Piper Jaffray Companies Weighs in on Exelixis, Inc.’s Q2 2019 Earnings (EXEL)

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Exelixis, Inc. (NASDAQ:EXEL) – Research analysts at Piper Jaffray Companies raised their Q2 2019 EPS estimates for Exelixis in a report released on Sunday, November 4th. Piper Jaffray Companies analyst E. Tenthoff now expects that the biotechnology company will post earnings per share of $0.29 for the quarter, up from their previous forecast of $0.22. Piper Jaffray Companies has a “Overweight” rating and a $26.00 price target on the stock. Piper Jaffray Companies also issued estimates for Exelixis’ Q3 2019 earnings at $0.36 EPS, Q4 2019 earnings at $0.41 EPS and FY2020 earnings at $1.65 EPS.

Other equities research analysts have also recently issued reports about the company. Oppenheimer set a $40.00 target price on Exelixis and gave the company a “buy” rating in a research note on Thursday, November 1st. Guggenheim started coverage on Exelixis in a research note on Monday, September 17th. They issued a “buy” rating for the company. Stifel Nicolaus lowered their target price on Exelixis from $29.00 to $25.00 and set a “hold” rating for the company in a research note on Wednesday, August 1st. Goldman Sachs Group started coverage on Exelixis in a research note on Monday, September 17th. They issued a “neutral” rating and a $22.00 target price for the company. Finally, BidaskClub raised Exelixis from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 30th. Three analysts have rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $29.44.

Shares of EXEL opened at $17.81 on Tuesday. The company has a quick ratio of 8.54, a current ratio of 8.66 and a debt-to-equity ratio of 0.01. Exelixis has a 52-week low of $13.42 and a 52-week high of $32.20. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 34.92 and a beta of 2.29.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Thursday, November 1st. The biotechnology company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $225.40 million during the quarter, compared to the consensus estimate of $174.14 million. During the same quarter in the previous year, the company posted $0.26 EPS. The business’s revenue for the quarter was up 47.8% compared to the same quarter last year.

In other news, insider Michael Morrissey sold 234,267 shares of Exelixis stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $21.04, for a total value of $4,928,977.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Gisela Schwab sold 12,000 shares of Exelixis stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $14.16, for a total value of $169,920.00. The disclosure for this sale can be found here. Insiders sold a total of 535,767 shares of company stock valued at $10,228,738 over the last three months. Insiders own 4.80% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. James Investment Research Inc. acquired a new stake in shares of Exelixis during the second quarter worth $133,000. Polaris Greystone Financial Group LLC acquired a new stake in shares of Exelixis during the third quarter worth $177,000. Fox Run Management L.L.C. acquired a new stake in shares of Exelixis during the third quarter worth $183,000. Advisors Asset Management Inc. grew its stake in shares of Exelixis by 94.7% during the second quarter. Advisors Asset Management Inc. now owns 41,168 shares of the biotechnology company’s stock worth $213,000 after purchasing an additional 20,025 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Exelixis during the second quarter worth $217,000. 81.84% of the stock is owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Exelixis (NASDAQ:EXEL)

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