Exelixis, Inc. (NASDAQ:EXEL) – Equities researchers at SunTrust Banks increased their FY2019 EPS estimates for Exelixis in a report issued on Tuesday, Zacks Investment Research reports. SunTrust Banks analyst P. Lawson now forecasts that the biotechnology company will earn $1.02 per share for the year, up from their prior estimate of $0.94. SunTrust Banks has a “Buy” rating and a $38.00 price objective on the stock. SunTrust Banks also issued estimates for Exelixis’ FY2020 earnings at $1.59 EPS.
Several other research firms have also commented on EXEL. BidaskClub upgraded shares of Exelixis from a “hold” rating to a “buy” rating in a research report on Friday, January 5th. Oppenheimer restated a “hold” rating on shares of Exelixis in a research report on Thursday, January 4th. Cann restated a “hold” rating on shares of Exelixis in a research report on Thursday, January 4th. Zacks Investment Research upgraded shares of Exelixis from a “hold” rating to a “strong-buy” rating and set a $35.00 price target for the company in a research report on Tuesday, January 2nd. Finally, Needham & Company LLC upped their price target on shares of Exelixis from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, October 17th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $32.13.
Exelixis (EXEL) opened at $30.38 on Friday. The company has a market cap of $8,988.01, a PE ratio of 59.57, a PEG ratio of 0.91 and a beta of 1.88. Exelixis has a 12-month low of $16.72 and a 12-month high of $32.50.
Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.08 by $0.18. The business had revenue of $152.50 million during the quarter, compared to analyst estimates of $104.91 million. Exelixis had a net margin of 36.80% and a return on equity of 105.47%. The company’s quarterly revenue was up 145.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.04) earnings per share.
A number of hedge funds have recently bought and sold shares of the stock. Mark Sheptoff Financial Planning LLC acquired a new stake in Exelixis in the 3rd quarter valued at about $120,000. Fisher Asset Management LLC acquired a new stake in Exelixis in the 3rd quarter valued at about $213,000. Caxton Associates LP acquired a new stake in Exelixis in the 2nd quarter valued at about $227,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Exelixis in the 3rd quarter valued at about $236,000. Finally, CIBC Asset Management Inc acquired a new stake in Exelixis in the 3rd quarter valued at about $238,000. 81.15% of the stock is owned by institutional investors and hedge funds.
In related news, Director Alan M. Garber sold 15,000 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $30.30, for a total value of $454,500.00. Following the completion of the sale, the director now owns 64,829 shares of the company’s stock, valued at $1,964,318.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.10% of the company’s stock.
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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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