Exelixis gains after Q3 beat and fresh price-target hike

Exelixis (EXEL) is up 4.8% today. Here is some analysis on what might have caused this price movement. ([ir.exelixis.com](https://ir.exelixis.com/news-releases/news-release-details/exelixis-announces-third-quarter-2026-financial-results-and?utm_source=openai))

Analysis: The move appears tied mainly to a solid third-quarter report that beat Wall Street expectations on both earnings and revenue, helped by continued strength in the CABOMETYX franchise. Sentiment also may have been supported by at least one same-day price-target increase after the results, reinforcing the view that investors saw the quarter as better than expected. ([google.com](https://www.google.com/finance/beta/quote/EXEL%3ANASDAQ?hl=en&utm_source=openai))

Details:

Third-quarter normalized EPS came in at $0.94, above the consensus estimate, while revenue of about $658.7 million also topped expectations. ([google.com](https://www.google.com/finance/beta/quote/EXEL%3ANASDAQ?hl=en&utm_source=openai))

CABOMETYX U.S. net product revenue reached about $605 million in the quarter, with franchise growth of roughly 11% year over year, suggesting the core business remained strong. ([investing.com](https://www.investing.com/news/transcripts/earnings-call-transcript-exelixis-tops-q3-2026-estimates-as-stock-slips-93CH-4985468?utm_source=openai))

The company also repurchased about $250 million of stock during the quarter and ended the period with roughly $1.4 billion in cash and marketable securities, which may have added support to the bullish reaction. ([investing.com](https://www.investing.com/news/transcripts/earnings-call-transcript-exelixis-tops-q3-2026-estimates-as-stock-slips-93CH-4985468?utm_source=openai))

After the earnings release, Morgan Stanley raised its price target on EXEL to $60 from $53 while keeping an Equalweight rating, giving investors another positive data point on the day. ([streetinsider.com](https://www.streetinsider.com/Analyst%2BPT%2BChange/Exelixis%2B%28EXEL%29%2BPT%2BRaised%2Bto%2B%2460%2Bat%2BMorgan%2BStanley/27262423.html))

Sources:

Exelixis Investor Relations, Google Finance, StreetInsider

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$EXEL Insider Trading Activity

$EXEL insiders have traded $EXEL stock on the open market 6 times in the past 6 months. Of those trades, 0 have been purchases and 6 have been sales.

Here’s a breakdown of recent trading of $EXEL stock by insiders over the last 6 months:

DANA AFTAB (EVP, Research and Development) sold 43,451 shares for an estimated $2,187,757
CHRISTOPHER J. SENNER (EVP and CFO) sold 34,901 shares for an estimated $1,745,050
MARY C BECKERLE sold 9,812 shares for an estimated $526,511
SUE GAIL ECKHARDT sold 9,812 shares for an estimated $491,973
BRENDA HEFTI (SVP and General Counsel) sold 6,625 shares for an estimated $332,641
JACK L WYSZOMIERSKI sold 3,925 shares for an estimated $198,408

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$EXEL Hedge Fund Activity

We have seen 390 institutional investors add shares of $EXEL stock to their portfolio, and 340 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

D. E. SHAW & CO., INC. added 3,691,742 shares (+198.5%) to their portfolio in Q2 2026, for an estimated $200,867,682
SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 2,261,816 shares (+inf%) to their portfolio in Q2 2026, for an estimated $123,065,408
AQR CAPITAL MANAGEMENT LLC removed 2,071,798 shares (-15.8%) from their portfolio in Q2 2026, for an estimated $112,726,529
TWO SIGMA INVESTMENTS, LP added 2,003,649 shares (+90.8%) to their portfolio in Q2 2026, for an estimated $109,018,542
BLACKROCK, INC. removed 1,740,932 shares (-5.6%) from their portfolio in Q2 2026, for an estimated $94,724,110
JPMORGAN CHASE & CO added 1,298,907 shares (+inf%) to their portfolio in Q2 2026, for an estimated $70,673,529
FMR LLC removed 1,178,477 shares (-50.7%) from their portfolio in Q2 2026, for an estimated $64,120,933

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$EXEL Price Targets

Multiple analysts have issued price targets for $EXEL recently. We have seen 9 analysts offer price targets for $EXEL in the last 6 months, with a median target of $52.0.

Here are some recent targets:

Gregory Renza from Truist Securities set a target price of $56.0 on 07/07/2026
Leonid Timashev from RBC Capital set a target price of $46.0 on 07/07/2026
Robert Burns from HC Wainwright & Co. set a target price of $56.0 on 07/02/2026
Ashwani Verma from UBS set a target price of $52.0 on 07/02/2026
Silvan Turkcan from Citizens set a target price of $55.0 on 06/24/2026
Eva Fortea Verdejo from Wells Fargo set a target price of $40.0 on 05/06/2026
Sean Laaman from Morgan Stanley set a target price of $50.0 on 05/06/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.