What is Zacks Research’s Forecast for Exelixis Q3 Earnings?

Exelixis, Inc. (NASDAQ:EXEL) – Research analysts at Zacks Research lifted their Q3 2026 earnings per share estimates for Exelixis in a research note issued on Monday, May 25th. Zacks Research analyst Team now anticipates that the biotechnology company will post earnings per share of $0.76 for the quarter, up from their previous estimate of $0.74. Zacks Research has a “Hold” 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’ Q4 2026 earnings at $0.83 EPS, FY2026 earnings at $3.13 EPS, Q1 2027 earnings at $0.79 EPS, Q2 2027 earnings at $0.89 EPS, Q3 2027 earnings at $0.92 EPS, Q4 2027 earnings at $1.02 EPS, FY2027 earnings at $3.61 EPS, Q1 2028 earnings at $0.98 EPS and FY2028 earnings at $4.28 EPS.

A number of other analysts have also issued reports on EXEL. Morgan Stanley lifted their price target on Exelixis from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Truist Financial raised Exelixis to a “strong-buy” rating in a research note on Monday, April 27th. Royal Bank Of Canada lowered their price target on Exelixis from $46.00 to $43.00 and set a “sector perform” rating on the stock in a research note on Monday, March 2nd. Stifel Nicolaus lifted their price target on Exelixis from $44.00 to $47.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen raised Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $47.35.

Exelixis Price Performance

Shares of NASDAQ:EXEL opened at $51.45 on Friday. The business’s 50 day moving average price is $45.83 and its 200-day moving average price is $44.18. The firm has a market capitalization of $12.93 billion, a PE ratio of 17.09, a P/E/G ratio of 1.06 and a beta of 0.38. Exelixis has a 1 year low of $33.76 and a 1 year high of $52.96.

Exelixis (NASDAQ:EXEL) last issued its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.75 by $0.12. The company had revenue of $610.81 million for the quarter, compared to analyst estimates of $607.51 million. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.Exelixis’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the company earned $0.55 earnings per share.

Insider Activity at Exelixis

In other Exelixis news, CFO Christopher J. Senner sold 34,901 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $50.00, for a total transaction of $1,745,050.00. Following the transaction, the chief financial officer owned 952,317 shares of the company’s stock, valued at approximately $47,615,850. The trade was a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Patrick J. Haley sold 32,110 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $49.81, for a total value of $1,599,399.10. Following the transaction, the executive vice president directly owned 357,638 shares in the company, valued at $17,813,948.78. This trade represents a 8.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 205,433 shares of company stock valued at $9,930,259 in the last three months. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Exelixis

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EXEL. AQR Capital Management LLC boosted its stake in Exelixis by 48.8% during the fourth quarter. AQR Capital Management LLC now owns 13,658,388 shares of the biotechnology company’s stock worth $598,647,000 after buying an additional 4,477,029 shares during the last quarter. Farallon Capital Management LLC boosted its stake in Exelixis by 21.6% during the third quarter. Farallon Capital Management LLC now owns 19,501,500 shares of the biotechnology company’s stock worth $805,412,000 after buying an additional 3,466,000 shares during the last quarter. Assetmark Inc. boosted its stake in Exelixis by 1,230.8% during the third quarter. Assetmark Inc. now owns 3,195,971 shares of the biotechnology company’s stock worth $131,994,000 after buying an additional 2,955,813 shares during the last quarter. Norges Bank acquired a new position in Exelixis during the fourth quarter worth $106,460,000. Finally, Allianz Asset Management GmbH boosted its stake in Exelixis by 153.3% during the third quarter. Allianz Asset Management GmbH now owns 2,462,948 shares of the biotechnology company’s stock worth $101,720,000 after buying an additional 1,490,520 shares during the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Key Exelixis News

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Zacks Research raised its Q2 2026 EPS estimate for Exelixis to $0.75 from $0.72, signaling slightly better near-term earnings expectations.
• Positive Sentiment: Exelixis announced upcoming June fireside chats at major healthcare conferences, giving management a platform to discuss strategy and pipeline progress with investors. Investor conference webcast announcement
• Positive Sentiment: A separate article highlighted Exelixis as a profitable, cash-generative biotech that could benefit from rotation into healthcare names, which may be helping sentiment. Positive commentary on Exelixis
• Neutral Sentiment: Executive Vice President Dana Aftab sold 43,451 shares for about $2.19 million, a disclosure that can create some caution but is not necessarily a negative signal on its own. SEC insider filing
• Neutral Sentiment: Short-interest data showed no meaningful short position, so there is little evidence of a bearish squeeze setup either way. Short interest report

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.