Exelixis, Inc. to Post Q3 2018 Earnings of $0.15 Per Share, William Blair Forecasts (EXEL)

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Exelixis, Inc. (NASDAQ:EXEL) – Investment analysts at William Blair dropped their Q3 2018 EPS estimates for Exelixis in a report released on Monday, October 15th, Zacks Investment Research reports. William Blair analyst A. Hsieh now expects that the biotechnology company will earn $0.15 per share for the quarter, down from their prior estimate of $0.17. William Blair also issued estimates for Exelixis’ Q4 2018 earnings at $0.14 EPS and FY2019 earnings at $0.85 EPS.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Thursday, November 1st. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.22. Exelixis had a return on equity of 55.71% and a net margin of 49.53%. The company had revenue of $225.40 million during the quarter, compared to analyst estimates of $174.14 million. During the same quarter in the previous year, the firm posted $0.26 EPS. The firm’s quarterly revenue was up 47.8% on a year-over-year basis.

A number of other research analysts have also issued reports on EXEL. Zacks Investment Research upgraded Exelixis from a “hold” rating to a “strong-buy” rating and set a $25.00 price target for the company in a research report on Tuesday, July 31st. Stifel Nicolaus reduced their price target on Exelixis from $29.00 to $25.00 and set a “hold” rating for the company in a research report on Wednesday, August 1st. BidaskClub lowered Exelixis from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 11th. Morgan Stanley assumed coverage on Exelixis in a research report on Monday, September 10th. They set an “underweight” rating and a $19.00 price target for the company. Finally, Goldman Sachs Group assumed coverage on Exelixis in a report on Monday, September 17th. They issued a “neutral” rating and a $22.00 price objective for the company. Three analysts have rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $29.44.

EXEL stock traded down $0.45 during trading on Wednesday, reaching $16.67. 4,233,603 shares of the company’s stock were exchanged, compared to its average volume of 4,612,580. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.54 and a current ratio of 8.66. Exelixis has a 1-year low of $13.42 and a 1-year high of $32.20. The firm has a market capitalization of $5.18 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 1.03 and a beta of 2.29.

In related news, insider Michael Morrissey sold 90,000 shares of the company’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $17.82, for a total transaction of $1,603,800.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Vincent T. Marchesi sold 40,000 shares of the company’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $19.50, for a total value of $780,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 321,500 shares of company stock valued at $5,646,160. 4.80% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC raised its position in Exelixis by 31.2% during the second quarter. Janney Montgomery Scott LLC now owns 17,220 shares of the biotechnology company’s stock valued at $371,000 after buying an additional 4,095 shares during the period. American Century Companies Inc. raised its position in Exelixis by 504.6% during the second quarter. American Century Companies Inc. now owns 2,034,270 shares of the biotechnology company’s stock valued at $43,777,000 after buying an additional 1,697,822 shares during the period. First Trust Advisors LP raised its position in Exelixis by 78.6% during the third quarter. First Trust Advisors LP now owns 4,643,726 shares of the biotechnology company’s stock valued at $82,287,000 after buying an additional 2,044,201 shares during the period. Retirement Systems of Alabama acquired a new position in Exelixis during the second quarter valued at $7,692,000. Finally, Schwab Charles Investment Management Inc. increased its position in Exelixis by 4.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,019,297 shares of the biotechnology company’s stock worth $21,936,000 after purchasing an additional 47,730 shares during the last quarter. 81.84% of the stock is currently owned by hedge funds and other institutional investors.

Exelixis Company Profile

Exelixis, Inc, a biotechnology company, engages in the discovery, development, and commercialization of new medicines to enhance care and outcomes for people with cancer. 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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