Wall Street analysts forecast that Exelixis (EXEL) will report quarterly earnings of $0.63 per share in its upcoming release, pointing to a year-over-year decline of 25%. It is anticipated that revenues will amount to $574.51 million, exhibiting a decrease of 9.8% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has undergone a downward revision of 0.4% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some Exelixis metrics that Wall Street analysts commonly model and monitor.
Analysts expect 'Revenues- Net product' to come in at $522.61 million. The estimate indicates a year-over-year change of +19.4%.
The collective assessment of analysts points to an estimated 'Revenues- Collaboration services' of $51.23 million. The estimate points to a change of +1011% from the year-ago quarter.
The consensus estimate for 'Revenues- Net product- COMETRIQ' stands at $3.58 million. The estimate points to a change of -15.7% from the year-ago quarter.
Analysts predict that the 'Revenues- Net product- CABOMETYX' will reach $527.01 million. The estimate indicates a change of +21.6% from the prior-year quarter.
View all Key Company Metrics for Exelixis here>>>
Exelixis shares have witnessed a change of -2.7% in the past month, in contrast to the Zacks S&P 500 composite's +5.9% move. With a Zacks Rank #2 (Buy), EXEL is expected outperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Exelixis, Inc. (EXEL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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