Q3 2016 EPS Estimates for Exelixis Inc. Decreased by Leerink Swann (EXEL)
Exelixis Inc. (NASDAQ:EXEL) – Equities researchers at Leerink Swann cut their Q3 2016 earnings per share (EPS) estimates for Exelixis in a research note issued to investors on Tuesday. Leerink Swann analyst M. Schmidt now forecasts that the brokerage will earn ($0.12) per share for the quarter, down from their previous forecast of ($0.11). Leerink Swann has a “Positive” rating and a $15.00 price target on the stock. Leerink Swann also issued estimates for Exelixis’ Q4 2016 earnings at ($0.05) EPS and FY2016 earnings at ($0.59) EPS.
EXEL has been the subject of several other reports. William Blair reissued an “outperform” rating on shares of Exelixis in a report on Thursday, September 15th. Cowen and Company reissued a “buy” rating on shares of Exelixis in a report on Wednesday, August 10th. S&P Equity Research increased their price target on shares of Exelixis from $13.41 to $15.57 in a report on Wednesday, September 28th. Zacks Investment Research raised shares of Exelixis from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Tuesday, September 13th. Finally, Stifel Nicolaus increased their target price on shares of Exelixis from $10.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Six analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus target price of $13.51.
Shares of Exelixis (NASDAQ:EXEL) opened at 11.32 on Thursday. The firm’s 50-day moving average price is $12.75 and its 200 day moving average price is $8.49. The company’s market cap is $2.61 billion. Exelixis has a 12 month low of $3.55 and a 12 month high of $15.58.
Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.11. The company had revenue of $36.25 million for the quarter, compared to the consensus estimate of $16.76 million. The firm’s revenue was up 353.7% compared to the same quarter last year. During the same period last year, the business posted ($0.22) EPS.
Hedge funds have recently added to or reduced their stakes in the stock. Seven Eight Capital LLC acquired a new stake in Exelixis during the second quarter valued at approximately $105,000. GSA Capital Partners LLP acquired a new stake in Exelixis during the second quarter valued at approximately $117,000. Acrospire Investment Management LLC raised its stake in Exelixis by 444.4% in the second quarter. Acrospire Investment Management LLC now owns 15,253 shares of the biotechnology company’s stock valued at $119,000 after buying an additional 12,451 shares in the last quarter. Stifel Financial Corp raised its stake in Exelixis by 25.7% in the second quarter. Stifel Financial Corp now owns 17,600 shares of the biotechnology company’s stock valued at $138,000 after buying an additional 3,600 shares in the last quarter. Finally, Fox Run Management L.L.C. raised its stake in Exelixis by 12.5% in the third quarter. Fox Run Management L.L.C. now owns 11,700 shares of the biotechnology company’s stock valued at $150,000 after buying an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 81.80% of the company’s stock.
In other news, insider Gisela Schwab sold 42,338 shares of the stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $11.00, for a total value of $465,718.00. Following the sale, the insider now directly owns 174,354 shares in the company, valued at $1,917,894. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.90% of the stock is currently owned by insiders.
Exelixis Company Profile
Exelixis, Inc is a biopharmaceutical company. The Company is engaged in developing small molecule therapies for the treatment of cancer. It focuses on the development and commercialization of cabozantinib, an inhibitor of multiple receptor tyrosine kinases, in various tumor indications. Cabozantinib is indicated for the treatment of progressive, metastatic medullary thyroid cancer, and is sold under the brand name COMETRIQ.
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