Exelixis (NASDAQ:EXEL) Releases Earnings Results, Beats Expectations By $0.05 EPS

Exelixis (NASDAQ:EXEL) issued its quarterly earnings results on Thursday. The biotechnology company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.05, FiscalAI reports. The company had revenue of $658.70 million during the quarter, compared to analyst estimates of $646.51 million. Exelixis had a net margin of 35.33% and a return on equity of 42.17%.

Exelixis Price Performance

EXEL stock traded down $0.08 during trading on Thursday, hitting $66.20. 2,836,327 shares of the stock traded hands, compared to its average volume of 2,572,414. The stock has a market cap of $16.40 billion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 1.81 and a beta of 0.47. Exelixis has a 1 year low of $36.00 and a 1 year high of $67.52. The firm’s 50 day moving average is $58.84 and its two-hundred day moving average is $50.68.

Insider Transactions at Exelixis

In other news, Director Mary Beckerle sold 9,812 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $53.66, for a total value of $526,511.92. Following the transaction, the director owned 16,079 shares in the company, valued at approximately $862,799.14. This represents a 37.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. BMO Capital Markets initiated coverage on shares of Exelixis in a research note on Tuesday, August 18th. They set a “market perform” rating and a $54.00 price objective on the stock. Stifel Nicolaus raised their target price on shares of Exelixis from $47.00 to $51.00 and gave the company a “hold” rating in a research note on Thursday, August 6th. HC Wainwright reiterated a “buy” rating and set a $56.00 target price on shares of Exelixis in a report on Thursday, July 2nd. Royal Bank Of Canada raised their price objective on Exelixis from $45.00 to $51.00 and gave the company a “sector perform” rating in a research report on Friday, October 9th. Finally, Citigroup reiterated a “market outperform” rating on shares of Exelixis in a research note on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $51.50.

Exelixis Company Profile

Exelixis, Inc is a biopharmaceutical company focused on discovering, developing, and commercializing medicines for cancer and other serious diseases. The company’s research programs center primarily on targeted therapies, including treatments designed to inhibit signaling pathways involved in tumor growth and progression.

Exelixis’ lead product is CABOMETYX (cabozantinib), an oral medicine approved in the United States for certain patients with renal cell carcinoma, hepatocellular carcinoma, and differentiated thyroid cancer.