Exelixis (EXEL) AI Stock Analysis

• Market Cap: $10.89B
• Dividend Yield: N/A
• Average Volume (3M): 2.43M
• Price to Earnings (P/E): 19.4
• Beta (1Y): 0.88
• Revenue Growth: 10.73%
• EPS Growth: 81.66%
• Country: US
• Employees: 1,147
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): 0.75
• Shares Outstanding: 269,202,500
• 10 Day Avg. Volume: 2,298,812
• 30 Day Avg. Volume: 2,425,004
• PEG Ratio: 0.11
• Price to Book (P/B): 4.39
• Price to Sales (P/S): 4.54
• P/FCF Ratio: 15.55
• Enterprise Value/Market Cap: 1.15
• Enterprise Value/Revenue: 5.61
• Enterprise Value/Gross Profit: 5.81
• Enterprise Value/Ebitda: 15.67
• 1Y Price Target: $45.44
• Price Target Upside: 12.34% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 20

• Rating: 77 Outperform
• Price Target: $44.00 ▲(8.78% Upside)

Exelixis's strong financial performance and positive earnings call sentiment are the primary drivers of its stock score. While technical indicators suggest caution, the company's strategic advancements and robust revenue growth support a favorable outlook.

Positive Factors

Revenue Growth

The 19% YoY growth in cabozantinib revenues indicates strong market demand and effective commercialization strategies, supporting long-term revenue expansion.

Financial Strength

Robust net income and substantial cash reserves enhance Exelixis's ability to invest in R&D and withstand market fluctuations, ensuring financial stability.

Positive Clinical Trial Results

Positive trial results for zanzalintinib enhance Exelixis's oncology pipeline, potentially leading to new product approvals and expanded market presence.

Negative Factors

Declining Cash Reserves

Declining cash reserves may limit Exelixis's ability to fund new projects or manage unforeseen expenses, impacting long-term operational flexibility.

Higher Gross to Net Deductions

Increased deductions reduce net revenue, potentially affecting profitability and cash flow, challenging Exelixis's margin sustainability over time.

Trial Discontinuation

Discontinuation of the STELLAR-305 trial limits Exelixis's pipeline diversification, potentially affecting future growth and market competitiveness.

Exelixis Business Overview & Revenue Model

Company Description

Exelixis, Inc., an oncology-focused biotechnology company, focuses on the discovery, development, and commercialization of new medicines to treat cancers in the United States. The company's products include CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of patients with progressive and metastatic medullary thyroid cancer. Its CABOMETYX and COMETRIQ are derived from cabozantinib, an inhibitor of multiple tyrosine kinases, including MET, AXL, RET, and VEGF receptors. The company also offers COTELLIC, an inhibitor of MEK as a combination regimen to treat advanced melanoma; and MINNEBRO, an oral non-steroidal selective blocker of the mineralocorticoid receptor for the treatment of hypertension in Japan. In addition, it is developing XL092, an oral tyrosine kinase inhibitor that targets VEGF receptors, MET, AXL, MER, and other kinases implicated in growth and spread of cancer; XB002, an antibody-drug conjugate composed of human mAb against tissue factor (TF) for the treatment of advanced solid tumors; XL102, an orally bioavailable cyclin-dependent kinase 7 (CDK7) inhibitor for the treatment of advanced or metastatic solid tumors; and XB002 for the treatment of non-hodgkin's lymphoma. Exelixis, Inc. has research collaborations and license agreements with Ipsen Pharma SAS; Takeda Pharmaceutical Company Ltd.; F. Hoffmann-La Roche Ltd.; Redwood Bioscience, Inc.; R.P. Scherer Technologies, LLC; Catalent Pharma Solutions, Inc.; NBE Therapeutics AG; Aurigene Discovery Technologies Limited; Iconic Therapeutics, Inc.; Invenra, Inc.; StemSynergy Therapeutics, Inc.; Genentech, Inc.; Bristol-Myers Squibb Company; and Daiichi Sankyo Company, Limited. The company was formerly known as Exelixis Pharmaceuticals, Inc. and changed its name to Exelixis, Inc. in February 2000. Exelixis, Inc. was incorporated in 1994 and is headquartered in Alameda, California.

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 health with robust revenue and profit growth, efficient cost management, and strong cash flow generation. The balance sheet reflects stability with low leverage and solid equity. However, declining cash reserves pose a minor risk.

Income Statement

Exelixis demonstrates strong income statement performance with consistent growth in revenue, reflected in a TTM revenue of $2.23 billion, a significant increase from prior periods. The company's gross profit margin remains robust, with a TTM margin of approximately 96.6%, indicating efficient cost management. The net profit margin has improved to 27.0% in the TTM period, showcasing enhanced profitability. EBIT and EBITDA margins have also increased, underscoring operational efficiency. Overall, the company shows strong revenue and profit growth, with efficient cost control contributing to improved profitability.

Balance Sheet

The balance sheet reflects a solid financial position, with stockholders' equity accounting for approximately 75.9% of total assets in the TTM period. The debt-to-equity ratio remains low at 0.09, indicating manageable leverage. Return on equity is strong at 29.6%, reflecting efficient use of shareholder funds. While the equity ratio suggests financial stability, the decrease in cash and short-term investments could pose a potential risk if it affects liquidity in the future.

Cash Flow

Exelixis displays strong cash flow management with an improvement in free cash flow, growing by 18.2% from the previous annual period to $748.9 million in the TTM. The operating cash flow to net income ratio of 1.28 indicates good cash generation from operations relative to net income. The free cash flow to net income ratio also supports the company's ability to convert earnings into cash. Despite high financing cash outflows, the overall cash flow position remains strong, supporting further growth and investment.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.23B	2.17B	1.83B	1.61B	1.43B	987.54M
Gross Profit	2.15B	2.09B	1.76B	1.55B	1.38B	951.27M
EBITDA	798.36M	718.75M	196.60M	222.36M	300.30M	119.20M
Net Income	602.30M	521.27M	207.76M	182.28M	231.06M	111.78M
Balance Sheet
Total Assets	2.68B	2.95B	2.94B	3.07B	2.62B	2.14B
Cash, Cash Equivalents and Short-Term Investments	791.10M	1.11B	995.30M	1.31B	1.47B	1.21B
Total Debt	179.84M	215.83M	189.94M	190.17M	51.27M	49.09M
Total Liabilities	644.54M	703.49M	678.45M	583.06M	405.62M	258.22M
Stockholders Equity	2.03B	2.24B	2.26B	2.49B	2.21B	1.88B
Cash Flow
Free Cash Flow	748.86M	633.79M	170.35M	224.16M	336.58M	178.64M
Operating Cash Flow	772.03M	699.97M	333.32M	362.61M	400.80M	208.98M
Investing Cash Flow	-12.55M	-116.78M	-26.95M	-524.41M	-42.88M	-131.22M
Financing Cash Flow	-793.50M	-628.81M	-546.05M	586.00K	-14.80M	-25.13M

Exelixis Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 40.45
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

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 40.45 is above the 20-day moving average (MA) of 38.26, above the 50-day MA of 39.84, and above the 200-day MA of 38.15, indicating a bullish trend. The MACD of 0.05 indicates Negative momentum. The RSI at 62.26 is Neutral, neither overbought nor oversold. The STOCH value of 88.70 is Negative, 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	16.56B	19.55	20.88%	―	18.87%	1088.27%
HALO	79 Outperform	8.87B	17.52	167.48%	―	34.97%	71.10%
EXEL	77 Outperform	$10.89B	19.40	29.00%	―	10.73%	81.66%
BMRN	76 Outperform	10.44B	16.33	10.90%	―	17.38%	153.58%
ASND	61 Neutral	12.09B	-40.13	357.68%	―	55.77%	46.81%
BBIO	58 Neutral	9.78B	-13.03	43.43%	―	7.62%	-55.29%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Exelixis Corporate Events

Exelixis Announces New Executive VP for R&D

On August 29, 2025, Exelixis, Inc. announced a significant leadership change as Dana T. Aftab, Ph.D., was appointed as Executive Vice President, Research and Development, succeeding Amy C. Peterson, M.D., who concluded her service as Executive Vice President, Product Development and Medical Affairs and Chief Medical Officer. This transition may impact the company’s strategic direction in research and development, potentially influencing its market positioning and stakeholder interests.

The most recent analyst rating on (EXEL) stock is a Buy with a $43.00 price target. To see the full list of analyst forecasts on Exelixis stock, see the EXEL Stock Forecast page.