Zacks: Brokerages Anticipate Exelixis (EXEL) Will Post Earnings of $0.12 Per Share

Wall Street brokerages expect Exelixis (NASDAQ:EXEL) to announce earnings per share of $0.12 for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Exelixis’ earnings, with the highest EPS estimate coming in at $0.20 and the lowest estimate coming in at $0.05. Exelixis posted earnings of $0.05 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 140%. The firm is scheduled to issue its next earnings report on Monday, May 7th.

On average, analysts expect that Exelixis will report full-year earnings of $0.54 per share for the current fiscal year, with EPS estimates ranging from $0.37 to $0.93. For the next financial year, analysts anticipate that the business will post earnings of $1.27 per share, with EPS estimates ranging from $0.70 to $2.28. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Exelixis.

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Exelixis (NASDAQ:EXEL) last released its earnings results on Monday, February 26th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.12. Exelixis had a net margin of 34.08% and a return on equity of 81.05%. The business had revenue of $120.10 million during the quarter, compared to analyst estimates of $120.25 million. During the same quarter in the prior year, the firm earned $0.12 earnings per share. The company’s revenue for the quarter was up 54.8% compared to the same quarter last year.

A number of brokerages recently issued reports on EXEL. BidaskClub lowered shares of Exelixis from a “sell” rating to a “strong sell” rating in a report on Wednesday. Cann reissued a “buy” rating and issued a $40.00 price objective on shares of Exelixis in a report on Tuesday, March 20th. Zacks Investment Research lowered shares of Exelixis from a “hold” rating to a “sell” rating in a report on Tuesday, March 13th. ValuEngine lowered shares of Exelixis from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Finally, Oppenheimer reissued a “hold” rating on shares of Exelixis in a report on Wednesday, January 17th. Two analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $34.10.

Shares of EXEL opened at $21.09 on Friday. Exelixis has a 12-month low of $18.03 and a 12-month high of $32.50. The stock has a market capitalization of $6,610.62, a P/E ratio of 41.35 and a beta of 2.10.

In other Exelixis news, Director Alan M. Garber sold 15,000 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $30.30, for a total value of $454,500.00. Following the transaction, the director now owns 64,829 shares of the company’s stock, valued at $1,964,318.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Patrick J. Haley sold 45,029 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $27.13, for a total transaction of $1,221,636.77. The disclosure for this sale can be found here. Insiders sold 120,029 shares of company stock worth $3,158,287 in the last ninety days. 5.10% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sigma Planning Corp acquired a new stake in shares of Exelixis during the fourth quarter worth about $208,000. American International Group Inc. acquired a new stake in shares of Exelixis during the fourth quarter worth about $208,000. Klingenstein Fields & Co. LLC acquired a new stake in shares of Exelixis during the fourth quarter worth about $213,000. Globeflex Capital L P acquired a new stake in shares of Exelixis during the fourth quarter worth about $246,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Exelixis during the third quarter worth about $236,000. 80.50% of the stock is currently owned by institutional investors.

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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.

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Earnings History and Estimates for Exelixis (NASDAQ:EXEL)

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