Exelixis (NASDAQ:EXEL) Posts Earnings Results, Beats Expectations By $0.06 EPS

Exelixis (NASDAQ:EXEL) posted its quarterly earnings data on Wednesday. The biotechnology company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06, FiscalAI reports. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The firm had revenue of $628.69 million during the quarter, compared to the consensus estimate of $636.40 million. During the same period in the prior year, the company earned $0.75 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year.

Here are the key takeaways from Exelixis’ conference call:

• Positive Sentiment: Second-quarter cabozantinib franchise revenue rose 10% year over year in the U.S. to $573 million, while global franchise revenue increased 13% to $806 million. CABOMETYX reached more than 45% new-patient share in second-line-plus NET and maintained leading positions in RCC.
• Negative Sentiment: Exelixis lowered and narrowed its 2026 revenue and net product revenue guidance, reducing the midpoint by $50 million, as NET adoption is ramping more gradually than expected. Management attributed the slower trajectory to the indolent nature and treatment patterns of NET patients, while maintaining confidence in the long-term opportunity.
• Positive Sentiment: Zanzalintinib remains the company’s top R&D and commercial priority, with an FDA decision expected in early December for third-line-plus colorectal cancer. Exelixis is preparing for a potential launch and advancing pivotal programs in NET, non-clear cell RCC, early-stage CRC, and other tumor types that could support a multi-franchise oncology business.
• Positive Sentiment: The company repurchased approximately $312 million of stock during the quarter and ended June with $598 million remaining under its current $750 million authorization. Cash and marketable securities totaled approximately $1.4 billion, supporting continued investment in the pipeline and shareholder returns.

Exelixis Stock Up 1.3%

NASDAQ:EXEL traded up $0.70 on Wednesday, hitting $56.70. The stock had a trading volume of 4,200,768 shares, compared to its average volume of 2,361,493. The company has a fifty day moving average price of $54.08 and a two-hundred day moving average price of $47.84. Exelixis has a 1-year low of $33.76 and a 1-year high of $57.57. The stock has a market cap of $14.25 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 1.62 and a beta of 0.44.

Insider Buying and Selling at Exelixis

In related news, EVP Dana Aftab sold 43,451 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $50.35, for a total value of $2,187,757.85. Following the completion of the transaction, the executive vice president directly owned 594,741 shares in the company, valued at approximately $29,945,209.35. This represents a 6.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Christopher J. Senner sold 34,901 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $50.00, for a total value of $1,745,050.00. Following the sale, the chief financial officer directly owned 952,317 shares of the company’s stock, valued at approximately $47,615,850. This trade represents a 3.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 219,170 shares of company stock worth $10,620,641. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Exelixis

A number of hedge funds have recently modified their holdings of the business. Motiv8 Investments LLC acquired a new position in Exelixis in the fourth quarter valued at about $26,000. Acumen Wealth Advisors LLC purchased a new stake in shares of Exelixis in the 4th quarter valued at approximately $29,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Exelixis by 1,380.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company’s stock worth $34,000 after acquiring an additional 773 shares during the last quarter. Transamerica Financial Advisors LLC lifted its holdings in shares of Exelixis by 266.6% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,129 shares of the biotechnology company’s stock worth $49,000 after acquiring an additional 821 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of Exelixis by 134.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 944 shares during the period. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on EXEL. Zacks Research cut shares of Exelixis from a “hold” rating to a “strong sell” rating in a research report on Monday. Truist Financial upped their price objective on shares of Exelixis from $54.00 to $56.00 and gave the company a “hold” rating in a research note on Tuesday, July 7th. Wells Fargo & Company increased their price objective on shares of Exelixis from $40.00 to $49.00 and gave the company an “equal weight” rating in a report on Monday, July 13th. Royal Bank Of Canada raised their target price on shares of Exelixis from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 7th. Finally, Citigroup restated a “market outperform” rating on shares of Exelixis in a report on Wednesday, July 22nd. Eight equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Exelixis has a consensus rating of “Hold” and an average target price of $49.50.

Key Stories Impacting Exelixis

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Exelixis reported second-quarter 2026 earnings of $0.91 per share, exceeding the $0.85–$0.86 analyst consensus and rising from $0.75 in the year-ago quarter. Exelixis Tops Q2 Earnings Estimates
• Positive Sentiment: Quarterly revenue rose 10.6% year over year to $628.7 million, while strong profitability continued, with a 35.08% net margin and 39.89% return on equity. Exelixis Announces Second-Quarter 2026 Results
• Positive Sentiment: The company said it continues to execute on its commercial, clinical and pipeline objectives, supporting the investment case around future product and development milestones. Exelixis Corporate Update
• Neutral Sentiment: Exelixis updated its fiscal 2026 outlook, forecasting revenue of $2.5 billion to $2.6 billion. The upper end matches the consensus estimate, but the midpoint is below expectations; no specific EPS guidance was provided in the update.
• Negative Sentiment: Second-quarter revenue of $628.7 million fell short of the $636.4 million analyst estimate, partially offsetting the earnings beat.
• Negative Sentiment: Zacks Research downgraded EXEL from “Hold” to “Strong Sell” and trimmed several estimates for late 2027 and 2028 earnings, citing expectations for slightly lower future EPS. Zacks Research Rating Update

About Exelixis

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.