Zacks: Brokerages Anticipate Exelixis, Inc. (EXEL) to Announce $0.20 EPS

Wall Street brokerages predict that Exelixis, Inc. (NASDAQ:EXEL) will post $0.20 earnings per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Exelixis’ earnings, with the lowest EPS estimate coming in at $0.10 and the highest estimate coming in at $0.31. Exelixis posted earnings of $0.26 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 23.1%. The business is scheduled to issue its next earnings report on Wednesday, November 7th.

According to Zacks, analysts expect that Exelixis will report full-year earnings of $1.03 per share for the current financial year, with EPS estimates ranging from $0.89 to $1.18. For the next year, analysts forecast that the firm will post earnings of $1.13 per share, with EPS estimates ranging from $0.75 to $1.90. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that follow Exelixis.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Wednesday, August 1st. The biotechnology company reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.12. Exelixis had a return on equity of 65.68% and a net margin of 48.17%. The firm had revenue of $186.10 million for the quarter, compared to analysts’ expectations of $157.37 million. During the same period in the previous year, the firm earned $0.06 earnings per share. The business’s revenue was up 88.0% compared to the same quarter last year.

Several research firms recently weighed in on EXEL. ValuEngine lowered Exelixis from a “sell” rating to a “strong sell” rating in a research report on Friday, June 22nd. BidaskClub upgraded Exelixis from a “strong sell” rating to a “sell” rating in a research report on Friday, June 22nd. Zacks Investment Research upgraded Exelixis from a “sell” rating to a “hold” rating in a research report on Monday, April 30th. Needham & Company LLC dropped their price target on Exelixis from $33.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, May 11th. Finally, Stifel Nicolaus dropped their price target on Exelixis from $29.00 to $25.00 and set a “hold” rating on the stock in a research report on Wednesday, August 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $32.67.

In other Exelixis news, Director Vincent T. Marchesi sold 15,000 shares of the business’s stock in a transaction on Friday, May 11th. The stock was sold at an average price of $19.03, for a total value of $285,450.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Patrick J. Haley sold 2,361 shares of the business’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $20.92, for a total value of $49,392.12. The disclosure for this sale can be found here. Insiders have sold 507,786 shares of company stock worth $10,460,547 over the last 90 days. 4.80% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in Exelixis by 109.4% in the first quarter. JPMorgan Chase & Co. now owns 5,035,494 shares of the biotechnology company’s stock worth $111,537,000 after acquiring an additional 2,630,991 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Exelixis by 24.2% in the first quarter. Wells Fargo & Company MN now owns 3,818,088 shares of the biotechnology company’s stock worth $84,571,000 after acquiring an additional 743,225 shares in the last quarter. Old Mutual Global Investors UK Ltd. boosted its holdings in Exelixis by 26.6% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 3,562,369 shares of the biotechnology company’s stock worth $78,906,000 after acquiring an additional 747,398 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Exelixis by 143.0% in the second quarter. Bank of New York Mellon Corp now owns 3,042,525 shares of the biotechnology company’s stock worth $65,476,000 after acquiring an additional 1,790,454 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in Exelixis by 197.8% in the second quarter. First Trust Advisors LP now owns 2,599,525 shares of the biotechnology company’s stock worth $55,942,000 after acquiring an additional 1,726,507 shares in the last quarter. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Exelixis opened at $21.00 on Monday, according to Marketbeat. Exelixis has a 52-week low of $18.50 and a 52-week high of $32.50. The company has a market cap of $6.24 billion, a PE ratio of 20.33 and a beta of 2.02.

About Exelixis

Exelixis, Inc, a biotechnology company, engages in the discovery, development, and commercialization of new medicines to enhance care and outcomes for people with cancer. The company's products include CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of patients with progressive and metastatic medullary thyroid cancer.

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