Exelixis, Inc. (NASDAQ:EXEL) – Research analysts at Oppenheimer reduced their Q3 2019 earnings per share estimates for Exelixis in a report released on Wednesday, July 31st, Zacks Investment Research reports. Oppenheimer analyst S. Tuerkcan now anticipates that the biotechnology company will post earnings of $0.16 per share for the quarter, down from their prior forecast of $0.17. Oppenheimer also issued estimates for Exelixis’ Q4 2019 earnings at $0.16 EPS, FY2019 earnings at $0.82 EPS, FY2020 earnings at $0.94 EPS, FY2021 earnings at $0.97 EPS and FY2023 earnings at $1.63 EPS.
Other analysts have also recently issued reports about the company. BidaskClub raised Exelixis from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. Zacks Investment Research raised Exelixis from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Tuesday, August 6th. ValuEngine cut Exelixis from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. Cowen set a $25.00 target price on Exelixis and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley set a $27.00 target price on Exelixis and gave the stock a “hold” rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $27.75.
Exelixis stock traded up $0.93 during mid-day trading on Monday, reaching $22.65. 3,689,809 shares of the company were exchanged, compared to its average volume of 3,238,542. Exelixis has a twelve month low of $13.42 and a twelve month high of $25.31. The firm’s 50-day simple moving average is $20.92 and its two-hundred day simple moving average is $21.52. The company has a debt-to-equity ratio of 0.02, a quick ratio of 8.53 and a current ratio of 8.64. The firm has a market cap of $6.04 billion, a PE ratio of 15.84 and a beta of 1.98.
Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Wednesday, July 31st. The biotechnology company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. Exelixis had a return on equity of 31.31% and a net margin of 70.52%. The company had revenue of $240.28 million during the quarter, compared to analysts’ expectations of $226.97 million. During the same period last year, the firm earned $0.31 EPS. The firm’s revenue for the quarter was up 29.1% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Oakbrook Investments LLC increased its stake in Exelixis by 1.4% in the 1st quarter. Oakbrook Investments LLC now owns 36,600 shares of the biotechnology company’s stock valued at $871,000 after purchasing an additional 500 shares in the last quarter. Cornerstone Advisors Inc. increased its stake in Exelixis by 26.5% in the 1st quarter. Cornerstone Advisors Inc. now owns 2,413 shares of the biotechnology company’s stock valued at $57,000 after purchasing an additional 505 shares in the last quarter. Fulton Breakefield Broenniman LLC increased its stake in Exelixis by 3.8% in the 2nd quarter. Fulton Breakefield Broenniman LLC now owns 15,399 shares of the biotechnology company’s stock valued at $329,000 after purchasing an additional 560 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in Exelixis by 1.1% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 55,490 shares of the biotechnology company’s stock valued at $1,186,000 after purchasing an additional 600 shares in the last quarter. Finally, First Mercantile Trust Co. increased its stake in Exelixis by 10.9% in the 2nd quarter. First Mercantile Trust Co. now owns 6,386 shares of the biotechnology company’s stock valued at $136,000 after purchasing an additional 627 shares in the last quarter. 76.79% of the stock is owned by hedge funds and other institutional investors.
In other news, Director George A. Scangos sold 40,000 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $19.76, for a total transaction of $790,400.00. Following the completion of the transaction, the director now directly owns 1,223,031 shares of the company’s stock, valued at approximately $24,167,092.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Peter Lamb sold 217,404 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $20.59, for a total value of $4,476,348.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 577,522 shares of company stock valued at $11,879,261. Company insiders own 4.50% of the company’s stock.
About Exelixis
Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. 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.