Zacks Research Expects Reduced Earnings for Exelixis

Exelixis, Inc. (NASDAQ:EXEL) – Zacks Research cut their FY2027 EPS estimates for Exelixis in a research note issued to investors on Thursday, October 8th. Zacks Research analyst Team now expects that the biotechnology company will post earnings of $3.56 per share for the year, down from their previous 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.

EXEL has been the topic of a number of other research reports. Leerink Partners cut shares of Exelixis from an “outperform” rating to a “market perform” rating and set a $52.00 target price on the stock. in a report on Thursday, August 6th. Citigroup restated a “market outperform” rating on shares of Exelixis in a research note on Monday, September 14th. Citizens Jmp upped their target price on Exelixis from $50.00 to $55.00 and gave the company a “market outperform” rating in a report on Wednesday, June 24th. William Blair reaffirmed an “outperform” rating on shares of Exelixis in a report on Friday, September 11th. Finally, HC Wainwright reiterated a “buy” rating and set a $56.00 price target on shares of Exelixis in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $50.79.

Exelixis Stock Down 0.5%

Shares of NASDAQ:EXEL opened at $59.51 on Monday. The company has a market cap of $14.75 billion, a PE ratio of 18.71, a P/E/G ratio of 1.68 and a beta of 0.47. Exelixis has a fifty-two week low of $33.76 and a fifty-two week high of $61.66. The firm has a 50-day simple moving average of $56.43 and a 200 day simple moving average of $52.53.

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

Hedge Funds Weigh In On Exelixis

Institutional investors have recently modified their holdings of the company. Private Client Services LLC increased its holdings in shares of Exelixis by 0.7% in the third quarter. Private Client Services LLC now owns 28,539 shares of the biotechnology company’s stock valued at $1,667,000 after purchasing an additional 209 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Exelixis by 0.5% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 59,420 shares of the biotechnology company’s stock worth $2,549,000 after purchasing an additional 281 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its position in Exelixis by 3.8% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 9,077 shares of the biotechnology company’s stock worth $389,000 after purchasing an additional 333 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in Exelixis by 2.8% in the 1st quarter. Chicago Partners Investment Group LLC now owns 16,204 shares of the biotechnology company’s stock worth $759,000 after purchasing an additional 442 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in Exelixis by 4.7% during the 2nd quarter. Allworth Financial LP now owns 10,562 shares of the biotechnology company’s stock worth $575,000 after buying an additional 478 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Insider Transactions at Exelixis

In other Exelixis news, Director Mary Beckerle sold 9,812 shares of the firm’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 directly owned 16,079 shares in the company, valued at approximately $862,799.14. This trade represents a 37.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.60% of the company’s stock.

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.