Zacks: Brokerages Expect Exelixis, Inc. (NASDAQ:EXEL) Will Post Earnings of $0.12 Per Share

Brokerages expect Exelixis, Inc. (NASDAQ:EXEL) to announce earnings per share of $0.12 for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Exelixis’ earnings, with the highest EPS estimate coming in at $0.18 and the lowest estimate coming in at $0.08. Exelixis reported earnings per share of $0.25 in the same quarter last year, which suggests a negative year-over-year growth rate of 52%. The business is scheduled to announce its next earnings report on Wednesday, July 29th.

On average, analysts expect that Exelixis will report full year earnings of $0.44 per share for the current year, with EPS estimates ranging from $0.34 to $0.63. For the next year, analysts expect that the business will post earnings of $0.79 per share, with EPS estimates ranging from $0.28 to $1.08. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover Exelixis.

Exelixis (NASDAQ:EXEL) last posted its earnings results on Tuesday, May 5th. The biotechnology company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.02. The company had revenue of $226.90 million for the quarter, compared to analyst estimates of $216.64 million. Exelixis had a net margin of 30.01% and a return on equity of 18.01%. Exelixis’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 EPS.

EXEL has been the topic of several recent analyst reports. Piper Sandler boosted their target price on shares of Exelixis from $23.00 to $30.00 in a report on Wednesday, May 6th. Morgan Stanley upped their price objective on shares of Exelixis from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. TheStreet upgraded shares of Exelixis from a “c+” rating to a “b-” rating in a report on Friday, April 24th. Oppenheimer started coverage on shares of Exelixis in a report on Monday, June 1st. They issued a “buy” rating and a $32.00 price objective on the stock. Finally, BidaskClub lowered shares of Exelixis from a “buy” rating to a “hold” rating in a report on Tuesday, June 9th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Exelixis has a consensus rating of “Buy” and an average target price of $28.69.

NASDAQ:EXEL traded down $0.17 on Wednesday, hitting $22.71. The stock had a trading volume of 26,875 shares, compared to its average volume of 2,599,571. The stock has a market cap of $7.03 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 1.37 and a beta of 1.50. The company has a fifty day moving average price of $24.18 and a two-hundred day moving average price of $20.29. Exelixis has a 1-year low of $13.67 and a 1-year high of $27.80.

In other Exelixis news, Director George A. Scangos sold 1,500 shares of the stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $18.06, for a total value of $27,090.00. Following the sale, the director now directly owns 961,531 shares of the company’s stock, valued at approximately $17,365,249.86. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Christopher J. Senner sold 21,417 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $25.80, for a total transaction of $552,558.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 655,932 shares of company stock worth $15,621,066. 4.50% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the business. Total Clarity Wealth Management Inc. purchased a new stake in shares of Exelixis in the 4th quarter valued at approximately $27,000. BDO Wealth Advisors LLC purchased a new position in shares of Exelixis in the 1st quarter valued at $30,000. NWK Group Inc. purchased a new position in shares of Exelixis in the 4th quarter valued at $41,000. WASHINGTON TRUST Co purchased a new position in shares of Exelixis in the 1st quarter valued at $48,000. Finally, Chevy Chase Trust Holdings Inc. purchased a new position in shares of Exelixis in the 4th quarter valued at $53,000. 79.99% of the stock is currently owned by institutional investors.

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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