Exelixis, Inc. (EXEL - Free Report) is a genomics-based drug discovery company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on EXEL’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Exelixis could be a solid choice for investors.
Current Quarter Estimates for EXEL
In the past 30 days, 3 estimates have gone higher for Exelixiswhile none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 16 cents a share 30 days ago, to a loss of 13 cents per share today, a move of 23.1%.
Current Year Estimates for EXEL
Meanwhile, Exelixis’s current year figures are also looking quite promising, with 4 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 71 cents a share 30 days ago to a loss of 63 cents per share today, an increase of 12.7%.
EXELIXIS INC PRICE AND CONSENSUS
The stock has also started to move higher lately, adding 36.5% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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