Exelixis, Inc. (NASDAQ:EXEL) – Investment analysts at Leerink Swann cut their Q3 2017 EPS estimates for shares of Exelixis in a research report issued on Monday. Leerink Swann analyst M. Schmidt now anticipates that the biotechnology company will earn $0.07 per share for the quarter, down from their prior estimate of $0.08. Leerink Swann currently has a “Market Perform” rating and a $28.00 price target on the stock.

A number of other research firms have also recently commented on EXEL. BidaskClub upgraded shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 25th. Royal Bank Of Canada began coverage on Exelixis in a report on Thursday, September 14th. They set an “outperform” rating and a $32.00 target price for the company. TheStreet upgraded Exelixis from a “c” rating to a “b-” rating in a report on Monday, August 7th. Cowen and Company reiterated an “outperform” rating on shares of Exelixis in a report on Thursday, August 10th. Finally, William Blair reiterated an “outperform” rating on shares of Exelixis in a report on Thursday, July 27th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $29.50.

ILLEGAL ACTIVITY NOTICE: This report was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another website, it was stolen and reposted in violation of U.S. and international trademark & copyright legislation. The legal version of this report can be accessed at https://www.thecerbatgem.com/2017/10/13/equities-analysts-set-expectations-for-exelixis-inc-s-q3-2017-earnings-exel.html.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.02. The business had revenue of $99.01 million for the quarter, compared to analysts’ expectations of $85.27 million. Exelixis had a return on equity of 80.43% and a net margin of 18.20%. The company’s quarterly revenue was up 173.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.15) EPS.

In other news, Director Stelios Papadopoulos sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $25.40, for a total value of $254,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christopher J. Senner sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $26.79, for a total value of $2,679,000.00. The disclosure for this sale can be found here. Insiders sold a total of 970,152 shares of company stock valued at $25,923,457 in the last 90 days. 5.10% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in EXEL. First Quadrant L P CA bought a new position in shares of Exelixis in the 2nd quarter valued at about $144,000. Meeder Asset Management Inc. acquired a new stake in Exelixis in the 1st quarter valued at about $170,000. Wetherby Asset Management Inc. acquired a new stake in Exelixis in the 2nd quarter valued at about $218,000. Caxton Associates LP acquired a new stake in Exelixis in the 2nd quarter valued at about $227,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Exelixis in the 1st quarter valued at about $236,000. Institutional investors own 79.20% of the company’s stock.

About Exelixis

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)

Receive News & Stock Ratings for Exelixis Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exelixis Inc. and related stocks with our FREE daily email newsletter.