Exelixis, Inc. (NASDAQ:EXEL) Expected to Announce Quarterly Sales of $84.58 Million
Brokerages expect Exelixis, Inc. (NASDAQ:EXEL) to report $84.58 million in sales for the current quarter, Zacks reports. Six analysts have provided estimates for Exelixis’ earnings. The lowest sales estimate is $75.00 million and the highest is $94.21 million. Exelixis reported sales of $36.25 million during the same quarter last year, which would suggest a positive year over year growth rate of 133.3%. The business is expected to report its next earnings report after the market closes on Wednesday, August 2nd.
On average, analysts expect that Exelixis will report full year sales of $84.58 million for the current fiscal year, with estimates ranging from $328.30 million to $403.47 million. For the next year, analysts forecast that the firm will post sales of $567.92 million per share, with estimates ranging from $497.52 million to $702.32 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for Exelixis.
Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Monday, May 1st. The biotechnology company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The company had revenue of $80.90 million for the quarter, compared to analyst estimates of $65.23 million. Exelixis had a return on equity of 64.08% and a net margin of 20.65%. The company’s quarterly revenue was up 425.3% compared to the same quarter last year. During the same period last year, the company earned ($0.27) earnings per share.
A number of equities analysts have commented on the company. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Exelixis in a research note on Monday, June 5th. Needham & Company LLC assumed coverage on Exelixis in a research note on Friday, March 31st. They issued a “buy” rating and a $28.00 price objective on the stock. William Blair reissued an “outperform” rating on shares of Exelixis in a research note on Monday, June 26th. SunTrust Banks, Inc. assumed coverage on Exelixis in a research note on Thursday. They issued a “buy” rating and a $33.00 price objective on the stock. Finally, Cann reissued a “hold” rating on shares of Exelixis in a research note on Wednesday, April 19th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Exelixis currently has an average rating of “Buy” and a consensus price target of $20.95.
Shares of Exelixis (NASDAQ EXEL) traded up 0.60% on Friday, hitting $26.74. The stock had a trading volume of 6,202,096 shares. The company has a market cap of $7.82 billion, a price-to-earnings ratio of 1273.33 and a beta of 1.88. The firm has a 50 day moving average price of $20.79 and a 200-day moving average price of $20.23. Exelixis has a 52 week low of $7.81 and a 52 week high of $27.63.
In other news, insider Michael Morrissey sold 259,149 shares of the business’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $22.24, for a total transaction of $5,763,473.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patrick J. Haley sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $18.46, for a total value of $92,300.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 709,647 shares of company stock valued at $15,673,068. 5.10% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its stake in Exelixis by 167.1% in the first quarter. Wells Fargo & Company MN now owns 1,460,194 shares of the biotechnology company’s stock worth $31,642,000 after buying an additional 913,454 shares during the last quarter. Old Mutual Global Investors UK Ltd. increased its stake in Exelixis by 237.5% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 5,041,260 shares of the biotechnology company’s stock worth $109,244,000 after buying an additional 3,547,665 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Exelixis by 2.8% in the first quarter. Russell Investments Group Ltd. now owns 624,628 shares of the biotechnology company’s stock worth $13,535,000 after buying an additional 17,070 shares during the last quarter. Strs Ohio increased its stake in Exelixis by 37.8% in the first quarter. Strs Ohio now owns 47,400 shares of the biotechnology company’s stock worth $1,027,000 after buying an additional 13,000 shares during the last quarter. Finally, First Citizens Bank & Trust Co. purchased a new stake in Exelixis during the first quarter worth $383,000. Institutional investors own 80.69% of the company’s stock.
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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