William Blair Analysts Raise Earnings Estimates for Exelixis, Inc. (EXEL)
Exelixis, Inc. (NASDAQ:EXEL) – Research analysts at William Blair lifted their FY2019 EPS estimates for Exelixis in a research report issued to clients and investors on Monday. William Blair analyst A. Hsieh now forecasts that the biotechnology company will post earnings per share of $1.24 for the year, up from their previous estimate of $1.09. William Blair has a “Outperform” rating on the stock.
Exelixis (NASDAQ:EXEL) last announced its earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of $99.01 million for the quarter, compared to the consensus estimate of $85.27 million. Exelixis had a net margin of 18.20% and a return on equity of 80.43%. Exelixis’s quarterly revenue was up 173.1% on a year-over-year basis. During the same period last year, the firm posted ($0.15) earnings per share.
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Several other equities analysts also recently weighed in on EXEL. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Exelixis in a research report on Monday, June 5th. BidaskClub raised Exelixis from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. Zacks Investment Research raised Exelixis from a “hold” rating to a “strong-buy” rating and set a $29.00 price objective on the stock in a research report on Tuesday, June 27th. SunTrust Banks, Inc. began coverage on Exelixis in a research report on Thursday, July 13th. They issued a “buy” rating and a $33.00 price objective on the stock. Finally, Cann reaffirmed a “hold” rating on shares of Exelixis in a research report on Thursday, July 20th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Exelixis has a consensus rating of “Buy” and an average target price of $25.82.
Shares of Exelixis (NASDAQ EXEL) traded up 2.71% on Tuesday, reaching $26.95. 3,291,636 shares of the company’s stock were exchanged. The firm has a market cap of $7.92 billion, a PE ratio of 136.11 and a beta of 1.97. Exelixis has a one year low of $10.04 and a one year high of $29.50. The company has a 50 day moving average price of $27.13 and a 200 day moving average price of $23.24.
Institutional investors have recently added to or reduced their stakes in the business. First Quadrant L P CA purchased a new stake in Exelixis in the second quarter valued at about $144,000. Meeder Asset Management Inc. purchased a new stake in Exelixis in the first quarter valued at about $170,000. Atlantic Trust Group LLC purchased a new stake in Exelixis in the first quarter valued at about $216,000. Wetherby Asset Management Inc. purchased a new stake in Exelixis in the second quarter valued at about $218,000. Finally, Caxton Associates LP purchased a new stake in Exelixis in the second quarter valued at about $227,000. Institutional investors own 79.20% 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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