SunTrust Banks Analysts Raise Earnings Estimates for Exelixis (EXEL)

Exelixis (NASDAQ:EXEL) – Stock analysts at SunTrust Banks increased their Q1 2018 earnings estimates for Exelixis in a research note issued on Monday, April 16th. SunTrust Banks analyst P. Lawson now forecasts that the biotechnology company will earn $0.08 per share for the quarter, up from their previous estimate of $0.05. SunTrust Banks currently has a “Buy” rating and a $38.00 price target on the stock. SunTrust Banks also issued estimates for Exelixis’ FY2018 earnings at $0.43 EPS.

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Exelixis (NASDAQ:EXEL) last issued its earnings results on Monday, February 26th. The biotechnology company reported $0.12 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.12. The firm had revenue of $120.10 million during the quarter, compared to analysts’ expectations of $120.25 million. Exelixis had a net margin of 34.08% and a return on equity of 81.05%. The firm’s revenue for the quarter was up 54.8% compared to the same quarter last year. During the same period last year, the firm posted $0.12 earnings per share.

EXEL has been the subject of a number of other reports. Cann upgraded shares of Exelixis from a “market perform” rating to an “outperform” rating and set a $40.00 target price for the company in a report on Tuesday, February 27th. They noted that the move was a valuation call. Stifel Nicolaus raised their target price on shares of Exelixis from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Tuesday, February 27th. Zacks Investment Research upgraded shares of Exelixis from a “hold” rating to a “strong-buy” rating and set a $35.00 target price for the company in a report on Tuesday, January 2nd. William Blair restated an “outperform” rating on shares of Exelixis in a report on Monday, February 12th. Finally, BidaskClub upgraded shares of Exelixis from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $34.10.

Shares of NASDAQ:EXEL opened at $21.67 on Wednesday. The company has a market cap of $6,051.85, a P/E ratio of 42.49 and a beta of 2.10. Exelixis has a 1-year low of $18.03 and a 1-year high of $32.50.

A number of institutional investors have recently bought and sold shares of the stock. Public Employees Retirement Association of Colorado boosted its stake in 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 worth $1,640,000 after purchasing an additional 1,840 shares during the period. Stifel Financial Corp lifted its position in Exelixis by 2.8% in the 3rd quarter. Stifel Financial Corp now owns 72,974 shares of the biotechnology company’s stock worth $1,768,000 after buying an additional 2,009 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in Exelixis by 8.7% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 26,607 shares of the biotechnology company’s stock worth $645,000 after buying an additional 2,138 shares in the last quarter. Amalgamated Bank lifted its position in Exelixis by 5.7% in the 4th quarter. Amalgamated Bank now owns 57,785 shares of the biotechnology company’s stock worth $1,757,000 after buying an additional 3,141 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in Exelixis by 41.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 13,817 shares of the biotechnology company’s stock worth $420,000 after buying an additional 4,067 shares in the last quarter. 80.49% of the stock is owned by hedge funds and other institutional investors.

In related news, Director George Poste sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $26.26, for a total value of $393,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Patrick J. Haley sold 45,029 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $27.13, for a total transaction of $1,221,636.77. The disclosure for this sale can be found here. Insiders sold a total of 195,029 shares of company stock valued at $4,573,987 in the last ninety days. Company 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.

Earnings History and Estimates for Exelixis (NASDAQ:EXEL)

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