Exelixis (EXEL) AI Stock Analysis

• Market Cap: $11.15B
• Dividend Yield: N/A
• Average Volume (3M): 2.62M
• Price to Earnings (P/E): 17.7
• Beta (1Y): 0.90
• Revenue Growth: 9.93%
• EPS Growth: 54.33%
• Country: US
• Employees: 1,147
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): 0.78
• Shares Outstanding: 268,112,150
• 10 Day Avg. Volume: 2,742,236
• 30 Day Avg. Volume: 2,622,269
• 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: 0.93
• Enterprise Value/Revenue: 4.53
• Enterprise Value/Gross Profit: 4.68
• Enterprise Value/Ebitda: 12.00
• 1Y Price Target: $43.80
• Price Target Upside: 4.29% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 16
• EPS Forecast (FY): 2.9
• Revenue Forecast (FY): $2.33B

• Rating: 78 Outperform
• Price Target: $48.00 ▲(14.29% Upside)

Exelixis's strong financial performance and positive earnings call sentiment are the most significant factors driving the score. The company's robust profitability, strategic pipeline advancements, and reasonable valuation support a favorable outlook. Technical indicators suggest positive momentum, although valuation metrics are moderate.

Positive Factors

Revenue Growth

The strong revenue growth driven by the cabozantinib franchise indicates robust demand and successful market penetration, supporting long-term financial stability.

Pipeline Advancements

Successful clinical trials like STELLAR-303 enhance Exelixis's pipeline, potentially leading to new product approvals and revenue streams.

Balance Sheet Health

A low debt-to-equity ratio reflects financial prudence, providing Exelixis with flexibility to invest in R&D and withstand economic fluctuations.

Negative Factors

Restructuring Charges

Restructuring charges increase short-term expenses and may indicate underlying operational challenges, potentially impacting profitability.

Regulatory Delays

Regulatory delays can postpone product launches and revenue realization, affecting Exelixis's growth trajectory and competitive position.

Leadership Transition

Leadership changes can lead to strategic shifts and potential disruptions, impacting company stability and execution of long-term plans.

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 primarily through the sales of its flagship product, cabozantinib, which contributes significantly to its overall earnings. The company also engages in collaborations and licensing agreements with other pharmaceutical companies, which provide additional revenue streams through upfront payments, milestone payments, and royalties on product sales. These partnerships often focus on the development and commercialization of new therapeutic candidates, enhancing Exelixis's financial stability and growth potential. Additionally, Exelixis invests in research and development, aiming to expand its portfolio of oncology therapies, which could lead to further monetization opportunities in the future.

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. While there are small risks associated with declining cash reserves, the company's overall financial position supports its growth trajectory in the biotechnology industry.

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	2.29B	2.17B	1.83B	1.61B	1.43B	987.54M
Gross Profit	2.21B	2.09B	1.76B	1.55B	1.38B	951.27M
EBITDA	862.90M	718.75M	196.60M	222.36M	300.30M	119.20M
Net Income	677.90M	521.27M	207.76M	182.28M	231.06M	111.78M
Balance Sheet
Total Assets	2.82B	2.95B	2.94B	3.07B	2.62B	2.14B
Cash, Cash Equivalents and Short-Term Investments	988.53M	1.11B	995.30M	1.31B	1.47B	1.21B
Total Debt	176.46M	190.82M	189.94M	190.17M	51.27M	49.09M
Total Liabilities	662.85M	703.49M	678.45M	583.06M	405.62M	258.22M
Stockholders Equity	2.16B	2.24B	2.26B	2.49B	2.21B	1.88B
Cash Flow
Free Cash Flow	753.10M	633.79M	170.35M	224.16M	336.58M	178.64M
Operating Cash Flow	791.01M	699.97M	333.32M	362.61M	400.80M	208.98M
Investing Cash Flow	230.00M	-116.78M	-26.95M	-524.41M	-42.88M	-131.22M
Financing Cash Flow	-903.06M	-628.81M	-546.05M	586.00K	-14.80M	-25.13M

Exelixis Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 42.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• 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 42 is below the 20-day moving average (MA) of 42.61, above the 50-day MA of 40.79, and above the 200-day MA of 40.01, indicating a neutral trend. The MACD of 0.08 indicates Positive momentum. The RSI at 50.43 is Neutral, neither overbought nor oversold. The STOCH value of 24.76 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	81 Outperform	$19.05B	16.38	30.39%	―	18.09%	3563.21%
EXEL	78 Outperform	$11.15B	17.68	30.56%	―	9.93%	54.33%
BMRN	77 Outperform	$9.95B	19.41	9.07%	―	12.31%	60.21%
HALO	73 Outperform	$7.58B	13.82	124.50%	―	31.19%	59.01%
BBIO	59 Neutral	$14.59B	-17.68	―	―	62.46%	-73.59%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
ASND	46 Neutral	$12.96B	-47.75	―	―	103.32%	47.55%

Exelixis Corporate Events

Exelixis Announces Leadership Transition with New General Counsel

On November 4, 2025, Exelixis announced the resignation of Jeffrey Hessekiel, J.D., its Executive Vice President and General Counsel, effective in November 2025. Brenda Hefti, J.D., Ph.D., will be promoted to General Counsel, effective November 7, 2025, marking a significant leadership transition within the company.

Exelixis Announces $750 Million Stock Repurchase Program

On November 4, 2025, Exelixis announced a stock repurchase program of up to $750 million to be completed by the end of 2026. The company reported strong financial results for the third quarter of 2025, with total revenues of $597.8 million and significant growth in its cabozantinib franchise. Exelixis also highlighted progress in its clinical trials and pipeline development, including positive results from the STELLAR-303 trial. The company is undergoing a corporate reorganization plan, which includes workforce changes and office closures, expected to be completed by the end of 2025.