Exelixis (NASDAQ:EXEL) – Research analysts at SunTrust Banks reduced their Q4 2018 EPS estimates for shares of Exelixis in a report issued on Monday, April 16th. SunTrust Banks analyst P. Lawson now forecasts that the biotechnology company will post earnings of $0.14 per share for the quarter, down from their previous estimate of $0.16. SunTrust Banks has a “Buy” rating and a $38.00 price target on the stock.
Other equities analysts also recently issued research reports about the company. BidaskClub downgraded Exelixis from a “sell” rating to a “strong sell” rating in a research report on Wednesday, April 4th. Cann reissued a “buy” rating and set a $40.00 price target on shares of Exelixis in a research report on Tuesday, March 20th. Zacks Investment Research downgraded Exelixis from a “hold” rating to a “sell” rating in a research report on Tuesday, March 13th. ValuEngine downgraded Exelixis from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Finally, Oppenheimer raised Exelixis from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $34.10.
Exelixis stock opened at $21.42 on Tuesday. Exelixis has a 12 month low of $18.03 and a 12 month high of $32.50. The company has a market capitalization of $6,051.85, a PE ratio of 42.00 and a beta of 2.10.
Exelixis (NASDAQ:EXEL) last posted its earnings results on Monday, February 26th. The biotechnology company reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. Exelixis had a return on equity of 81.05% and a net margin of 34.08%. The company had revenue of $120.10 million for the quarter, compared to the consensus estimate of $120.25 million. During the same quarter in the prior year, the business earned $0.12 earnings per share. The firm’s revenue for the quarter was up 54.8% on a year-over-year basis.
In other Exelixis news, insider Michael Morrissey sold 90,000 shares of the company’s stock in a transaction on Wednesday, April 11th. The stock was sold at an average price of $20.78, for a total transaction of $1,870,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alan M. Garber sold 15,000 shares of the company’s stock in a transaction on Monday, April 16th. The stock was sold at an average price of $20.25, for a total value of $303,750.00. Following the sale, the director now owns 76,329 shares of the company’s stock, valued at $1,545,662.25. The disclosure for this sale can be found here. Insiders have sold 210,029 shares of company stock worth $4,877,737 in the last three months. 5.10% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sigma Planning Corp bought a new position in shares of Exelixis in the 4th quarter valued at $208,000. American International Group Inc. bought a new position in shares of Exelixis in the 4th quarter valued at $208,000. Klingenstein Fields & Co. LLC bought a new position in shares of Exelixis in the 4th quarter valued at $213,000. Globeflex Capital L P bought a new position in shares of Exelixis in the 4th quarter valued at $246,000. Finally, IFG Advisory LLC bought a new position in shares of Exelixis in the 4th quarter valued at $286,000. Hedge funds and other institutional investors own 80.49% of the company’s stock.
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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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