Zacks Research Predicts Exelixis’ Q3 Earnings (NASDAQ:EXEL)

Exelixis, Inc. (NASDAQ:EXEL) – Investment analysts at Zacks Research boosted their Q3 2026 earnings per share estimates for shares of Exelixis in a research note issued on Tuesday, August 4th. Zacks Research analyst Team now expects that the biotechnology company will post earnings of $0.77 per share for the quarter, up from their previous forecast of $0.76. Zacks Research currently has a “Strong Sell” rating on the stock. The consensus estimate for Exelixis’ current full-year earnings is $3.15 per share. Zacks Research also issued estimates for Exelixis’ FY2026 earnings at $3.12 EPS, FY2027 earnings at $3.60 EPS and FY2028 earnings at $4.18 EPS.

A number of other brokerages have also recently issued reports on EXEL. Truist Financial upped their price objective on shares of Exelixis from $54.00 to $56.00 and gave the stock a “hold” rating in a report on Tuesday, July 7th. TD Cowen upped their price target on Exelixis from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Wells Fargo & Company increased their price target on Exelixis from $40.00 to $49.00 and gave the company an “equal weight” rating in a report on Monday, July 13th. HC Wainwright reaffirmed a “buy” rating and set a $56.00 price objective on shares of Exelixis in a report on Thursday, July 2nd. Finally, Citigroup restated a “market outperform” rating on shares of Exelixis in a research note on Wednesday, July 22nd. Eight investment 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $49.50.

Exelixis Stock Up 1.3%

EXEL stock opened at $56.70 on Thursday. The firm has a 50 day moving average of $54.08 and a two-hundred day moving average of $47.84. Exelixis has a 12 month low of $33.76 and a 12 month high of $57.57. The company has a market capitalization of $14.25 billion, a price-to-earnings ratio of 18.84, a P/E/G ratio of 1.62 and a beta of 0.44.

Exelixis (NASDAQ:EXEL) last released its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $628.69 million for the quarter, compared to the consensus estimate of $636.40 million. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The firm’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 earnings per share.

Hedge Funds Weigh In On Exelixis

Large investors have recently modified their holdings of the stock. Stephens Investment Management Group LLC increased its stake in Exelixis by 1.1% during the 4th quarter. Stephens Investment Management Group LLC now owns 2,539,421 shares of the biotechnology company’s stock worth $111,303,000 after acquiring an additional 28,265 shares during the period. Cibc World Market Inc. lifted its position in shares of Exelixis by 462.3% during the 4th quarter. Cibc World Market Inc. now owns 38,904 shares of the biotechnology company’s stock valued at $1,705,000 after acquiring an additional 31,985 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Exelixis by 79.5% during the 4th quarter. BNP Paribas Financial Markets now owns 1,117,936 shares of the biotechnology company’s stock valued at $48,999,000 after acquiring an additional 495,247 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Exelixis by 111.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,115,456 shares of the biotechnology company’s stock worth $92,720,000 after purchasing an additional 1,113,916 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of Exelixis during the 4th quarter worth $7,383,000. 85.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Jack L. Wyszomierski sold 3,925 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $50.55, for a total value of $198,408.75. Following the sale, the director owned 284,384 shares in the company, valued at approximately $14,375,611.20. This represents a 1.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrick J. Haley sold 32,110 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $49.81, for a total value of $1,599,399.10. Following the sale, the executive vice president directly owned 357,638 shares of the company’s stock, valued at $17,813,948.78. This represents a 8.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 130,824 shares of company stock valued at $6,555,231 in the last quarter. 2.60% of the stock is currently owned by corporate insiders.

Exelixis News Roundup

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Exelixis reported second-quarter adjusted earnings of $0.91 per share, above the approximately $0.85–$0.86 analyst consensus and up from $0.75 a year earlier. Revenue increased 10.6% year over year to $628.7 million, while net margin and return on equity remained strong. Exelixis Announces Second Quarter 2026 Financial Results and Provides Corporate Update
• Positive Sentiment: TD Cowen reaffirmed a Buy rating, citing resilience in Cabozantinib sales, disciplined cost management and potential upside from zanzalintinib. The analyst’s $55 price target, however, is below the stock’s referenced $56.70 level. Exelixis Buy Rating Reaffirmed
• Neutral Sentiment: Management outlined launch plans for zanzalintinib in colorectal cancer, potentially providing a future growth catalyst. Investors are likely to weigh that opportunity against the time and costs required for commercialization. Exelixis Outlines Zanza CRC Launch Plans
• Negative Sentiment: Exelixis lowered the midpoint of its 2026 revenue outlook by $50 million, to a $2.5 billion–$2.6 billion range versus consensus near $2.6 billion. The guidance reduction overshadowed the EPS beat and raised concerns about near-term demand and revenue timing.
• Negative Sentiment: Analysts at Zacks Research cut several future EPS estimates and downgraded Exelixis from Hold to Strong Sell. Although these changes concern later periods, they add pressure to sentiment following the company’s guidance reduction. Exelixis Q2 Earnings Metrics

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.