$353.15 Million in Sales Expected for Exelixis, Inc. (NASDAQ:EXEL) This Quarter

Equities analysts expect that Exelixis, Inc. (NASDAQ:EXEL) will report $353.15 million in sales for the current quarter, Zacks reports. Seven analysts have issued estimates for Exelixis’ earnings, with the lowest sales estimate coming in at $319.57 million and the highest estimate coming in at $394.10 million. Exelixis posted sales of $270.05 million in the same quarter last year, which suggests a positive year-over-year growth rate of 30.8%. The company is expected to announce its next quarterly earnings report on Wednesday, February 9th.

On average, analysts expect that Exelixis will report full year sales of $1.33 billion for the current fiscal year, with estimates ranging from $1.30 billion to $1.37 billion. For the next financial year, analysts expect that the company will report sales of $1.66 billion, with estimates ranging from $1.44 billion to $2.01 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Exelixis.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, November 2nd. The biotechnology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.07). Exelixis had a return on equity of 8.27% and a net margin of 13.10%. During the same period last year, the business earned ($0.10) EPS.

A number of equities analysts have issued reports on EXEL shares. Jefferies Financial Group started coverage on Exelixis in a research report on Wednesday, October 6th. They set a “buy” rating and a $28.00 price target on the stock. Piper Sandler started coverage on Exelixis in a research report on Friday, November 19th. They set an “overweight” rating and a $34.00 price target on the stock. Royal Bank of Canada lowered their price target on Exelixis from $32.00 to $31.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 3rd. Oppenheimer lowered their price target on Exelixis from $30.00 to $29.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 2nd. Finally, Zacks Investment Research downgraded Exelixis from a “buy” rating to a “sell” rating and set a $23.00 price target on the stock. in a research report on Monday, November 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $32.18.

Exelixis stock traded up $0.08 during midday trading on Thursday, hitting $17.48. 1,432,488 shares of the company were exchanged, compared to its average volume of 2,051,408. The firm has a market capitalization of $5.53 billion, a PE ratio of 34.28, a price-to-earnings-growth ratio of 0.84 and a beta of 0.94. The business has a fifty day simple moving average of $20.15 and a two-hundred day simple moving average of $20.11. Exelixis has a fifty-two week low of $16.19 and a fifty-two week high of $25.77.

In other Exelixis news, EVP Peter Lamb sold 47,500 shares of the stock in a transaction on Monday, November 15th. The stock was sold at an average price of $18.09, for a total transaction of $859,275.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Carl B. Feldbaum sold 20,000 shares of the stock in a transaction on Friday, November 19th. The stock was sold at an average price of $17.62, for a total value of $352,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 145,117 shares of company stock worth $2,874,603. 3.30% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Baillie Gifford & Co. acquired a new stake in shares of Exelixis during the 3rd quarter worth $25,000. Total Clarity Wealth Management Inc. acquired a new stake in shares of Exelixis during the 3rd quarter worth $26,000. Huntington National Bank increased its holdings in shares of Exelixis by 156.4% during the 3rd quarter. Huntington National Bank now owns 1,433 shares of the biotechnology company’s stock worth $30,000 after buying an additional 874 shares during the last quarter. MUFG Americas Holdings Corp acquired a new stake in shares of Exelixis during the 3rd quarter worth $30,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Exelixis during the 2nd quarter worth $43,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

Exelixis Company Profile

Exelixis, Inc is a biopharmaceutical company, which engages in the development, commercialization, and discovery of new medicines for the treatment of cancer. It offers products under the brands of COMETRIQ, CABOMETYX, COTELLIC, and MINNEBRO. The company was founded by Corey S. Goodman and Stelios B.

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Earnings History and Estimates for Exelixis (NASDAQ:EXEL)

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