Exelixis, Inc. (NASDAQ:EXEL) Expected to Post Quarterly Sales of $268.93 Million

Wall Street brokerages predict that Exelixis, Inc. (NASDAQ:EXEL) will post sales of $268.93 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Exelixis’ earnings, with the lowest sales estimate coming in at $255.02 million and the highest estimate coming in at $304.36 million. Exelixis reported sales of $226.92 million in the same quarter last year, which indicates a positive year over year growth rate of 18.5%. The firm is scheduled to announce its next earnings results on Tuesday, May 4th.

On average, analysts expect that Exelixis will report full year sales of $1.23 billion for the current year, with estimates ranging from $1.15 billion to $1.35 billion. For the next financial year, analysts anticipate that the business will post sales of $1.65 billion, with estimates ranging from $1.48 billion to $1.82 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Exelixis.

Exelixis (NASDAQ:EXEL) last issued its earnings results on Tuesday, February 9th. The biotechnology company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.04. The business had revenue of $270.10 million during the quarter, compared to analyst estimates of $261.44 million. Exelixis had a return on equity of 8.55% and a net margin of 15.88%. Exelixis’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 earnings per share.

Several brokerages have issued reports on EXEL. Credit Suisse Group began coverage on Exelixis in a research note on Tuesday, March 30th. They issued an “outperform” rating and a $30.00 target price for the company. William Blair reissued a “buy” rating on shares of Exelixis in a research note on Friday, January 15th. Piper Sandler increased their price objective on Exelixis from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday, February 16th. TheStreet raised Exelixis from a “c” rating to a “b-” rating in a research note on Wednesday, February 10th. Finally, Wolfe Research began coverage on Exelixis in a research note on Wednesday, March 17th. They set an “outperform” rating and a $35.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Exelixis presently has a consensus rating of “Buy” and an average price target of $31.67.

In other Exelixis news, Director Alan M. Garber sold 40,000 shares of the stock in a transaction on Monday, March 15th. The stock was sold at an average price of $23.60, for a total value of $944,000.00. Following the completion of the transaction, the director now owns 52,718 shares in the company, valued at $1,244,144.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Christopher J. Senner sold 30,000 shares of the stock in a transaction on Tuesday, January 12th. The stock was sold at an average price of $25.00, for a total value of $750,000.00. The disclosure for this sale can be found here. Insiders sold 495,317 shares of company stock valued at $11,214,343 in the last ninety days. 4.50% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Tealwood Asset Management Inc. raised its holdings in Exelixis by 73.1% in the fourth quarter. Tealwood Asset Management Inc. now owns 67,835 shares of the biotechnology company’s stock worth $1,361,000 after purchasing an additional 28,652 shares in the last quarter. Hudson Bay Capital Management LP raised its holdings in Exelixis by 50.0% in the fourth quarter. Hudson Bay Capital Management LP now owns 90,000 shares of the biotechnology company’s stock worth $1,806,000 after purchasing an additional 30,000 shares in the last quarter. Norges Bank bought a new position in Exelixis in the fourth quarter worth $60,911,000. UBS Asset Management Americas Inc. increased its holdings in shares of Exelixis by 36.9% during the fourth quarter. UBS Asset Management Americas Inc. now owns 523,947 shares of the biotechnology company’s stock valued at $10,516,000 after acquiring an additional 141,090 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Exelixis during the fourth quarter valued at $347,000. Institutional investors and hedge funds own 81.37% of the company’s stock.

EXEL traded up $0.46 during midday trading on Monday, hitting $23.88. The stock had a trading volume of 13,398 shares, compared to its average volume of 2,232,530. The company has a market cap of $7.45 billion, a P/E ratio of 48.79, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. The business has a fifty day moving average of $22.58 and a 200 day moving average of $21.91. Exelixis has a 1 year low of $17.54 and a 1 year high of $27.80.

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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