Exelixis, Inc. (EXEL) Posts Earnings Results

Exelixis, Inc. (NASDAQ:EXEL) posted its quarterly earnings results on Wednesday. The biotechnology company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.18, Bloomberg Earnings reports. The business had revenue of $152.50 million during the quarter, compared to analysts’ expectations of $104.91 million. Exelixis had a net margin of 18.20% and a return on equity of 80.43%. The business’s quarterly revenue was up 145.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.04) earnings per share.

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In other news, CFO Christopher J. Senner sold 100,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were 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 SEC, which can be accessed through the SEC website. Also, Director Stelios Papadopoulos sold 72,210 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $27.76, for a total transaction of $2,004,549.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 970,152 shares of company stock valued at $25,923,457. 5.10% of the stock is owned by insiders.

EXEL has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Exelixis from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Tuesday, October 10th. Cowen and Company reaffirmed an “outperform” rating on shares of Exelixis in a report on Thursday, August 10th. BidaskClub cut shares of Exelixis from a “strong-buy” rating to a “buy” rating in a report on Monday, August 14th. Royal Bank Of Canada raised their price target on shares of Exelixis from $33.00 to $39.00 and gave the stock an “outperform” rating in a report on Tuesday, October 17th. Finally, William Blair reaffirmed 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 assigned a strong buy rating to the company’s stock. Exelixis presently has a consensus rating of “Buy” and a consensus price target of $31.38.

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.

Earnings History for Exelixis (NASDAQ:EXEL)

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