Exelixis, Inc. (NASDAQ:EXEL) Expected to Announce Earnings of $0.25 Per Share

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Wall Street brokerages expect that Exelixis, Inc. (NASDAQ:EXEL) will post earnings of $0.25 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Exelixis’ earnings. The lowest EPS estimate is $0.19 and the highest is $0.30. Exelixis reported earnings per share of $0.28 in the same quarter last year, which would suggest a negative year-over-year growth rate of 10.7%. The company is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, July 31st.

According to Zacks, analysts expect that Exelixis will report full-year earnings of $0.93 per share for the current fiscal year, with EPS estimates ranging from $0.77 to $1.05. For the next financial year, analysts anticipate that the company will report earnings of $1.02 per share, with EPS estimates ranging from $0.63 to $1.20. Zacks’ EPS calculations are an average based on a survey of research firms that cover Exelixis.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.24 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.24. The company had revenue of $215.49 million during the quarter, compared to analysts’ expectations of $206.06 million. Exelixis had a return on equity of 37.21% and a net margin of 75.97%. The business’s revenue was up .8% on a year-over-year basis. During the same period last year, the business earned $0.40 earnings per share.

A number of research analysts have issued reports on the company. BidaskClub cut Westport Fuel Systems from a “buy” rating to a “hold” rating in a report on Friday. Cowen reissued a “buy” rating on shares of Avrobio in a report on Monday, July 15th. ValuEngine cut Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Zacks Investment Research cut Great Portland Estates from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Finally, Morgan Stanley lifted their price objective on Zynga and gave the company an “overweight” rating in a report on Thursday, May 2nd. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $28.38.

In related news, CEO Michael Morrissey sold 34,721 shares of Exelixis stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $21.37, for a total value of $741,987.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter Lamb sold 27,596 shares of Exelixis stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $20.03, for a total value of $552,747.88. The disclosure for this sale can be found here. Insiders sold 605,703 shares of company stock valued at $12,454,139 over the last ninety days. 4.50% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. acquired a new position in Exelixis during the 2nd quarter worth approximately $28,000. Machina Capital S.A.S. boosted its position in Exelixis by 2,195.0% during the 2nd quarter. Machina Capital S.A.S. now owns 13,770 shares of the biotechnology company’s stock worth $294,000 after acquiring an additional 13,170 shares during the last quarter. New York State Teachers Retirement System boosted its position in Exelixis by 1.2% during the 2nd quarter. New York State Teachers Retirement System now owns 299,389 shares of the biotechnology company’s stock worth $6,398,000 after acquiring an additional 3,600 shares during the last quarter. Cornerstone Advisors Inc. boosted its position in Exelixis by 28.4% during the 2nd quarter. Cornerstone Advisors Inc. now owns 3,099 shares of the biotechnology company’s stock worth $66,000 after acquiring an additional 686 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in Exelixis by 2.1% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 121,602 shares of the biotechnology company’s stock worth $2,599,000 after acquiring an additional 2,485 shares during the last quarter. 78.22% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ EXEL traded up $0.30 during midday trading on Wednesday, reaching $21.58. 781,260 shares of the company traded hands, compared to its average volume of 2,090,939. The firm has a market capitalization of $6.48 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 0.48 and a beta of 1.93. The business’s 50-day moving average price is $20.76. Exelixis has a 12 month low of $13.42 and a 12 month high of $25.31. The company has a current ratio of 7.56, a quick ratio of 7.48 and a debt-to-equity ratio of 0.01.

Exelixis Company Profile

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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Earnings History and Estimates for Exelixis (NASDAQ:EXEL)

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