Exelixis, Inc. (NASDAQ:EXEL) – Stock analysts at SunTrust Banks lifted their FY2019 earnings per share estimates for Exelixis in a research note issued to investors on Wednesday, January 15th. SunTrust Banks analyst A. Goonewardene now expects that the biotechnology company will earn $0.92 per share for the year, up from their prior forecast of $0.85. SunTrust Banks currently has a “Buy” rating and a $31.00 target price on the stock. SunTrust Banks also issued estimates for Exelixis’ Q4 2019 earnings at $0.05 EPS, Q1 2020 earnings at $0.13 EPS, Q2 2020 earnings at $0.31 EPS, Q3 2020 earnings at $0.33 EPS, Q4 2020 earnings at $0.36 EPS, FY2020 earnings at $1.18 EPS, FY2021 earnings at $1.40 EPS, FY2022 earnings at $1.96 EPS, FY2023 earnings at $2.24 EPS and FY2024 earnings at $2.53 EPS.
Several other research firms have also commented on EXEL. Cowen restated a “buy” rating and set a $23.00 price target on shares of Exelixis in a research report on Sunday. Needham & Company LLC restated a “buy” rating and set a $30.00 price target on shares of Exelixis in a research report on Friday, December 13th. ValuEngine upgraded Exelixis from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. William Blair reiterated a “buy” rating on shares of Exelixis in a report on Thursday, January 9th. Finally, Bank of America reiterated a “buy” rating and issued a $21.00 target price (down from $22.00) on shares of Exelixis in a report on Monday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. Exelixis currently has an average rating of “Buy” and an average price target of $25.91.
EXEL opened at $20.40 on Thursday. Exelixis has a 52 week low of $15.02 and a 52 week high of $25.31. The business has a fifty day simple moving average of $17.86 and a 200-day simple moving average of $18.64. The firm has a market cap of $5.97 billion, a P/E ratio of 14.26, a P/E/G ratio of 3.24 and a beta of 1.74. The company has a quick ratio of 6.80, a current ratio of 6.89 and a debt-to-equity ratio of 0.01.
Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.19 by $0.12. Exelixis had a return on equity of 25.55% and a net margin of 64.05%. The business had revenue of $271.70 million during the quarter, compared to analyst estimates of $228.17 million. During the same period last year, the business posted $0.44 earnings per share. The company’s quarterly revenue was up 20.5% on a year-over-year basis.
A number of institutional investors have recently bought and sold shares of the business. Chicago Capital LLC raised its stake in Exelixis by 0.6% in the fourth quarter. Chicago Capital LLC now owns 806,113 shares of the biotechnology company’s stock valued at $14,204,000 after buying an additional 4,553 shares in the last quarter. Nomura Holdings Inc. raised its stake in Exelixis by 52.3% in the third quarter. Nomura Holdings Inc. now owns 49,500 shares of the biotechnology company’s stock valued at $880,000 after buying an additional 17,000 shares in the last quarter. Maverick Capital Ltd. acquired a new stake in Exelixis in the third quarter valued at $943,000. Man Group plc raised its stake in Exelixis by 169.8% in the third quarter. Man Group plc now owns 422,493 shares of the biotechnology company’s stock valued at $7,472,000 after buying an additional 265,894 shares in the last quarter. Finally, Squarepoint Ops LLC raised its stake in Exelixis by 174.7% in the third quarter. Squarepoint Ops LLC now owns 305,778 shares of the biotechnology company’s stock valued at $5,408,000 after buying an additional 194,446 shares in the last quarter. Institutional investors own 77.05% of the company’s stock.
In other Exelixis news, CEO Michael Morrissey sold 25,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $18.85, for a total value of $471,250.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alan M. Garber sold 86,956 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $18.01, for a total value of $1,566,077.56. Following the completion of the sale, the director now owns 91,329 shares in the company, valued at $1,644,835.29. The disclosure for this sale can be found here. Over the last quarter, insiders sold 286,956 shares of company stock valued at $5,040,078. 4.50% of the stock is currently owned by company insiders.
Exelixis, Inc, an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. The company's products include CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of patients with progressive and metastatic medullary thyroid cancer.
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