Exelixis, Inc. (EXEL) Forecasted to Earn Q3 2017 Earnings of $0.07 Per Share

Exelixis, Inc. (NASDAQ:EXEL) – Oppenheimer Holdings issued their Q3 2017 earnings estimates for shares of Exelixis in a report released on Thursday. Oppenheimer Holdings analyst L. Cann anticipates that the biotechnology company will post earnings of $0.07 per share for the quarter. Oppenheimer Holdings has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Exelixis’ Q4 2017 earnings at $0.05 EPS and FY2017 earnings at $0.23 EPS.

Other analysts also recently issued reports about the stock. Piper Jaffray Companies reaffirmed a “buy” rating and set a $29.00 price objective on shares of Exelixis in a report on Thursday, August 3rd. Cann reaffirmed a “hold” rating on shares of Exelixis in a report on Wednesday, April 19th. Zacks Investment Research downgraded shares of Exelixis from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 28th. Deutsche Bank AG downgraded shares of Exelixis from a “buy” rating to a “hold” rating and upped their price objective for the stock from $26.00 to $29.00 in a report on Thursday, August 3rd. Finally, SunTrust Banks, Inc. assumed coverage on shares of Exelixis in a report on Thursday, July 13th. They set a “buy” rating and a $33.00 price objective for the company. Five 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. The company currently has an average rating of “Buy” and a consensus price target of $25.57.

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Exelixis (NASDAQ:EXEL) opened at 27.20 on Monday. Exelixis has a one year low of $10.04 and a one year high of $28.45. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of 141.67 and a beta of 1.89. The firm has a 50-day moving average of $25.47 and a 200-day moving average of $21.97.

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

Several institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in Exelixis by 7.3% in the first quarter. Bank of New York Mellon Corp now owns 1,264,985 shares of the biotechnology company’s stock worth $27,412,000 after buying an additional 86,522 shares during the last quarter. Capital Fund Management S.A. increased its position in Exelixis by 315.6% in the first quarter. Capital Fund Management S.A. now owns 488,305 shares of the biotechnology company’s stock worth $10,582,000 after buying an additional 370,819 shares during the last quarter. C WorldWide Group Holding A S increased its position in Exelixis by 19.7% in the first quarter. C WorldWide Group Holding A S now owns 555,458 shares of the biotechnology company’s stock worth $12,037,000 after buying an additional 91,230 shares during the last quarter. Klingenstein Fields & Co. LLC acquired a new position in Exelixis during the first quarter worth approximately $217,000. Finally, Great West Life Assurance Co. Can increased its position in Exelixis by 26.9% in the first quarter. Great West Life Assurance Co. Can now owns 28,342 shares of the biotechnology company’s stock worth $613,000 after buying an additional 6,000 shares during the last quarter. 80.19% of the stock is owned by institutional investors.

In other news, Director Carl B. Feldbaum sold 32,988 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $21.58, for a total transaction of $711,881.04. Following the completion of the transaction, the director now directly owns 52,721 shares of the company’s stock, valued at approximately $1,137,719.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Patrick J. Haley sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $18.46, for a total transaction of $92,300.00. The disclosure for this sale can be found here. 5.10% of the stock is currently owned by company insiders.

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)

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