Exelixis (EXEL) AI Stock Analysis

• Market Cap: $10.32B
• Dividend Yield: N/A
• Average Volume (3M): 3.29M
• Price to Earnings (P/E): 18.4
• Beta (1Y): 0.89
• Revenue Growth: 10.73%
• EPS Growth: 81.66%
• Country: US
• Employees: 1,147
• Sector: Healthcare
• Sector Strength: 47
• Industry: Biotechnology
• EPS (TTM): 0.75
• Shares Outstanding: 269,202,500
• 10 Day Avg. Volume: 2,084,248
• 30 Day Avg. Volume: 3,291,572
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 1.16
• Enterprise Value/Revenue: 5.35
• Enterprise Value/Gross Profit: 5.54
• Enterprise Value/Ebitda: 14.93
• 1Y Price Target: $44.27
• Price Target Upside: 14.96% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 17

• Rating: 78 Outperform
• Price Target: $44.00 ▲(14.26% Upside)

Exelixis's strong financial performance and positive earnings call sentiment are the primary drivers of its overall score. Technical analysis and valuation present some cautionary signals, but the company's strategic advancements and robust revenue growth support a favorable outlook.

Positive Factors

Drug Approval

The probability of approval for the combination of zanzalintinib and Tecentriq has been increased to 80% from a prior estimate of 40%.

Financial Performance

Exelixis recorded a higher diluted net income per share than previously forecasted, indicating better-than-expected profitability.

Market Position

Cabo has already achieved 35% new patient market share for 2L+ oral therapies, indicating strong market penetration.

Negative Factors

Clinical Trials

The decision not to proceed with the Phase 3 portion of the STELLAR-305 trial resulted in the removal of risk-adjusted revenue projections for zanzalintinib in SCCHN.

Investor Confidence

Investors are less confident in zanza's potential due to the 'no-go' decision in HNSCC, and the cabo performance coming in below expectations.

Revenue Performance

Q2 revenues of $568M missed the consensus estimate of $578M.

Exelixis Business Overview & Revenue Model

Company Description

Exelixis, Inc. is a biotechnology company focused on the development and commercialization of innovative therapies for cancer treatment. Headquartered in Alameda, California, Exelixis is primarily involved in the oncology sector, offering a range of products designed to improve the lives of patients with various types of cancer. The company’s core product is cabozantinib, marketed under the brand names Cometriq and Cabometyx, which is used for the treatment of multiple cancer indications, including renal cell carcinoma and hepatocellular carcinoma.

How the Company Makes Money

Exelixis generates revenue through the sale of its pharmaceutical products, particularly cabozantinib, which is a key driver of their earnings. The company also earns revenue from collaboration agreements and licensing deals with other pharmaceutical companies, which may include upfront payments, milestone payments, and royalties on sales of partnered products. Exelixis has formed strategic partnerships with a number of organizations to enhance its research capabilities and expand its market reach, thus contributing to its financial performance. Additionally, the company may receive funding from grants or governmental programs aimed at cancer research and development.

Exelixis Financial Statement Overview

Summary

Exelixis demonstrates strong financial performance with significant revenue growth, robust profitability margins, and effective cash generation. The balance sheet is healthy with low leverage, although there's a slight decline in stockholders' equity.

Income Statement

Exelixis demonstrates strong revenue growth, with a TTM revenue increase of 6% over the previous year. The company maintains high gross and net profit margins at 96.8% and 28.0% respectively for TTM, reflecting efficient cost management. Additionally, the EBIT and EBITDA margins are robust at 33.1% and 36.7%, indicating solid operational performance.

Balance Sheet

The balance sheet is strong, with a low debt-to-equity ratio of 0.09, suggesting conservative leverage levels. The equity ratio is a healthy 75.1%, showcasing a solid financial foundation. However, stockholders' equity has seen a slight decline over the past year, necessitating monitoring.

Cash Flow

Operating cash flow is robust, with a TTM to net income ratio of 1.31, indicating effective cash generation relative to earnings. Free cash flow has grown significantly by 28.3% from the previous period, supporting financial flexibility and potential reinvestment.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.17B	1.83B	1.61B	1.43B	987.54M
Gross Profit	2.09B	1.76B	1.55B	1.38B	951.27M
EBITDA	718.75M	196.60M	222.36M	300.30M	119.20M
Net Income	521.27M	207.76M	182.28M	231.06M	111.78M
Balance Sheet
Total Assets	2.95B	2.94B	3.07B	2.62B	2.14B
Cash, Cash Equivalents and Short-Term Investments	1.11B	995.30M	1.31B	1.47B	1.21B
Total Debt	215.83M	189.94M	190.17M	51.27M	49.09M
Total Liabilities	703.49M	678.45M	583.06M	405.62M	258.22M
Stockholders Equity	2.24B	2.26B	2.49B	2.21B	1.88B
Cash Flow
Free Cash Flow	633.79M	170.35M	224.16M	336.58M	178.64M
Operating Cash Flow	699.97M	333.32M	362.61M	400.80M	208.98M
Investing Cash Flow	-116.78M	-26.95M	-524.41M	-42.88M	-131.22M
Financing Cash Flow	-628.81M	-546.05M	586.00K	-14.80M	-25.13M

Exelixis Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 38.51
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EXEL, the sentiment is Positive. The current price of 38.51 is above the 20-day moving average (MA) of 37.82, below the 50-day MA of 41.29, and above the 200-day MA of 37.95, indicating a neutral trend. The MACD of -0.80 indicates Negative momentum. The RSI at 45.62 is Neutral, neither overbought nor oversold. The STOCH value of 56.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for EXEL.

Exelixis Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INCY	80 Outperform	$16.40B	19.10	24.30%	―	18.87%	1088.27%
HALO	79 Outperform	$8.53B	16.66	179.14%	―	34.97%	71.10%
EXEL	78 Outperform	$10.32B	18.39	29.00%	―	10.73%	81.66%
BMRN	78 Outperform	$11.03B	17.02	11.62%	―	17.38%	153.58%
CORT	73 Outperform	$7.33B	61.91	21.42%	―	25.71%	4.48%
ASND	61 Neutral	$11.91B	―	357.68%	―	55.77%	46.81%
Sector *	51 Neutral	$7.83B	-0.18	-40.10%	2.29%	21.46%	-2.03%

Exelixis Corporate Events

Exelixis Holds Annual Meeting, Elects New Directors

On May 28, 2025, Exelixis held its Annual Meeting via live webcast, where stockholders elected 11 directors to serve until the next annual meeting in 2026. Additionally, stockholders ratified Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending January 2, 2026, and approved the executive compensation proposal.