Exelixis (NASDAQ:EXEL) Announces Earnings Results

Exelixis (NASDAQ:EXEL) announced its quarterly earnings results on Tuesday. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03), Zacks reports. Exelixis had a return on equity of 20.99% and a net margin of 22.43%.

Exelixis Price Performance

NASDAQ EXEL traded down $0.69 on Tuesday, hitting $32.81. 2,179,947 shares of the company’s stock were exchanged, compared to its average volume of 2,496,625. The firm’s 50-day moving average price is $34.35 and its two-hundred day moving average price is $30.64. Exelixis has a fifty-two week low of $20.01 and a fifty-two week high of $37.59. The firm has a market cap of $9.37 billion, a price-to-earnings ratio of 21.03, a P/E/G ratio of 0.63 and a beta of 0.53.

Insiders Place Their Bets

In other news, EVP Patrick J. Haley sold 41,588 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.36, for a total transaction of $1,428,963.68. Following the sale, the executive vice president now owns 288,665 shares of the company’s stock, valued at $9,918,529.40. The trade was a 12.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $36.67, for a total value of $2,200,200.00. Following the sale, the executive vice president now directly owns 486,059 shares in the company, valued at $17,823,783.53. This trade represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,588 shares of company stock worth $3,981,864. Company insiders own 2.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. Stephens reaffirmed an “equal weight” rating and set a $29.00 price target on shares of Exelixis in a report on Monday, January 27th. Wells Fargo & Company lifted their price target on Exelixis from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. BMO Capital Markets cut Exelixis from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $36.00 to $40.00 in a research report on Friday, December 20th. Finally, HC Wainwright reiterated a “buy” rating and set a $40.00 target price on shares of Exelixis in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Exelixis presently has an average rating of “Moderate Buy” and a consensus price target of $36.06.

Exelixis Company Profile

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers 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 progressive and metastatic medullary thyroid cancer.