Brokerages forecast that Exelixis, Inc. (NASDAQ:EXEL) will report $118.15 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Exelixis’ earnings. The lowest sales estimate is $108.10 million and the highest is $133.73 million. Exelixis posted sales of $77.58 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 52.3%. The business is expected to issue its next earnings results after the market closes on Monday, February 26th.
According to Zacks, analysts expect that Exelixis will report full year sales of $118.15 million for the current fiscal year, with estimates ranging from $440.40 million to $466.03 million. For the next financial year, analysts anticipate that the company will report sales of $627.56 million per share, with estimates ranging from $515.80 million to $762.02 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Exelixis.
EXEL has been the subject of several recent analyst reports. BidaskClub upgraded Exelixis from a “hold” rating to a “buy” rating in a research report on Friday, January 5th. SunTrust Banks reiterated a “buy” rating and issued a $38.00 price objective on shares of Exelixis in a report on Thursday, December 21st. Oppenheimer reiterated a “hold” rating on shares of Exelixis in a report on Wednesday, January 17th. Cann reiterated a “hold” rating on shares of Exelixis in a report on Thursday, January 4th. Finally, William Blair reiterated an “outperform” rating on shares of Exelixis in a report on Monday, February 12th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $32.13.
In other news, Director Alan M. Garber sold 15,000 shares of the company’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $30.30, for a total value of $454,500.00. Following the completion of the transaction, the director now directly owns 64,829 shares in the company, valued at approximately $1,964,318.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.10% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado lifted its stake in shares of Exelixis by 3.5% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 53,942 shares of the biotechnology company’s stock valued at $1,640,000 after acquiring an additional 1,840 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Exelixis by 24.1% in the 3rd quarter. Mackenzie Financial Corp now owns 10,116 shares of the biotechnology company’s stock valued at $245,000 after acquiring an additional 1,963 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Exelixis by 2.8% in the 3rd quarter. Stifel Financial Corp now owns 72,974 shares of the biotechnology company’s stock valued at $1,768,000 after acquiring an additional 2,009 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Exelixis by 8.7% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 26,607 shares of the biotechnology company’s stock valued at $645,000 after acquiring an additional 2,138 shares during the last quarter. Finally, Swiss National Bank lifted its stake in shares of Exelixis by 0.5% in the 3rd quarter. Swiss National Bank now owns 489,200 shares of the biotechnology company’s stock valued at $11,853,000 after acquiring an additional 2,300 shares during the last quarter. 81.43% of the stock is owned by institutional investors.
Exelixis (EXEL) opened at $29.18 on Friday. Exelixis has a 52-week low of $18.03 and a 52-week high of $32.50. The company has a market capitalization of $8,810.51, a PE ratio of 59.55, a P/E/G ratio of 0.84 and a beta of 1.84.
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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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