Exelixis, Inc. (NASDAQ:EXEL) – Analysts at Oppenheimer increased their FY2020 earnings per share (EPS) estimates for Exelixis in a research note issued on Monday, January 11th. Oppenheimer analyst J. Olson now forecasts that the biotechnology company will earn $0.36 per share for the year, up from their previous forecast of $0.20. Oppenheimer currently has a “Outperform” rating and a $37.00 target price on the stock. Oppenheimer also issued estimates for Exelixis’ Q4 2020 earnings at $0.09 EPS, FY2021 earnings at $0.31 EPS and FY2024 earnings at $2.86 EPS.
A number of other analysts have also weighed in on EXEL. Piper Sandler raised their target price on Exelixis from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday, September 21st. Morgan Stanley lowered their target price on Exelixis from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 16th. Stifel Nicolaus raised their target price on Exelixis from $26.00 to $27.00 and gave the company a “hold” rating in a research note on Monday, October 26th. BidaskClub upgraded Exelixis from a “sell” rating to a “hold” rating in a research note on Thursday, January 7th. Finally, TheStreet lowered Exelixis from a “b-” rating to a “c” rating in a research report on Wednesday, November 11th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Exelixis presently has an average rating of “Buy” and an average target price of $31.20.
Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Thursday, November 5th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.11). Exelixis had a return on equity of 8.55% and a net margin of 15.88%. The company had revenue of $231.10 million for the quarter, compared to analyst estimates of $215.40 million. During the same quarter in the prior year, the company earned $0.34 earnings per share. The business’s revenue was down 14.9% compared to the same quarter last year.
In other Exelixis news, EVP Jeffrey Hessekiel sold 39,742 shares of the firm’s stock in a transaction dated Wednesday, October 21st. The stock was sold at an average price of $21.95, for a total transaction of $872,336.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jack L. Wyszomierski sold 34,000 shares of the firm’s stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $20.61, for a total value of $700,740.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 243,746 shares of company stock valued at $4,934,601. Corporate insiders own 4.50% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of EXEL. Sei Investments Co. bought a new position in shares of Exelixis during the 2nd quarter valued at $3,275,000. Schonfeld Strategic Advisors LLC lifted its holdings in shares of Exelixis by 147.1% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 30,383 shares of the biotechnology company’s stock valued at $743,000 after acquiring an additional 18,088 shares during the last quarter. Commerce Bank bought a new position in shares of Exelixis in the 3rd quarter valued at about $1,669,000. Brinker Capital Investments LLC bought a new position in shares of Exelixis in the 3rd quarter valued at about $2,094,000. Finally, Weld Capital Management LLC bought a new position in shares of Exelixis in the 3rd quarter valued at about $605,000. Hedge funds and other institutional investors own 77.29% of the company’s stock.
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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