Exelixis FY2027 Earnings Forecast Lowered by Zacks Research

Key Points

• Zacks Research lowered Exelixis’ FY2027 EPS forecast to $3.56 from $3.59 and maintained a “Hold” rating; the broader analyst consensus is also “Hold,” with a $50.79 price target.
• Exelixis reported strong quarterly earnings of $0.91 per share, beating estimates of $0.85, while revenue rose 10.6% year over year to $628.69 million but fell short of expectations.
• Shares opened at $59.86, near their 52-week high, as investors weighed potential growth from experimental cancer drug zanzalintinib against concerns about cabozantinib’s patent-expiration outlook and future competition.

Exelixis, Inc. (NASDAQ:EXEL - Free Report) - Analysts at Zacks Research dropped their FY2027 earnings per share (EPS) estimates for shares of Exelixis in a research note issued to investors on Thursday, October 8th. Zacks Research analyst Team now anticipates that the biotechnology company will post earnings of $3.56 per share for the year, down from their prior forecast of $3.59. Zacks Research has a "Hold" rating on the stock. The consensus estimate for Exelixis' current full-year earnings is $3.19 per share. Zacks Research also issued estimates for Exelixis' Q4 2027 earnings at $0.99 EPS.

Several other equities research analysts have also commented on the stock. Wells Fargo & Company raised their price target on shares of Exelixis from $40.00 to $49.00 and gave the company an "equal weight" rating in a research note on Monday, July 13th. Citigroup reiterated a "market outperform" rating on shares of Exelixis in a research report on Monday, September 14th. Weiss Ratings raised Exelixis from a "buy (a-)" rating to a "buy (a)" rating in a report on Thursday. Wall Street Zen cut Exelixis from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Citizens Jmp lifted their target price on Exelixis from $50.00 to $55.00 and gave the company a "market outperform" rating in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $50.79.

Exelixis Price Performance

Shares of NASDAQ:EXEL opened at $59.86 on Monday. The company has a market cap of $14.83 billion, a PE ratio of 18.82, a P/E/G ratio of 1.78 and a beta of 0.47. The company's 50-day moving average price is $56.26 and its 200 day moving average price is $52.28. Exelixis has a fifty-two week low of $33.76 and a fifty-two week high of $61.14.

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

Insider Activity

In other news, Director Mary Beckerle sold 9,812 shares of the business's stock in a transaction 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 sale, the director owned 16,079 shares of the company's stock, valued at approximately $862,799.14. The trade was a 37.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.60% of the company's stock.

Institutional Trading of Exelixis

Institutional investors have recently modified their holdings of the company. Arkadios Wealth Advisors acquired a new position in shares of Exelixis in the 1st quarter worth approximately $476,000. Corient Private Wealth LP acquired a new stake in Exelixis during the second quarter valued at approximately $4,324,000. L2 Asset Management LLC bought a new stake in Exelixis during the second quarter worth approximately $6,839,000. BlackRock Inc. bought a new stake in Exelixis during the second quarter worth approximately $1,581,991,000. Finally, JLB & Associates Inc. acquired a new position in Exelixis in the second quarter worth approximately $2,658,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Key Stories Impacting Exelixis

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: RBC said Exelixis’ experimental cancer drug zanzalintinib has a high likelihood of success in ongoing clinical trials. Positive trial expectations could support the company’s future growth prospects beyond its established cabozantinib franchise. Exelixis' Zanzalintinib Clinical Trials for Cancer Highly Likely to Succeed, RBC Says
• Positive Sentiment: Truist raised its Exelixis price target to $54 from $52, citing its updated view of the company’s outlook. Zacks Research also modestly increased its FY2028 earnings-per-share estimate to $4.22 from $4.21, indicating stable long-term earnings expectations. Exelixis Stock Gets a Higher Truist Target at USD 54
• Neutral Sentiment: RBC subsequently lifted its target to $51 from $45 but maintained a Sector Perform rating. Truist continues to rate the stock Hold. Although the target increases are constructive, both targets remain well below the current share price, limiting their immediate bullish impact. RBC Raises Price Target on Exelixis to $51 From $45, Keeps Sector Perform Rating
• Negative Sentiment: RBC previously cut its target to $45 from $46, while commentary questioned whether Exelixis is fully valued as the patent-protection window for cabozantinib comes into focus. Potential future competition and reliance on the core product could weigh on valuation. Is Exelixis Fully Valued as Its Cabozantinib Patent Window Comes Into Focus?

Exelixis Company Profile

Exelixis, Inc is a biopharmaceutical company focused on discovering, developing, and commercializing medicines for cancer. The company's research and development activities are centered primarily on targeted therapies and other treatments for solid tumors.

Exelixis' principal product is cabozantinib, marketed in the United States as CABOMETYX tablets for certain patients with renal cell carcinoma, hepatocellular carcinoma, and differentiated thyroid cancer. The company also markets COMETRIQ, a cabozantinib formulation approved in the United States for progressive or metastatic medullary thyroid cancer.

Exelixis was founded in 1994 and is headquartered in Alameda, California.

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