Exelixis, Inc. (NASDAQ:EXEL) – Investment analysts at Oppenheimer issued their Q3 2020 earnings estimates for Exelixis in a research note issued on Tuesday, October 20th. Oppenheimer analyst J. Olson anticipates that the biotechnology company will post earnings per share of ($0.16) for the quarter. Oppenheimer has a “Outperform” rating and a $37.00 price target on the stock. Oppenheimer also issued estimates for Exelixis’ Q4 2020 earnings at ($0.02) EPS, FY2020 earnings at $0.19 EPS, FY2022 earnings at $1.11 EPS, FY2023 earnings at $1.85 EPS and FY2024 earnings at $2.72 EPS.
Exelixis (NASDAQ:EXEL) last issued its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.09. The business had revenue of $259.50 million for the quarter, compared to the consensus estimate of $226.40 million. Exelixis had a return on equity of 16.40% and a net margin of 28.21%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.29 earnings per share.
A number of other equities research analysts have also weighed in on the stock. William Blair reissued a “buy” rating on shares of Exelixis in a report on Friday, August 14th. SunTrust Banks reaffirmed a “buy” rating and issued a $40.00 price target on shares of Exelixis in a report on Wednesday, July 8th. Piper Sandler upped their price target on shares of Exelixis from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Monday, September 21st. BidaskClub lowered shares of Exelixis from a “hold” rating to a “sell” rating in a report on Wednesday, October 7th. Finally, Morgan Stanley upped their price target on shares of Exelixis from $23.00 to $29.00 and gave the company an “equal weight” rating in a report on Tuesday, September 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $29.92.
Shares of EXEL opened at $22.29 on Friday. The firm has a market capitalization of $6.89 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 1.32 and a beta of 1.33. Exelixis has a 1-year low of $13.67 and a 1-year high of $27.80. The company’s fifty day moving average price is $23.47 and its 200-day moving average price is $23.18.
Several hedge funds have recently bought and sold shares of EXEL. Amundi Pioneer Asset Management Inc. raised its holdings in shares of Exelixis by 182.1% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 176,193 shares of the biotechnology company’s stock valued at $4,193,000 after buying an additional 113,733 shares during the period. Public Employees Retirement Association of Colorado raised its holdings in shares of Exelixis by 6.6% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 45,867 shares of the biotechnology company’s stock valued at $790,000 after buying an additional 2,853 shares during the period. Invesco Ltd. raised its holdings in shares of Exelixis by 56.7% in the 1st quarter. Invesco Ltd. now owns 936,146 shares of the biotechnology company’s stock valued at $16,120,000 after buying an additional 338,785 shares during the period. Engineers Gate Manager LP increased its holdings in Exelixis by 86.0% during the 1st quarter. Engineers Gate Manager LP now owns 43,083 shares of the biotechnology company’s stock worth $742,000 after purchasing an additional 19,923 shares during the period. Finally, Advisor Group Holdings Inc. purchased a new stake in Exelixis during the 1st quarter worth about $1,741,000. Hedge funds and other institutional investors own 81.62% of the company’s stock.
In other news, CFO Christopher J. Senner sold 10,000 shares of Exelixis stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of $25.00, for a total value of $250,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Jeffrey Hessekiel sold 39,742 shares of Exelixis stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $21.95, for a total value of $872,336.90. The disclosure for this sale can be found here. Insiders sold 74,422 shares of company stock valued at $1,744,438 over the last 90 days. Company insiders own 4.50% 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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