Brokerages Expect Exelixis, Inc. (NASDAQ:EXEL) Will Post Quarterly Sales of $390.17 Million

Wall Street analysts forecast that Exelixis, Inc. (NASDAQ:EXELGet Rating) will post sales of $390.17 million for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Exelixis’ earnings, with the lowest sales estimate coming in at $367.70 million and the highest estimate coming in at $402.57 million. Exelixis posted sales of $385.18 million during the same quarter last year, which suggests a positive year over year growth rate of 1.3%. The business is expected to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Exelixis will report full year sales of $1.61 billion for the current financial year, with estimates ranging from $1.50 billion to $1.76 billion. For the next financial year, analysts anticipate that the business will report sales of $1.90 billion, with estimates ranging from $1.81 billion to $2.01 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Exelixis.

Exelixis (NASDAQ:EXELGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The biotechnology company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.07. Exelixis had a return on equity of 13.77% and a net margin of 19.60%. The firm had revenue of $356.00 million for the quarter, compared to analyst estimates of $363.22 million. The firm’s quarterly revenue was up 31.7% compared to the same quarter last year.

EXEL has been the topic of several recent analyst reports. Piper Sandler decreased their price objective on shares of Exelixis from $34.00 to $30.00 in a report on Monday, March 14th. TheStreet raised shares of Exelixis from a “c” rating to a “b-” rating in a research report on Monday, February 28th. Jefferies Financial Group began coverage on shares of Exelixis in a research report on Thursday, May 12th. They issued a “buy” rating and a $28.00 target price on the stock. HC Wainwright dropped their target price on shares of Exelixis from $52.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, February 18th. Finally, StockNews.com downgraded shares of Exelixis from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 18th. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to MarketBeat.com, Exelixis has an average rating of “Buy” and an average price target of $31.13.

In other Exelixis news, Director Alan M. Garber sold 21,301 shares of Exelixis stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $21.00, for a total transaction of $447,321.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey Hessekiel sold 4,717 shares of Exelixis stock in a transaction dated Monday, March 28th. The stock was sold at an average price of $22.00, for a total transaction of $103,774.00. The disclosure for this sale can be found here. Insiders sold 82,714 shares of company stock valued at $1,715,403 in the last quarter. Company insiders own 2.90% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC lifted its position in Exelixis by 9.8% during the first quarter. CWM LLC now owns 5,137 shares of the biotechnology company’s stock valued at $116,000 after buying an additional 460 shares in the last quarter. Quadrant Capital Group LLC grew its position in shares of Exelixis by 72.4% during the first quarter. Quadrant Capital Group LLC now owns 1,241 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 521 shares during the last quarter. Arizona State Retirement System grew its position in shares of Exelixis by 0.7% during the third quarter. Arizona State Retirement System now owns 85,364 shares of the biotechnology company’s stock worth $1,805,000 after acquiring an additional 557 shares during the last quarter. Total Clarity Wealth Management Inc. grew its position in Exelixis by 64.8% in the 4th quarter. Total Clarity Wealth Management Inc. now owns 2,035 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 800 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its position in Exelixis by 2.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 31,310 shares of the biotechnology company’s stock valued at $709,000 after buying an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 82.74% of the company’s stock.

Shares of NASDAQ:EXEL traded up $0.21 during midday trading on Friday, reaching $18.40. 2,026,362 shares of the company’s stock were exchanged, compared to its average volume of 2,431,169. The firm’s 50 day simple moving average is $21.42 and its two-hundred day simple moving average is $19.57. Exelixis has a fifty-two week low of $15.50 and a fifty-two week high of $23.52. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of 20.00, a P/E/G ratio of 0.53 and a beta of 0.74.

Exelixis Company Profile (Get Rating)

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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