32.50. The company has a market cap of $6,178.01, a PE ratio of 40.08 and a beta of 2.10.
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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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