Analysts Offer Predictions for Exelixis FY2026 Earnings

Key Points

• Zacks Research raised Exelixis’ FY2026 EPS forecast to $3.18 from $3.12, matching the current consensus estimate, while projecting $3.57 EPS for FY2027 and $0.96 for Q1 2028.
• Exelixis’ latest quarterly results exceeded expectations, with EPS of $0.91 versus the $0.85 consensus and revenue up 10.6% year over year to $628.69 million, although revenue fell short of estimates.
• Despite generally positive broker ratings and an average price target of $50.07, Zacks maintains a “Strong Sell” rating; the stock recently traded at $55.26 near its 52-week high, while unusually heavy put-option activity signaled increased downside concern.

Exelixis, Inc. (NASDAQ:EXEL - Free Report) - Zacks Research lifted their FY2026 earnings per share estimates for Exelixis in a note issued to investors on Wednesday, August 26th. Zacks Research analyst Team now anticipates that the biotechnology company will post earnings per share of $3.18 for the year, up from their prior estimate of $3.12. Zacks Research has a "Strong Sell" rating on the stock. The consensus estimate for Exelixis' current full-year earnings is $3.18 per share. Zacks Research also issued estimates for Exelixis' Q1 2027 earnings at $0.80 EPS, FY2027 earnings at $3.57 EPS and Q1 2028 earnings at $0.96 EPS.

Exelixis (NASDAQ:EXEL - Get Free Report) last posted its earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. The company had revenue of $628.69 million during the quarter, compared to analyst estimates of $636.40 million. Exelixis had a return on equity of 42.17% and a net margin of 35.33%.The company's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 EPS.

A number of other brokerages have also weighed in on EXEL. UBS Group set a $55.00 target price on shares of Exelixis in a research note on Monday, August 3rd. Wall Street Zen cut shares of Exelixis from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 8th. TD Cowen boosted their price target on Exelixis from $51.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Weiss Ratings raised Exelixis from a "buy (b)" rating to a "buy (a-)" rating in a report on Tuesday, August 11th. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Exelixis in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $50.07.

Exelixis Price Performance

Exelixis stock opened at $55.26 on Friday. The company's 50 day simple moving average is $54.52 and its 200 day simple moving average is $48.96. Exelixis has a fifty-two week low of $33.76 and a fifty-two week high of $57.57. The firm has a market capitalization of $13.69 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 1.67 and a beta of 0.44.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EXEL. Motiv8 Investments LLC bought a new stake in shares of Exelixis in the fourth quarter valued at about $26,000. Cassaday & Co Wealth Management LLC bought a new position in Exelixis during the first quarter worth about $27,000. Western Wealth Management LLC bought a new position in Exelixis during the first quarter worth about $29,000. Acumen Wealth Advisors LLC acquired a new stake in Exelixis in the 4th quarter worth about $29,000. Finally, Activest Wealth Management acquired a new stake in Exelixis in the 4th quarter worth about $32,000. Institutional investors own 85.27% of the company's stock.

Insider Activity

In other news, Director Mary C. Beckerle sold 9,812 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $53.66, for a total value of $526,511.92. Following the transaction, the director owned 16,079 shares of the company's stock, valued at approximately $862,799.14. This represents a 37.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jack L. Wyszomierski sold 3,925 shares of the stock in a transaction that occurred 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 transaction, the director owned 284,384 shares in the company, valued at approximately $14,375,611.20. This trade represents a 1.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 23,549 shares of company stock valued at $1,216,894. 2.60% of the stock is owned by insiders.

Exelixis News Summary

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Zacks Research raised its FY2026 EPS forecast to $3.18 from $3.12 and increased its Q1 2027 estimate to $0.80 from $0.79. Its Q3 2027 forecast also edged higher to $0.93 from $0.92.
• Neutral Sentiment: The analyst firm maintained estimates of $3.57 EPS for FY2027 and $0.96 EPS for Q1 2028, broadly consistent with the figures cited in its updated forecasts.
• Negative Sentiment: Zacks Research lowered its Q4 2026 EPS estimate to $0.81 from $0.83, reduced its Q2 2027 forecast to $0.84 from $0.89, and trimmed its FY2027 estimate to $3.57 from $3.60. These revisions suggest some concern about near-term earnings momentum.
• Negative Sentiment: Zacks Research continues to assign Exelixis a “Strong Sell” rating, despite the modest increases to several estimates. The firm’s current full-year consensus estimate remains $3.18 per share.
• Negative Sentiment: Options activity was unusually bearish on Thursday, with traders purchasing 10,010 put options—about 826% above the average daily volume of 1,081 contracts. While put buying can represent hedging rather than outright bearish speculation, the surge signals elevated downside protection or concern.

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.

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