Exelixis (NASDAQ:EXEL) Announces Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Exelixis (NASDAQ:EXEL) released its quarterly earnings data on Tuesday. The biotechnology company reported $0.48 earnings per share for the quarter, missing the consensus estimate 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 Stock Down 2.1 %

Shares of Exelixis stock opened at $32.81 on Wednesday. The firm’s 50-day moving average price is $34.30 and its two-hundred day moving average price is $30.71. The company has a market capitalization of $9.37 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 0.63 and a beta of 0.53. Exelixis has a 12-month low of $20.01 and a 12-month high of $37.59.

Insider Buying and Selling

In related news, EVP Patrick J. Haley sold 10,000 shares of Exelixis stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $35.27, for a total transaction of $352,700.00. Following the sale, the executive vice president now directly owns 278,665 shares of the company’s stock, valued at approximately $9,828,514.55. The trade was a 3.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the completion of the sale, the executive vice president now owns 486,059 shares in the company, valued at $17,823,783.53. This 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. Corporate insiders own 2.85% of the company’s stock.

Analysts Set New Price Targets

EXEL has been the subject of several research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $34.00 price objective on shares of Exelixis in a research report on Wednesday, October 30th. The Goldman Sachs Group upgraded shares of Exelixis to a “strong sell” rating in a report on Tuesday, October 15th. HC Wainwright restated a “buy” rating and set a $40.00 price objective on shares of Exelixis in a report on Monday, January 27th. Oppenheimer lowered shares of Exelixis from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $41.00 to $33.00 in a research note on Friday, January 24th. Finally, Morgan Stanley raised Exelixis from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $30.00 to $40.00 in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Exelixis presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.06.

About Exelixis

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.