Exelixis, Inc. (NASDAQ:EXEL) – Analysts at SunTrust Banks lifted their FY2018 EPS estimates for Exelixis in a note issued to investors on Tuesday. SunTrust Banks analyst P. Lawson now anticipates that the biotechnology company will earn $0.73 per share for the year, up from their prior estimate of $0.65. SunTrust Banks currently has a “Buy” rating and a $38.00 price target on the stock. SunTrust Banks also issued estimates for Exelixis’ Q4 2018 earnings at $0.36 EPS and FY2021 earnings at $2.16 EPS.
Several other equities analysts also recently commented on the stock. BidaskClub raised shares of Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 25th. Stifel Nicolaus reiterated a “hold” rating and set a $26.00 price target on shares of Exelixis in a research report on Thursday, September 7th. Leerink Swann cut shares of Exelixis from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $34.00 to $28.00 in a research report on Friday, September 22nd. TheStreet upgraded shares of Exelixis from a “c+” rating to a “b-” rating in a research report on Wednesday, October 18th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $29.00 price target on shares of Exelixis in a research report on Sunday, September 10th. Six equities research 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. Exelixis has an average rating of “Buy” and an average target price of $31.75.
Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Wednesday, November 1st. The biotechnology company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.08 by $0.18. The firm had revenue of $152.50 million during the quarter, compared to the consensus estimate of $104.91 million. Exelixis had a net margin of 36.80% and a return on equity of 105.47%. The company’s quarterly revenue was up 145.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.04) earnings per share.
In other Exelixis news, EVP Jeffrey Hessekiel sold 27,302 shares of the company’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $24.28, for a total value of $662,892.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Gisela Schwab sold 100,000 shares of the company’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $23.79, for a total transaction of $2,379,000.00. The disclosure for this sale can be found here. 5.10% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mackenzie Financial Corp grew its holdings in Exelixis by 24.1% in the third quarter. Mackenzie Financial Corp now owns 10,116 shares of the biotechnology company’s stock worth $245,000 after purchasing an additional 1,963 shares during the period. Stifel Financial Corp grew its holdings in Exelixis by 2.8% in the third quarter. Stifel Financial Corp now owns 72,974 shares of the biotechnology company’s stock worth $1,768,000 after purchasing an additional 2,009 shares during the period. Oppenheimer & Co. Inc. grew its holdings in Exelixis by 17.7% in the second quarter. Oppenheimer & Co. Inc. now owns 14,128 shares of the biotechnology company’s stock worth $348,000 after purchasing an additional 2,129 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its holdings in Exelixis by 8.7% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 26,607 shares of the biotechnology company’s stock worth $645,000 after purchasing an additional 2,138 shares during the period. Finally, Swiss National Bank grew its holdings in Exelixis by 0.5% in the third quarter. Swiss National Bank now owns 489,200 shares of the biotechnology company’s stock worth $11,853,000 after purchasing an additional 2,300 shares during the period. Institutional investors and hedge funds own 81.15% of the company’s stock.
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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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