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

Key Points

• Zacks Research raised its Q3 2026 EPS forecast for Exelixis to $0.76 from $0.74, while keeping a Hold rating on the stock.
• Exelixis recently beat quarterly expectations, reporting $0.87 EPS versus the $0.75 consensus, with revenue of $610.81 million, up 10% year over year.
• Analysts remain mixed overall: the stock has a consensus Hold rating and an average price target of $47.35, even as several firms recently nudged targets higher.

Exelixis, Inc. (NASDAQ:EXEL - Free Report) - Investment analysts at Zacks Research boosted their Q3 2026 earnings estimates for shares of Exelixis in a research note issued to investors 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 forecast of $0.74. Zacks Research currently 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.

Exelixis (NASDAQ:EXEL - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.12. Exelixis had a return on equity of 39.89% and a net margin of 35.08%.The firm had revenue of $610.81 million during the quarter, compared to analysts' expectations of $607.51 million. During the same period last year, the business posted $0.55 earnings per share. The company's revenue for the quarter was up 10.0% compared to the same quarter last year.

Several other research analysts have also recently issued reports on EXEL. Wall Street Zen upgraded Exelixis from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 9th. HC Wainwright raised their price objective on Exelixis from $54.00 to $56.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Barclays raised their price objective on Exelixis from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Monday, April 20th. Morgan Stanley raised their price objective on Exelixis from $49.00 to $50.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 6th. Finally, Stifel Nicolaus raised their price objective on Exelixis from $44.00 to $47.00 and gave the stock a "hold" rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $47.35.

Exelixis Stock Up 2.8%

Shares of NASDAQ:EXEL opened at $51.45 on Friday. Exelixis has a 52-week low of $33.76 and a 52-week high of $52.96. The stock has a market cap of $12.93 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 1.06 and a beta of 0.38. The business has a 50-day moving average price of $45.83 and a 200-day moving average price of $44.18.

Insider Buying and Selling at Exelixis

In related news, SVP Brenda Hefti sold 6,625 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $50.21, for a total transaction of $332,641.25. Following the sale, the senior vice president directly owned 106,762 shares of the company's stock, valued at approximately $5,360,520.02. This represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Dana Aftab sold 43,451 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $50.35, for a total transaction of $2,187,757.85. Following the sale, the executive vice president directly owned 594,741 shares in the company, valued at $29,945,209.35. This trade represents a 6.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 205,433 shares of company stock worth $9,930,259. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Exelixis by 81.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,181 shares of the biotechnology company's stock valued at $1,592,000 after purchasing an additional 19,407 shares during the period. Goldman Sachs Group Inc. grew its holdings in Exelixis by 4.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company's stock valued at $54,153,000 after purchasing an additional 68,133 shares during the period. Focus Partners Wealth grew its holdings in Exelixis by 83.4% in the first quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company's stock valued at $1,420,000 after purchasing an additional 17,483 shares during the period. Geneos Wealth Management Inc. grew its holdings in Exelixis by 134.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company's stock valued at $61,000 after purchasing an additional 944 shares during the period. Finally, Sivia Capital Partners LLC grew its holdings in Exelixis by 23.8% in the second quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company's stock valued at $633,000 after purchasing an additional 2,764 shares during the period. Institutional investors and hedge funds own 85.27% of the company's stock.

Trending Headlines about Exelixis

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. Zacks Research estimate update
• 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.

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