Exelixis FY2028 Earnings Forecast Boosted by Zacks Research

Exelixis, Inc. (NASDAQ:EXEL) – Equities researchers at Zacks Research increased their FY2028 earnings estimates for shares of Exelixis in a research note issued on Thursday, October 8th. Zacks Research analyst Team now anticipates that the biotechnology company will earn $4.22 per share for the year, up from their prior forecast of $4.21. Zacks Research has a “Hold” rating on the stock. The consensus estimate for Exelixis’ current full-year earnings is $3.19 per share.

EXEL has been the subject of several other reports. BMO Capital Markets started coverage on Exelixis in a report on Tuesday, August 18th. They issued a “market perform” rating and a $54.00 target price for the company. Barclays lifted their price objective on Exelixis from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Tuesday, July 14th. Stifel Nicolaus upped their price objective on shares of Exelixis from $47.00 to $51.00 and gave the stock a “hold” rating in a research note on Thursday, August 6th. Wall Street Zen cut shares of Exelixis from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Finally, William Blair reissued an “outperform” rating on shares of Exelixis in a research report on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Exelixis currently has a consensus rating of “Hold” and a consensus price target of $50.36.

Exelixis Stock Up 1.0%

Shares of NASDAQ:EXEL opened at $59.02 on Friday. The business’s 50 day moving average is $56.13 and its 200 day moving average is $52.15. The stock has a market cap of $14.62 billion, a P/E ratio of 18.56, a price-to-earnings-growth ratio of 1.74 and a beta of 0.47. Exelixis has a 52-week low of $33.76 and a 52-week high of $61.14.

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

Institutional Investors Weigh In On Exelixis

A number of institutional investors have recently added to or reduced their stakes in EXEL. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Exelixis during the first quarter valued at about $27,000. Western Wealth Management LLC purchased a new position in shares of Exelixis in the 1st quarter worth approximately $29,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Exelixis during the 2nd quarter worth approximately $46,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Exelixis during the 2nd quarter worth approximately $57,000. Finally, Continuum Advisory LLC purchased a new stake in Exelixis during the second quarter valued at approximately $76,000. Institutional investors own 85.27% of the company’s stock.

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 completion of the transaction, the director directly 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 legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.60% of the company’s stock.

More Exelixis News

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Zacks slightly raises long-term earnings forecast: Zacks Research increased its FY2028 EPS estimate for Exelixis to $4.22 from $4.21. Although the adjustment is modest and the firm maintains a “Hold” rating, the revision indicates stable expectations for future profitability. Zacks Research earnings estimate update
• Positive Sentiment: Some valuation commentary remains favorable: Coverage highlighted Exelixis as a potential value stock, while another analysis suggested the shares may be undervalued as investors focus on earnings and the company’s continued growth. Exelixis’ latest quarterly results showed earnings above expectations and revenue growth of 10.6% year over year. Zacks value stock analysis Exelixis may be undervalued analysis
• Neutral Sentiment: Truist raises its target but remains cautious: Truist Financial lifted its price target from $52 to $54 while retaining a “Hold” rating. The increase is supportive, but the new target still implies approximately 8.5% downside from the referenced share price. Truist raises Exelixis price target
• Negative Sentiment: RBC cuts its price target: Royal Bank of Canada reduced its target to $45 from $46 and kept a “Sector Perform” rating. The target implies roughly 23.8% downside, reinforcing concerns that the shares may be fully valued at current levels. RBC cuts Exelixis price target
• Negative Sentiment: Cabozantinib patent timing remains an overhang: Investors are assessing whether Exelixis’ valuation fully reflects the remaining patent protection for its key cancer drug, cabozantinib. Potential future patent-related erosion could limit upside and is contributing to caution around the stock. Exelixis cabozantinib patent analysis

About Exelixis

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.