Q4 2017 EPS Estimates for Exelixis, Inc. (EXEL) Reduced by Leerink Swann
Exelixis, Inc. (NASDAQ:EXEL) – Stock analysts at Leerink Swann decreased their Q4 2017 earnings estimates for shares of Exelixis in a research report issued to clients and investors on Monday. Leerink Swann analyst M. Schmidt now expects that the biotechnology company will post earnings per share of $0.07 for the quarter, down from their prior estimate of $0.08. Leerink Swann has a “Market Perform” rating and a $28.00 price target on the stock. Leerink Swann also issued estimates for Exelixis’ FY2018 earnings at $0.65 EPS, FY2019 earnings at $1.36 EPS and FY2020 earnings at $2.02 EPS.
Several other research firms also recently commented on EXEL. Zacks Investment Research raised Exelixis from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research note on Tuesday, October 10th. SunTrust Banks, Inc. raised their price objective on Exelixis from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday. Needham & Company LLC lifted their target price on Exelixis from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday. William Blair reissued an “outperform” rating on shares of Exelixis in a research note on Thursday, July 27th. Finally, Cann reissued a “hold” rating on shares of Exelixis in a research note on Thursday, July 20th. Six investment 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 target price of $31.00.
ILLEGAL ACTIVITY NOTICE: “Q4 2017 EPS Estimates for Exelixis, Inc. (EXEL) Reduced by Leerink Swann” was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark law. The correct version of this article can be accessed at https://www.thecerbatgem.com/2017/10/18/q4-2017-eps-estimates-for-exelixis-inc-exel-reduced-by-leerink-swann.html. Exelixis (NASDAQ:EXEL) last posted its earnings results on Wednesday, August 2nd. The biotechnology company reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.02. The business had revenue of $99.01 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.15) EPS.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EXEL. First Quadrant L P CA purchased a new position in Exelixis during the 2nd quarter valued at approximately $144,000. Meeder Asset Management Inc. purchased a new position in Exelixis during the 1st quarter valued at approximately $170,000. Wetherby Asset Management Inc. purchased a new position in Exelixis during the 2nd quarter valued at approximately $218,000. Caxton Associates LP purchased a new position in Exelixis during the 2nd quarter valued at approximately $227,000. Finally, Capstone Asset Management Co. purchased a new position in Exelixis during the 2nd quarter valued at approximately $242,000. Institutional investors and hedge funds own 79.20% of the company’s stock.
In other Exelixis news, CFO Christopher J. Senner sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $26.79, for a total transaction of $2,679,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Morrissey sold 300,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $26.90, for a total value of $8,070,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 970,152 shares of company stock worth $25,923,457 in the last three months. 5.10% of the stock is owned by corporate insiders.
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.
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.