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

Exelixis, Inc. (NASDAQ:EXEL) – Zacks Research upped their Q3 2026 EPS estimates for shares of Exelixis in a research note issued to investors on Tuesday, August 4th. Zacks Research analyst Team now expects that the biotechnology company will post earnings per share of $0.77 for the quarter, up from their previous estimate 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.

EXEL has been the topic of several other research reports. Morgan Stanley lifted their price target on Exelixis from $50.00 to $53.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Citigroup restated a “market outperform” rating on shares of Exelixis in a research report on Wednesday, July 22nd. HC Wainwright reiterated a “buy” rating and issued a $56.00 target price on shares of Exelixis in a research report on Thursday, July 2nd. Weiss Ratings downgraded shares of Exelixis from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, July 24th. Finally, TD Cowen increased their price objective on Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Eight equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $49.50.

Exelixis Price Performance

NASDAQ EXEL opened at $56.70 on Thursday. The business has a fifty day moving average price of $54.08 and a two-hundred day moving average price of $47.84. The stock has a market capitalization of $14.25 billion, a PE ratio of 18.84, a PEG ratio of 1.62 and a beta of 0.44. Exelixis has a fifty-two week low of $33.76 and a fifty-two week high of $57.57.

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

Insider Activity

In related news, EVP Patrick J. Haley sold 32,110 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $49.81, for a total transaction of $1,599,399.10. Following the transaction, the executive vice president directly owned 357,638 shares of the company’s stock, valued at $17,813,948.78. This trade represents a 8.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Christopher J. Senner sold 34,901 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $50.00, for a total transaction of $1,745,050.00. Following the transaction, the chief financial officer directly owned 952,317 shares in the company, valued at $47,615,850. The trade was a 3.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 130,824 shares of company stock worth $6,555,231. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in shares of Exelixis by 48.8% during the 4th quarter. AQR Capital Management LLC now owns 13,658,388 shares of the biotechnology company’s stock valued at $598,647,000 after purchasing an additional 4,477,029 shares during the last quarter. Norges Bank purchased a new position in shares of Exelixis in the 4th quarter worth about $106,460,000. UBS Group AG grew its position in Exelixis by 100.1% during the third quarter. UBS Group AG now owns 2,655,069 shares of the biotechnology company’s stock valued at $109,654,000 after buying an additional 1,328,087 shares during the period. Thrivent Financial for Lutherans grew its position in Exelixis by 1,821.0% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,188,105 shares of the biotechnology company’s stock valued at $52,075,000 after buying an additional 1,126,256 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Exelixis by 111.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,115,456 shares of the biotechnology company’s stock worth $92,720,000 after buying an additional 1,113,916 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

More Exelixis News

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.