Exelixis Inc. (NASDAQ:EXEL) – Research analysts at Leerink Swann decreased their Q3 2016 earnings estimates for Exelixis in a research note issued on Tuesday. Leerink Swann analyst M. Schmidt now forecasts that the brokerage will earn ($0.12) per share for the quarter, down from their previous forecast of ($0.11). Leerink Swann currently has a “Positive” rating and a $15.00 target price on the stock. Leerink Swann also issued estimates for Exelixis’ Q4 2016 earnings at ($0.05) EPS and FY2016 earnings at ($0.59) EPS.
Exelixis (NASDAQ:EXEL) last released its quarterly earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.11. The firm had revenue of $36.25 million for the quarter, compared to the consensus estimate of $16.76 million. The business’s revenue for the quarter was up 353.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.22) earnings per share.
A number of other analysts have also recently issued reports on the company. S&P Equity Research increased their price objective on Exelixis from $13.41 to $15.57 in a report on Wednesday, September 28th. Zacks Investment Research raised Exelixis from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Tuesday, September 13th. Stifel Nicolaus increased their price objective on Exelixis from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. Piper Jaffray Cos. reissued a “neutral” rating and set a $8.00 price objective (up previously from $5.00) on shares of Exelixis in a report on Thursday, August 4th. Finally, Cowen and Company reissued a “buy” rating on shares of Exelixis in a report on Wednesday, August 10th. Six equities research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average price target of $13.51.
Shares of Exelixis (NASDAQ:EXEL) opened at 11.32 on Thursday. The company’s market capitalization is $2.61 billion. Exelixis has a one year low of $3.55 and a one year high of $15.58. The company has a 50-day moving average price of $12.75 and a 200 day moving average price of $8.49.
In related news, insider Gisela Schwab sold 42,338 shares of the firm’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $11.00, for a total transaction of $465,718.00. Following the transaction, the insider now directly owns 174,354 shares of the company’s stock, valued at approximately $1,917,894. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 5.90% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in EXEL. Vanguard Group Inc. boosted its position in shares of Exelixis by 2.3% in the second quarter. Vanguard Group Inc. now owns 16,457,824 shares of the biotechnology company’s stock worth $128,536,000 after buying an additional 375,754 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Exelixis by 0.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,357,463 shares of the biotechnology company’s stock worth $41,842,000 after buying an additional 28,145 shares in the last quarter. Farallon Capital Management LLC purchased a new position in shares of Exelixis during the second quarter worth $38,386,000. Janus Capital Management LLC purchased a new position in shares of Exelixis during the second quarter worth $25,702,000. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Exelixis during the second quarter worth $22,690,000. 81.80% of the stock is currently owned by institutional investors.
Exelixis, Inc is a biopharmaceutical company. The Company is engaged in developing small molecule therapies for the treatment of cancer. It focuses on the development and commercialization of cabozantinib, an inhibitor of multiple receptor tyrosine kinases, in various tumor indications. Cabozantinib is indicated for the treatment of progressive, metastatic medullary thyroid cancer, and is sold under the brand name COMETRIQ.
Receive News & Ratings for Exelixis Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exelixis Inc. and related companies with MarketBeat.com's FREE daily email newsletter.