Analysts Expect Exelixis, Inc. (NASDAQ:EXEL) Will Post Quarterly Sales of $240.67 Million

Equities research analysts expect Exelixis, Inc. (NASDAQ:EXEL) to report sales of $240.67 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Exelixis’ earnings, with the highest sales estimate coming in at $245.00 million and the lowest estimate coming in at $237.44 million. Exelixis reported sales of $228.60 million during the same quarter last year, which would suggest a positive year over year growth rate of 5.3%. The business is expected to issue its next quarterly earnings results after the market closes on Tuesday, February 25th.

On average, analysts expect that Exelixis will report full-year sales of $967.77 million for the current fiscal year, with estimates ranging from $962.37 million to $972.47 million. For the next fiscal year, analysts anticipate that the firm will report sales of $881.19 million, with estimates ranging from $853.60 million to $908.34 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Exelixis.

EXEL has been the subject of a number of recent research reports. TheStreet cut Exelixis from a “b-” rating to a “c” rating in a research report on Friday, November 22nd. Piper Sandler reiterated a “buy” rating and set a $35.00 price objective on shares of Exelixis in a research report on Tuesday. Piper Jaffray Companies dropped their price objective on Exelixis from $45.00 to $35.00 in a research report on Thursday, October 31st. ValuEngine upgraded Exelixis from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. Finally, BidaskClub upgraded Exelixis from a “sell” rating to a “hold” rating in a research report on Friday, February 7th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Exelixis currently has an average rating of “Buy” and a consensus price target of $26.09.

Exelixis stock traded up $0.52 during midday trading on Friday, reaching $20.77. 3,990,132 shares of the company were exchanged, compared to its average volume of 3,595,282. The company has a market capitalization of $6.15 billion, a price-to-earnings ratio of 10.65, a P/E/G ratio of 3.43 and a beta of 1.93. The firm’s 50-day simple moving average is $18.54 and its 200-day simple moving average is $18.28. Exelixis has a 1 year low of $15.02 and a 1 year high of $25.31. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.80 and a current ratio of 6.89.

In other Exelixis news, Director George A. Scangos sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $20.14, for a total value of $80,560.00. Following the sale, the director now directly owns 1,034,031 shares of the company’s stock, valued at approximately $20,825,384.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alan M. Garber sold 86,956 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $18.01, for a total value of $1,566,077.56. Following the completion of the sale, the director now directly owns 91,329 shares in the company, valued at $1,644,835.29. The disclosure for this sale can be found here. Over the last three months, insiders sold 427,639 shares of company stock worth $7,914,164. 4.50% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its stake in shares of Exelixis by 4.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 12,332 shares of the biotechnology company’s stock valued at $217,000 after purchasing an additional 576 shares in the last quarter. GWM Advisors LLC lifted its stake in shares of Exelixis by 3.2% in the 4th quarter. GWM Advisors LLC now owns 18,780 shares of the biotechnology company’s stock valued at $330,000 after purchasing an additional 589 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in shares of Exelixis by 1.1% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 56,190 shares of the biotechnology company’s stock valued at $990,000 after purchasing an additional 620 shares in the last quarter. Virtus ETF Advisers LLC lifted its stake in shares of Exelixis by 1.8% in the 4th quarter. Virtus ETF Advisers LLC now owns 35,810 shares of the biotechnology company’s stock valued at $631,000 after purchasing an additional 632 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in shares of Exelixis by 1.0% in the 4th quarter. Louisiana State Employees Retirement System now owns 73,500 shares of the biotechnology company’s stock valued at $1,295,000 after purchasing an additional 700 shares in the last quarter. 77.01% of the stock is currently owned by institutional investors and hedge funds.

About Exelixis

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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