Zacks Research Forecasts Exelixis' Q3 Earnings (NASDAQ:EXEL)

Key Points

• Zacks Research has lowered its Q3 2026 earnings estimate for Exelixis to $0.62 per share, down from $0.63, while maintaining a "Hold" rating on the stock.
• The company reported Q2 earnings of $0.75 EPS, surpassing analysts' expectations, but its revenue fell short, totaling $568.26 million compared to an expected $574.36 million.
• Recent assessments by various analysts have resulted in fluctuating price targets for Exelixis, with current consensus rating of "Moderate Buy" and an average target price of $44.06.

Exelixis, Inc. (NASDAQ:EXEL - Free Report) - Investment analysts at Zacks Research dropped their Q3 2026 earnings per share (EPS) estimates for Exelixis in a research report issued to clients and investors on Wednesday, August 27th. Zacks Research analyst Team now anticipates that the biotechnology company will post earnings per share of $0.62 for the quarter, down from their prior estimate of $0.63. Zacks Research has a "Hold" rating on the stock. The consensus estimate for Exelixis' current full-year earnings is $2.04 per share. Zacks Research also issued estimates for Exelixis' FY2026 earnings at $2.48 EPS, Q2 2027 earnings at $0.75 EPS and FY2027 earnings at $3.07 EPS.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.12. Exelixis had a return on equity of 27.47% and a net margin of 27.01%.The firm had revenue of $568.26 million during the quarter, compared to the consensus estimate of $574.36 million. During the same period in the prior year, the firm earned $0.84 EPS. The firm's quarterly revenue was down 10.8% compared to the same quarter last year. Exelixis has set its FY 2025 guidance at EPS.

A number of other equities analysts have also commented on EXEL. Barclays boosted their price objective on shares of Exelixis from $29.00 to $40.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. JMP Securities reissued a "market outperform" rating and set a $50.00 price objective on shares of Exelixis in a report on Tuesday, July 29th. Stifel Nicolaus raised their price objective on shares of Exelixis from $38.00 to $41.00 and gave the stock a "hold" rating in a report on Tuesday, July 29th. Stephens raised shares of Exelixis from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $29.00 to $60.00 in a report on Tuesday, June 24th. Finally, HC Wainwright decreased their price objective on shares of Exelixis from $53.00 to $46.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Thirteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $44.06.

Exelixis Price Performance

NASDAQ EXEL traded down $0.03 during trading hours on Monday, hitting $36.94. The company had a trading volume of 690,716 shares, compared to its average volume of 3,011,961. Exelixis has a fifty-two week low of $25.12 and a fifty-two week high of $49.62. The company has a market capitalization of $9.94 billion, a price-to-earnings ratio of 17.74, a P/E/G ratio of 0.77 and a beta of 0.32. The firm's 50 day moving average is $40.84 and its 200 day moving average is $39.51.

Hedge Funds Weigh In On Exelixis

Several hedge funds and other institutional investors have recently modified their holdings of EXEL. Hemington Wealth Management boosted its holdings in shares of Exelixis by 211.3% during the first quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company's stock valued at $28,000 after acquiring an additional 522 shares during the period. Colonial Trust Co SC boosted its holdings in shares of Exelixis by 616.9% during the fourth quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock valued at $30,000 after acquiring an additional 765 shares during the period. Byrne Asset Management LLC boosted its holdings in shares of Exelixis by 129.0% during the second quarter. Byrne Asset Management LLC now owns 710 shares of the biotechnology company's stock valued at $31,000 after acquiring an additional 400 shares during the period. Luminist Capital LLC boosted its holdings in shares of Exelixis by 2,740.0% during the second quarter. Luminist Capital LLC now owns 710 shares of the biotechnology company's stock valued at $31,000 after acquiring an additional 685 shares during the period. Finally, Family Legacy Financial Solutions LLC acquired a new position in shares of Exelixis during the second quarter valued at $33,000. Institutional investors and hedge funds own 85.27% of the company's stock.

About Exelixis

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.