We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Strength Seen in Exelixis (EXEL): Can Its 5.6% Jump Turn into More Strength?
Read MoreHide Full Article
Exelixis (EXEL - Free Report) shares soared 5.6% in the last trading session to close at $20.99. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 10.4% loss over the past four weeks.
Exelixis’ oncology portfolio has solid growth prospects. Lead drug Cabometyx has been performing impressively in the kidney cancer space. Label expansion of the drug in additional indications will be a significant boost for the company. Exelixis also has a deep promising pipeline. Investors are upbeat about the company’s performance year-to-date in 2023 and expect further traction.
This drug developer is expected to post quarterly earnings of $0.21 per share in its upcoming report, which represents a year-over-year change of -32.3%. Revenues are expected to be $474.27 million, up 15.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Exelixis, the consensus EPS estimate for the quarter has been revised 6.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on EXEL going forward to see if this recent jump can turn into more strength down the road.
Exelixis is part of the Zacks Medical - Biomedical and Genetics industry. Werewolf Therapeutics, Inc. (HOWL - Free Report) , another stock in the same industry, closed the last trading session 3.8% lower at $2.31. HOWL has returned 8.1% in the past month.
For Werewolf Therapeutics, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.27. This represents a change of +32.5% from what the company reported a year ago. Werewolf Therapeutics, Inc. currently has a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Strength Seen in Exelixis (EXEL): Can Its 5.6% Jump Turn into More Strength?
Exelixis (EXEL - Free Report) shares soared 5.6% in the last trading session to close at $20.99. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 10.4% loss over the past four weeks.
Exelixis’ oncology portfolio has solid growth prospects. Lead drug Cabometyx has been performing impressively in the kidney cancer space. Label expansion of the drug in additional indications will be a significant boost for the company. Exelixis also has a deep promising pipeline. Investors are upbeat about the company’s performance year-to-date in 2023 and expect further traction.
This drug developer is expected to post quarterly earnings of $0.21 per share in its upcoming report, which represents a year-over-year change of -32.3%. Revenues are expected to be $474.27 million, up 15.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Exelixis, the consensus EPS estimate for the quarter has been revised 6.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on EXEL going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Exelixis is part of the Zacks Medical - Biomedical and Genetics industry. Werewolf Therapeutics, Inc. (HOWL - Free Report) , another stock in the same industry, closed the last trading session 3.8% lower at $2.31. HOWL has returned 8.1% in the past month.
For Werewolf Therapeutics, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.27. This represents a change of +32.5% from what the company reported a year ago. Werewolf Therapeutics, Inc. currently has a Zacks Rank of #3 (Hold).