Exelixis (EXEL -1.19%) has crushed the broader market this year, with its shares climbing 49%. However, the drugmaker recently hit a roadblock. The U.S. Food and Drug Administration (FDA) decided to extend the review period for Exelixis' zanzalintinib, an investigational medicine for colorectal cancer. The health regulatory agency requested more data before it can decide whether to approve the drug. A decision is now expected by March 3, 2027, pushed back from the original deadline of Dec. 3, 2026. That's not great news for Exelixis, but despite this setback, the company's prospects look attractive. Here are three reasons why.
Image source: The Motley Fool.
1. Winning the Cabometyx patent battle Exelixis' most important driver of revenue and earnings growth is Cabometyx, a medicine approved for various cancers, including liver and kidney cancers. Cabometyx is a tyrosine kinase inhibitor -- tyrosine kinase is a protein that plays a role in cell growth and division, a mechanism that is sometimes hijacked by cancer cells to promote rapid growth. Cabometyx has been one of the top-prescribed medicines of its kind in renal cell carcinoma (RCC, the most common form of kidney cancer) for years.
It has also continued to grind out new indications, including as a combination therapy. Exelixis' financial results have been strong thanks to this drug. In the second quarter, the company's revenue increased by 10.6% year over year to $628.7 million. Exelixis' earnings per share grew by about 26% year over year to $0.82.
Exelixis has done its best to delay the entry of cheaper Cabometyx generics in the U.S., and so far, it has been successful. Thanks to a patent lawsuit it won, it should not face generic competition in the U.S. at least until January 2030, perhaps even later if the company wins another patent case that starts in November. That should give Exelixis enough time to develop newer medicines to replace its crown jewel.
EXEL Exelixis$64.53-$0.78 (-1.19%)
NASDAQ · As of 4:00 PM ET 10/23/26
2. Zanzalintinib could be a pipeline-in-a-drug The most promising drug Exelixis is developing is zanzalintinib, and that's despite the recent regulatory setback. Consider the medicine's potential in colorectal cancer. It is the second leading cause of cancer death worldwide, which implies that there is a large opportunity in the market, particularly for the indication Exelixis is targeting: once it has metastasized. Further, Exelixis won't stop at this indication.
The biotech company will seek to follow the same blueprint it used for Cabometyx. Exelixis is testing zanzalintinib across several other forms of cancer. The list includes RCC, some kinds of lung cancer, and more. Of course, zanzalintinib won't earn every indication it targets. Cabometyx didn't either. But even a handful or so could make the medicine a massive commercial success and help usher in the next phase of growth for Exelixis.
Some analysts have estimated that zanzalintinib could generate $4.5 billion in U.S. sales by 2033 across various indications. Note that last year, the company made $2.3 billion in revenue, mostly from Cabometyx. Provided the sales estimates for zanzalintinib are accurate, this drug could eventually more than offset the loss of Cabometyx.
3. Exelixis' deep pipeline Even if zanzalintinib alone isn't enough to replace Cabometyx once the latter starts facing generic competition, Exelixis has a plan. The company boasts several other pipeline candidates that could eventually contribute. Although these are mostly still in early stage studies, they could make significant progress over the next five years. Most early stage candidates never make it to the market, but there is a decent chance that at least a couple of Exelixis' brand-new therapies will.
And even if none does, the company has research collaborations in place that could supply additional, oncology-focused drug candidates to its pipeline. Exelixis' ability to carve out a niche in the ruthlessly competitive oncology market, which is typically dominated by pharmaceutical giants, is fairly impressive. And over the medium term, the company could, once again, launch one or two brand-new cancer drugs that will help it sustain strong financial results and deliver competitive stock market returns.
Shares of oncology company Exelixis, Inc. (EXEL) are higher by 177% since 2017.
EXEL discovers, develops, and commercializes new treatments for hard-to-treat cancers. Its second-quarter 2026 report showed $629 million in quarterly revenue ($573 million from its cabozantinib product (CABOMETYX) alone, a 10% year-over-year rise), GAAP net income of $212 million ($0.82 per diluted share), $1.4 billion in cash, and $312 million in repurchases last quarter. The company reports again on Oct. 29.
It’s no wonder EXEL shares are up 42% so far this year – and they could rise more. MoneyFlows data shows how Big Money investors are betting heavily on the forward picture of the stock.
Exelixis, a Big Money Buy Institutional volumes reveal plenty. In the last year, EXEL has enjoyed strong investor demand, which we believe to be institutional support.
Each green bar signals unusually large volumes in EXEL shares. They reflect our proprietary inflow signal, pushing the stock higher:
Institutional buying elevated EXEL shares by 42% so far in 2026 and 81% in a year. Source: www.moneyflows.com Plenty of health care names are under accumulation right now. But there’s a powerful fundamental story happening with Exelixis.
Exelixis Fundamental Analysis Institutional support and a healthy fundamental backdrop make this company worth investigating. As you can see, EXEL has had strong sales and earnings growth:
Also, EPS is estimated to ramp higher this year by +17.8%.
Now it makes sense why the stock has been generating Big Money interest. EXEL has a track record of strong financial performance.
Marrying great fundamentals with our proprietary software has found some big winning stocks over the long term.
Exelixis has been a top-rated stock at MoneyFlows. That means the stock has unusual buy pressure and growing fundamentals. We have a ranking process that showcases stocks like this on a weekly basis.
It’s made the rare Outlier 20 report 34 times since 2017, rising 177% since the first outlier inflow signal. The blue bars below show when EXEL was a top pick in the last year…institutions love this stock:
Outlier inflows pushed EXEL higher, with 10 signals in the last year and 34 overall since 2017. Source: www.moneyflows.com Tracking unusual volumes reveals the power of money flows.
This is a trait that most outlier stocks exhibit…the best of the best. Big Money demand drives stocks upward.
Exelixis Price Prediction The EXEL action isn’t new at all. Big Money buying in the shares is signaling to take notice. Given the historical gains in share price and strong fundamentals, this stock could be worth a spot in a diversified portfolio.
Disclosure: the author holds no position in EXEL at the time of publication.
If you are a Registered Investment Advisor (RIA) or a serious investor, take your investing to the next level. MoneyFlows created 11 Frontiers indexes to help serious investors capture AI-driven themes and learn the leading stocks in each Frontier. Get started here.
Lucas is a well-versed equity investor and educator. He currently is co-founder of research and analytics firm, MAPsignals.com, which focuses on finding outlier stocks by following the Big Money.
Exelixis (EXEL - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 29. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis drug developer is expected to post quarterly earnings of $0.89 per share in its upcoming report, which represents a year-over-year change of +14.1%.
Revenues are expected to be $653.06 million, up 9.3% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Exelixis?For Exelixis, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +2.44%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination indicates that Exelixis will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Exelixis would post earnings of $0.86 per share when it actually produced earnings of $0.91, delivering a surprise of +5.81%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Exelixis appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Expected Results of an Industry PlayerAmong the stocks in the Zacks Medical - Biomedical and Genetics industry, Biogen Inc. (BIIB - Free Report) , is soon expected to post earnings of $2.08 per share for the quarter ended September 2026. This estimate indicates a year-over-year change of -56.8%. This quarter's revenue is expected to be $2.59 billion, up 2% from the year-ago quarter.
Over the last 30 days, the consensus EPS estimate for Biogen has been revised 1.8% down to the current level. Nevertheless, the company now has an Earnings ESP of 0.00%, reflecting an equal Most Accurate Estimate.
When combined with a Zacks Rank of #3 (Hold), this Earnings ESP makes it difficult to conclusively predict that Biogen will beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.82% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Exelixis (EXEL - Free Report) Alameda, CA-based Exelixis, Inc. is an oncology-focused biotechnology company that primarily focuses on the discovery, development and commercialization of new drugs for the treatment of difficult-to-treat cancers. The company is leveraging its investments, expertise and strategic partnerships to target an expanding range of tumor types and indications with its clinically differentiated pipeline of small molecules, antibody-drug conjugates (ADCs) and other biotherapeutics.
EXEL is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
Additionally, the company could be a top pick for growth investors. EXEL has a Growth Style Score of A, forecasting year-over-year earnings growth of 15.9% for the current fiscal year.
One analyst revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.01 to $3.57 per share. EXEL boasts an average earnings surprise of +14.7%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, EXEL should be on investors' short list.
Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Exelixis (EXEL - Free Report) , which belongs to the Zacks Medical - Biomedical and Genetics industry, could be a great candidate to consider.
This drug developer has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 10.91%.
For the last reported quarter, Exelixis came out with earnings of $0.91 per share versus the Zacks Consensus Estimate of $0.86 per share, representing a surprise of 5.81%. For the previous quarter, the company was expected to post earnings of $0.75 per share and it actually produced earnings of $0.87 per share, delivering a surprise of 16.00%.
Price and EPS Surprise
For Exelixis, estimates have been trending higher, thanks in part to this earnings surprise history. And when you look at the stock's positive Zacks Earnings ESP (Expected Surprise Prediction), it's a great indicator of a future earnings beat, especially when combined with its solid Zacks Rank.
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Exelixis has an Earnings ESP of +2.44% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #3 (Hold), it shows that another beat is possibly around the corner.
Investors should note, however, that a negative Earnings ESP reading is not indicative of an earnings miss, but a negative value does reduce the predictive power of this metric.
Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate.
Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
, /PRNewswire/ -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of EXELIXIS, Inc. (NASDAQ: EXEL) breached their fiduciary duties to shareholders. The investigation concerns potential self-dealing. Shareholders may be entitled to damages and corporate governance reforms.
If you are a long-term EXEL stockholder please contact Justin Kuehn, Esq. by email at [email protected] or call (833) 672-0814. The consultation and case are free with no obligation to you. Kuehn Law pays all case costs and does not charge its investor clients. Shareholders should contact the firm immediately as there may be limited time to enforce your rights.
Why Your Participation Matters:
As a shareholder your voice matters, and by getting involved, you contribute to the integrity and fairness of the financial markets. Your investment. Your voice. Your future.™
Kuehn Law Encourages Investors of EXELIXIS, Inc. to Contact Law FirmPR Newswire
NEW YORK, Oct. 12, 2026
, /PRNewswire/ -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of EXELIXIS, Inc. (NASDAQ: EXEL) breached their fiduciary duties to shareholders. The investigation concerns potential self-dealing. Shareholders may be entitled to damages and corporate governance reforms.
If you are a long-term EXEL stockholder please contact Justin Kuehn, Esq. by email at [email protected] or call (833) 672-0814. The consultation and case are free with no obligation to you. Kuehn Law pays all case costs and does not charge its investor clients. Shareholders should contact the firm immediately as there may be limited time to enforce your rights.
Why Your Participation Matters:
As a shareholder your voice matters, and by getting involved, you contribute to the integrity and fairness of the financial markets. Your investment. Your voice. Your future.™
Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts:
Kuehn Law, PLLC
Justin Kuehn, Esq.
53 Hill Street, Suite 605
Southampton, NY 11968
[email protected]
(833) 672-0814
View original content to download multimedia:https://www.prnewswire.com/news-releases/kuehn-law-encourages-investors-of-exelixis-inc-to-contact-law-firm-302906201.html
Shares of Exelixis, Inc. (NASDAQ:EXEL – Get Free Report) reached a new 52-week high during mid-day trading on Monday. The stock traded as high as $61.66 and last traded at $60.9990, with a volume of 463,577 shares changing hands. The stock had previously closed at $59.86.
Wall Street Analyst Weigh In Several analysts recently weighed in on the company. William Blair restated an “outperform” rating on shares of Exelixis in a research note on Friday, September 11th. Weiss Ratings raised Exelixis from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday. Citizens Jmp raised their price target on shares of Exelixis from $50.00 to $55.00 and gave the company a “market outperform” rating in a research report on Wednesday, June 24th. Wall Street Zen downgraded shares of Exelixis from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Wells Fargo & Company boosted their price objective on shares of Exelixis from $40.00 to $49.00 and gave the stock an “equal weight” rating in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $50.79.
View Our Latest Research Report on EXEL
Exelixis Stock Performance The stock has a market cap of $15.05 billion, a PE ratio of 19.10, a price-to-earnings-growth ratio of 1.78 and a beta of 0.47. The company’s 50-day moving average price is $56.26 and its 200 day moving average price is $52.28. Exelixis (NASDAQ:EXEL – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.06. The firm had revenue of $628.69 million for the quarter, compared to analysts’ expectations of $636.40 million. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.75 EPS. On average, sell-side analysts anticipate that Exelixis, Inc. will post 3.19 earnings per share for the current fiscal year.
Insider Buying and Selling at Exelixis In other news, Director Mary Beckerle sold 9,812 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $53.66, for a total transaction of $526,511.92. Following the completion of the sale, the director owned 16,079 shares of the company’s stock, valued at $862,799.14. The trade was a 37.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.60% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Exelixis Several hedge funds and other institutional investors have recently modified their holdings of EXEL. BlackRock Inc. bought a new position in shares of Exelixis in the second quarter worth about $1,581,991,000. Dimensional Fund Advisors LP grew its position in shares of Exelixis by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 4,299,597 shares of the biotechnology company’s stock worth $184,391,000 after purchasing an additional 39,920 shares in the last quarter. Assetmark Inc. raised its stake in Exelixis by 1.7% during the 1st quarter. Assetmark Inc. now owns 3,388,920 shares of the biotechnology company’s stock valued at $145,351,000 after purchasing an additional 58,149 shares during the period. First Trust Advisors LP raised its stake in Exelixis by 62.0% during the 1st quarter. First Trust Advisors LP now owns 2,534,992 shares of the biotechnology company’s stock valued at $108,726,000 after purchasing an additional 970,144 shares during the period. Finally, Bank of America Corp DE raised its stake in Exelixis by 30.7% during the 2nd quarter. Bank of America Corp DE now owns 2,149,397 shares of the biotechnology company’s stock valued at $116,949,000 after purchasing an additional 504,660 shares during the period. 85.27% of the stock is currently owned by hedge funds and other institutional investors.
About Exelixis (Get Free Report)
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.
Further Reading Five stocks we like better than Exelixis China Still Dominates Rare Earths—These 3 U.S. Companies Could Benefit 3 REITs That May Win in a Higher Interest Rate Environment Broadcom’s Anthropic Bet Gets Bigger as $60 Billion Financing Raises the Stakes Insider Buying Signals Opportunity in H.B. Fuller, FocalTherics, Cardinal Receive News & Ratings for Exelixis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exelixis and related companies with MarketBeat.com's FREE daily email newsletter.
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
Zacks Premium includes access to the Zacks Style Scores as well.
What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.86% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That's where the Style Scores come in.
You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Exelixis (EXEL - Free Report) Alameda, CA-based Exelixis, Inc. is an oncology-focused biotechnology company that primarily focuses on the discovery, development and commercialization of new drugs for the treatment of difficult-to-treat cancers. The company is leveraging its investments, expertise and strategic partnerships to target an expanding range of tumor types and indications with its clinically differentiated pipeline of small molecules, antibody-drug conjugates (ADCs) and other biotherapeutics.
EXEL is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 16.36; value investors should take notice.
One analyst revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.01 to $3.57 per share. EXEL boasts an average earnings surprise of +14.7%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, EXEL should be on investors' short list.
Big Money pushes Exelixis, Inc. (EXEL) shares higher by 149% since 2017.
EXEL is an oncology company that discovers, develops, and commercializes new treatments for hard-to-treat cancers. Its second-quarter 2026 report showed $629 million in quarterly revenue ($573 million from its cabozantinib product (CABOMETYX) alone, a 10% year-over-year rise), GAAP net income of $212 million ($0.82 per diluted share), $1.4 billion in cash, and $312 million in repurchases last quarter.
It’s no wonder EXEL shares are up 34% so far this year – and they could rise more. MoneyFlows data shows how Big Money investors are betting heavily on the forward picture of the stock.
Institutions Buy Up Exelixis Institutional volumes reveal plenty. In the last year, EXEL has enjoyed strong investor demand, which we believe to be institutional support.
Each green bar signals unusually large volumes in EXEL shares. They reflect our proprietary inflow signal, pushing the stock higher:
Institutional inflows have pushed EXEL shares up 34% so far in 2026 and 42% in a year. Source: www.moneyflows.com Plenty of health care names are under accumulation right now. But there’s a powerful fundamental story happening with Exelixis.
Exelixis Fundamental Analysis Institutional support and a healthy fundamental backdrop make this company worth investigating. As you can see, EXEL has had strong sales and earnings growth:
Also, EPS is estimated to ramp higher this year by +17.7%.
Now it makes sense why the stock has been generating Big Money interest. EXEL has a track record of strong financial performance.
Marrying great fundamentals with our proprietary software has found some big winning stocks over the long term.
Exelixis has been a top-rated stock at MoneyFlows. That means the stock has unusual buy pressure and growing fundamentals. We have a ranking process that showcases stocks like this on a weekly basis.
It’s made the rare Outlier 20 report 32 times since 2017, rising 149% since the first outlier inflow signal. The blue bars below show when EXEL was a top pick in the last year…institutions love this stock:
Shares of EXEL have seen eight outlier inflow signals in the past year and 32 overall since 2017. Source: www.moneyflows.com Tracking unusual volumes reveals the power of money flows.
This is a trait that most outlier stocks exhibit…the best of the best. Big Money demand drives stocks upward.
Exelixis Price Prediction The EXEL action isn’t new at all. Big Money buying in the shares is signaling to take notice. Given the historical gains in share price and strong fundamentals, this stock could be worth a spot in a diversified portfolio.
Disclosure: the author holds no position in EXEL at the time of publication.
If you are a Registered Investment Advisor (RIA) or a serious investor, take your investing to the next level. MoneyFlows created 11 Frontiers indexes to help serious investors capture AI-driven themes and learn the leading stocks in each Frontier. Get started here.
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
Zacks Premium also includes the Zacks Style Scores.
What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.8% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Exelixis (EXEL - Free Report) Alameda, CA-based Exelixis, Inc. is an oncology-focused biotechnology company that primarily focuses on the discovery, development and commercialization of new drugs for the treatment of difficult-to-treat cancers. The company is leveraging its investments, expertise and strategic partnerships to target an expanding range of tumor types and indications with its clinically differentiated pipeline of small molecules, antibody-drug conjugates (ADCs) and other biotherapeutics.
EXEL is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
Additionally, the company could be a top pick for growth investors. EXEL has a Growth Style Score of A, forecasting year-over-year earnings growth of 15.9% for the current fiscal year.
For fiscal 2026, three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.04 to $3.57 per share. EXEL boasts an average earnings surprise of +14.7%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, EXEL should be on investors' short list.
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.8% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Exelixis (EXEL - Free Report) Alameda, CA-based Exelixis, Inc. is an oncology-focused biotechnology company that primarily focuses on the discovery, development and commercialization of new drugs for the treatment of difficult-to-treat cancers. The company is leveraging its investments, expertise and strategic partnerships to target an expanding range of tumor types and indications with its clinically differentiated pipeline of small molecules, antibody-drug conjugates (ADCs) and other biotherapeutics.
EXEL is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
Momentum investors should take note of this Medical stock. EXEL has a Momentum Style Score of B, and shares are up 2.5% over the past four weeks.
For fiscal 2026, three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.04 to $3.57 per share. EXEL boasts an average earnings surprise of +14.7%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, EXEL should be on investors' short list.
Exelixis Reports Solid Earnings—Are New Highs Back on the Table?Exelixis NASDAQ: EXEL President and CEO Michael Morrissey said the company is focused on expanding its oncology franchises through internal development, selective business development and potential collaborations, while preparing for a planned launch of zanzalintinib in metastatic colorectal cancer.
Speaking at Morgan Stanley’s Global Healthcare Conference, Morrissey said innovation originating in China has become an important consideration for the biotechnology industry. Exelixis is evaluating external opportunities, including assets from outside the United States, but is prioritizing novel programs over “fast followers” or “me-too” products.
Get Exelixis alerts:
3 Stocks to Buy for a Soft Landing, If There Is One“We are open for business and looking very clearly at trying to expand our portfolio of franchises,” Morrissey said. He added that collaborative arrangements generally make the most sense for the company, though it may also consider acquisitions or partnerships.
AI Use Focused on Curated Data Morrissey said Exelixis is adopting artificial intelligence in a measured way rather than broadly increasing spending across its operations. The company is targeting uses of AI where it has highly curated data sets, including data from discovery, clinical development and commercial activities.
3 Strong Biotech Performers To Watch As Sector Nears BreakoutHe said the company has accumulated decades of longitudinal data and is using AI to improve the speed, depth and utility of its analyses. Commercial applications may be particularly valuable, he said, while security remains a core consideration alongside speed and data quality.
“I do not think we’re spending a lot of money, but I think we’re doing the right level of investments and the right focusing in terms of priorities to maximize impact,” Morrissey said.
On policy, Morrissey said drug pricing and most-favored-nation issues are among the leading concerns for Exelixis and the broader industry. He said the regulatory and political environment remains highly dynamic, with potential changes in Congress and future administrations creating uncertainty. The company maintains a policy team in Washington and engages with lawmakers on pricing, regulatory issues and competitive threats, he said.
Cabozantinib Remains a Major Growth Driver Morrissey said Exelixis’ cabozantinib business remains strong, with a global annualized run rate above $3 billion based on the company’s second-quarter 2026 results. Cabozantinib has been evaluated in numerous pivotal trials and has approvals across eight indications, he said.
The company recently added neuroendocrine tumors, or NET, to the cabozantinib franchise. Morrissey said growth in the indication has been somewhat slower than expected but does not change Exelixis’ long-term outlook.
Exelixis has settled with several generic manufacturers on a Jan. 1, 2031, entry date for cabozantinib. The company continues to litigate with other challengers and said a recent appellate decision supported its position. Morrissey said the company is not particularly concerned about potential 505(b)(2) competitors, which he said would face difficulty gaining adoption without significant clinical investment and data.
Zanzalintinib Launch Preparation Continues Exelixis is preparing to launch zanzalintinib in metastatic colorectal cancer following the STELLAR-303 study. Morrissey said the regulatory review timeline was extended, with the company setting the PDUFA date to March 3, as disclosed in a recent filing. He did not provide additional details beyond the company’s 8-K filing.
The delay has not changed Exelixis’ confidence in the opportunity or its resource allocation, Morrissey said. The company considers itself launch-ready and had previously expanded its gastrointestinal sales force in anticipation of a colorectal cancer launch.
Morrissey said STELLAR-303 was the only successful study among five recent trials testing checkpoint-based platform therapies in third-line or later non-MSI-high colorectal cancer. The trial evaluated zanzalintinib in combination with atezolizumab.
He said the company believes zanzalintinib’s kinase inhibition profile can affect multiple components of the tumor microenvironment, including tumor vasculature and immune cells. Exelixis views the STELLAR-303 results and its STELLAR-316 maintenance-focused trial as complementary parts of a broader colorectal cancer franchise strategy.
The late-line colorectal cancer setting represents approximately 23,000 patients and a $1.5 billion opportunity, according to the Morgan Stanley moderator. Morrissey said Exelixis has substantial overlap with its existing commercial infrastructure and is using sales, marketing and analytics capabilities to support the expected launch.
Broader Development Programs In renal cell carcinoma, Morrissey said STELLAR-304 is the first global randomized pivotal trial in non-clear-cell disease, an area he described as understudied. The trial uses sunitinib as a control arm. Exelixis is also conducting studies of zanzalintinib with belzutifan through its collaboration with Merck.
Morrissey said Exelixis is exploring additional frontline combinations, including possible bispecific antibodies and cancer vaccines. The company has an investigator-sponsored trial with Dana-Farber evaluating zanzalintinib alongside a peptide vaccine program.
For NET, he said STELLAR-311 is comparing zanzalintinib directly with everolimus, unlike the placebo-controlled CABINET trial for cabozantinib. Morrissey said the study is enrolling ahead of schedule and could expand the NET opportunity rather than simply transition existing cabozantinib patients.
Exelixis also has early-stage antibody-drug conjugate, small-molecule and bispecific programs advancing toward development decisions. Morrissey said the company will remain data-driven in determining whether to advance or discontinue programs, regardless of whether an asset originated internally or through business development.
“We just need a small number of winners,” Morrissey said. “We don’t need a big pipeline of unknowns.”
About Exelixis (NASDAQ:EXEL)Exelixis, Inc NASDAQ: EXEL is a biopharmaceutical company focused on discovering, developing and commercializing medicines for cancer and other serious diseases. The company's research and development activities center on targeted therapies designed to address biological pathways involved in tumor growth and progression.
Exelixis' principal product is cabozantinib, marketed in the United States as CABOMETYX tablets for certain patients with advanced renal cell carcinoma, hepatocellular carcinoma and radioactive iodine-refractory differentiated thyroid cancer.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
Should You Invest $1,000 in Exelixis Right Now?Before you consider Exelixis, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Exelixis wasn't on the list.
While Exelixis currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries. "Physical AI" is coming. Learn which seven companies are most positioned to benefit as intelligent robots enter the workforce.
Get This Free Report
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Exelixis, Inc. (EXEL) Morgan Stanley 24th Annual Global Healthcare Conference September 15, 2026 11:30 AM EDT
Company Participants
Michael Morrissey - CEO, President & Director
Conference Call Participants
Sean Laaman - Morgan Stanley, Research Division
Presentation
Sean Laaman
Morgan Stanley, Research Division
Good morning, everyone. I'm Sean Laaman, Head of U.S. Mid-cap Biotech Equity Research here at Morgan Stanley, and welcome to our Global Healthcare Conference.
Before we begin, just to make you aware of some important disclosures for those disclosures, please visit the Morgan Stanley disclosure website at www.morganstanley.com/researchdisclosures. And if you have any questions, please reach out to your Morgan Stanley sales representative.
For this session, we have the pleasure of hosting Exelixis and their President and CEO, Mike Morrissey. Thank you for your time and pleasure to host you.
Michael Morrissey
CEO, President & Director
Yes. It's great to be back. Big invite. Yes. Before I begin, let me just remind -- do my safe harbor. I'll be making forward-looking statements today. So please see our SEC filings for a description of the risks that we face in our business.
Sean Laaman
Morgan Stanley, Research Division
Okay. Thank you, Mike.
Michael Morrissey
CEO, President & Director
Thank you.
Question-and-Answer Session
Sean Laaman
Morgan Stanley, Research Division
And you'd be actively involved in this first one, I believe. So how is the rise of China-originated innovation changing your competitive positioning, if at all, in your R&D and BD playbook?
Michael Morrissey
CEO, President & Director
That is a great way to start the dialogue, and we could probably spend 33 minutes on that topic all by itself. First, let me say, again, it's great to be here. I really appreciate the -- and really value the relationship we have with Morgan Stanley on the research side, on the banking side. It's just been just great. So good to see you guys
Exelixis Reports Solid Earnings—Are New Highs Back on the Table?Exelixis NASDAQ: EXEL executives outlined plans to continue expanding the CABOMETYX franchise while preparing for a potential launch of zanzalintinib, or zanza, in colorectal cancer later this year.
Speaking at a Wells biotech session, Chief Financial Officer Chris Senner said the company is working to deepen penetration for CABOMETYX in renal cell carcinoma, or RCC, and in neuroendocrine tumors, or NET, following the NET indication launch last year. He said zanza development remains central to the company’s outlook heading into 2027.
Get Exelixis alerts:
3 Stocks to Buy for a Soft Landing, If There Is OneAndrew Peters, senior vice president of strategy, described 2026 as a transition period in which Exelixis is seeking to grow its CABOMETYX business while investing in zanza and earlier-stage pipeline programs. The company is also considering external business-development opportunities and share repurchases as part of its capital-allocation strategy.
CABOMETYX Growth Outlook and NET Launch Dynamics Senner said Exelixis continues to view a $3 billion CABOMETYX franchise as achievable, with RCC and NET contributing to growth through 2027, 2028 and 2029. The company has described the NET opportunity as roughly a $1 billion oral-drug market at contemporary pricing.
3 Strong Biotech Performers To Watch As Sector Nears BreakoutHowever, executives said the company’s reduced CABOMETYX guidance and second-quarter revenue performance reflected a slower-than-expected ramp in NET. Senner attributed the pace to the relatively indolent nature of the disease, where patients may have longer intervals between scans and between treatment decisions than patients with other solid tumors.
Peters said CABOMETYX was capturing approximately 47% of new-patient market share in NET, characterizing that measure as a leading indicator of long-term adoption. He said the issue was primarily “a temporal dynamic” between new-patient share and overall market share, rather than a change in the underlying market opportunity.
The company said it expanded its sales force earlier this year, with the team largely in place by the end of the first quarter. Senner said the expansion began affecting NET performance in the second quarter and is expected to continue supporting commercialization efforts.
Patent Planning and Competitive Landscape Peters said Exelixis does not view 505(b)(2) products, including a tentatively approved CABOMETYX-like therapy from Handa Pharmaceuticals, as a meaningful commercial risk to its CABOMETYX business. He said such products have historically faced commercial challenges when they lack clinical data, are not AB-rated, and are not interchangeable or substitutable with the reference product.
Exelixis is focused on patient safety and enforcing its intellectual-property rights where appropriate, Peters said.
For planning purposes, the company assumes CABOMETYX generics will enter the market on Jan. 1, 2031, based on announced settlements with Teva, Cipla and others. Peters said litigation and legal challenges can continue before then, but described the 2031 date as the most appropriate assumption for company planning.
Zanza Launch Preparation and Clinical Programs Exelixis said it is preparing to launch zanza immediately if it receives approval in colorectal cancer following its PDUFA date. Senner said launch expenses are included in company guidance and the commercial organization is preparing through advisory boards and market work.
Peters said the company’s regulatory filing for zanza in colorectal cancer was based on the intent-to-treat population from the STELLAR-303 study, including patients with and without liver metastases. He said data presented at ESMO and subsequently published showed consistent benefit across subpopulations.
The company has described the third-line-and-beyond colorectal cancer market as an approximately $1.5 billion opportunity. Peters said Exelixis aims to reach as much of that market as possible, citing interest in a chemotherapy-free, checkpoint-containing treatment option and the potential benefit regardless of prior Avastin use.
Exelixis has not disclosed specific pricing plans for zanza. Senner said pricing would be “contemporary” with more recent market practices and would be determined using multiple metrics.
In RCC, Exelixis is developing zanza combinations in the LITESPARK-033 and LITESPARK-034 studies with partner Merck. Peters said the programs target areas of unmet need, including patients who progress after adjuvant pembrolizumab and later-line RCC treatment. The company also sees an opportunity in non-clear cell RCC through STELLAR-304, which excludes the chromophobe subpopulation and seeks to establish level-one evidence in a setting where treatment decisions have often relied on smaller, unrandomized studies.
Pipeline and Capital Allocation Exelixis continues to view NET as a core franchise and is investing in zanza through the STELLAR-311 first-line NET study. Peters said the slower commercial kinetics in second-line NET have not changed the company’s view of the broader NET opportunity or its approach to STELLAR-311 enrollment.
In meningioma, Peters said a phase 2 study could potentially support an accelerated-approval path if it produces a robust response rate, though he emphasized that any regulatory strategy would be data-dependent. The study’s primary endpoint is response rate, with duration of response, progression-free survival and overall survival among secondary measures.
Senner said capital allocation remains focused on three areas:
Annual research and development spending of $1 billion or less; Business-development opportunities, primarily in gastrointestinal and genitourinary areas; and Share repurchases. Through the second quarter of 2026, Exelixis had repurchased approximately $2.9 billion of stock since the second quarter of 2023, retiring about 90 million shares. The company had approximately $600 million remaining under its current repurchase authorization as of the end of the last quarter, Senner said.
About Exelixis (NASDAQ:EXEL)Exelixis, Inc NASDAQ: EXEL is a biopharmaceutical company focused on discovering, developing and commercializing medicines for cancer and other serious diseases. The company's research and development activities center on targeted therapies designed to address biological pathways involved in tumor growth and progression.
Exelixis' principal product is cabozantinib, marketed in the United States as CABOMETYX tablets for certain patients with advanced renal cell carcinoma, hepatocellular carcinoma and radioactive iodine-refractory differentiated thyroid cancer.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
Should You Invest $1,000 in Exelixis Right Now?Before you consider Exelixis, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Exelixis wasn't on the list.
While Exelixis currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. Inside this report, you’ll find 7 stocks that could play a major role in the next tech-driven market boom.
Get This Free Report
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Integrated Wealth Concepts LLC reduced its position in shares of Exelixis, Inc. (NASDAQ:EXEL – Free Report) by 25.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,636 shares of the biotechnology company’s stock after selling 20,265 shares during the period. Integrated Wealth Concepts LLC’s holdings in Exelixis were worth $3,190,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EXEL. BlackRock Inc. bought a new position in shares of Exelixis in the 2nd quarter valued at $1,581,991,000. California State Teachers Retirement System lifted its position in shares of Exelixis by 4,875.6% during the 2nd quarter. California State Teachers Retirement System now owns 14,785,373 shares of the biotechnology company’s stock worth $804,472,000 after buying an additional 14,488,217 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Exelixis by 48.8% during the 4th quarter. AQR Capital Management LLC now owns 13,658,388 shares of the biotechnology company’s stock worth $598,647,000 after buying an additional 4,477,029 shares during the last quarter. Invesco Ltd. boosted its stake in Exelixis by 1.6% in the fourth quarter. Invesco Ltd. now owns 6,054,743 shares of the biotechnology company’s stock valued at $265,379,000 after buying an additional 94,218 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Exelixis by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,299,597 shares of the biotechnology company’s stock valued at $184,391,000 after purchasing an additional 39,920 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.
Exelixis Stock Performance EXEL stock opened at $56.12 on Monday. The stock has a market cap of $13.91 billion, a P/E ratio of 17.65, a P/E/G ratio of 1.67 and a beta of 0.42. The stock’s fifty day simple moving average is $55.35 and its two-hundred day simple moving average is $50.02. Exelixis, Inc. has a 1-year low of $33.76 and a 1-year high of $59.72.
Exelixis (NASDAQ:EXEL – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The business had revenue of $628.69 million for the quarter, compared to analyst estimates of $636.40 million. During the same quarter in the previous year, the firm posted $0.75 earnings per share. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, analysts forecast that Exelixis, Inc. will post 3.19 earnings per share for the current fiscal year. Insiders Place Their Bets In related news, Director Mary Beckerle sold 9,812 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $53.66, for a total value of $526,511.92. Following the sale, the director directly owned 16,079 shares in the company, valued at approximately $862,799.14. The trade was a 37.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.60% of the company’s stock.
Analyst Ratings Changes Several equities research analysts recently weighed in on the company. Barclays boosted their price objective on Exelixis from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. HC Wainwright reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Exelixis in a research note on Thursday, July 2nd. BMO Capital Markets initiated coverage on Exelixis in a research note on Tuesday, August 18th. They set a “market perform” rating and a $54.00 target price for the company. William Blair restated an “outperform” rating on shares of Exelixis in a report on Friday. Finally, Wall Street Zen downgraded Exelixis from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $50.07.
Get Our Latest Research Report on Exelixis
Exelixis News Summary Here are the key news stories impacting Exelixis this week:
Neutral Sentiment: The FDA extended its review of Exelixis’ application for zanzalintinib in combination with atezolizumab for patients with metastatic colorectal cancer by three months. The new decision target is March 2027. The extension does not indicate a rejection, but it delays regulatory clarity. U.S. FDA extends review of Exelixis’ cancer drug Negative Sentiment: The delayed decision pushes back the potential launch and commercial ramp of zanzalintinib in colorectal cancer, reducing near-term visibility for investors and contributing to concern about Exelixis’ revenue outlook. Analysts are also assessing the effect of the announcement on stock volatility. Exelixis Stock Slips as FDA Delays Cancer Drug Review, Analyst Weighs In Neutral Sentiment: The FDA action follows Exelixis’ broader investor presentation and legal developments, but the reports provide no new change to the company’s existing earnings outlook or indication of a problem with its currently marketed products. Exelixis Presents at Citigroup’s Biopharma Back to School Summit 2026 Exelixis Company Profile (Free Report)
Exelixis, Inc (NASDAQ: EXEL) is a biopharmaceutical company focused on discovering, developing and commercializing medicines for cancer and other serious diseases. The company’s research and development activities center on targeted therapies designed to address biological pathways involved in tumor growth and progression.
Exelixis’ principal product is cabozantinib, marketed in the United States as CABOMETYX tablets for certain patients with advanced renal cell carcinoma, hepatocellular carcinoma and radioactive iodine-refractory differentiated thyroid cancer.
Featured Articles Five stocks we like better than Exelixis Why Bitcoin ETFs May Be Worth Another Look as Inflows Rebound 3 Small-Cap Biotechs With Binary Catalysts on the Calendar Planet Labs Has Fallen Back to Earth, But Wall Street Still Sees a Rebound As Homeowners’ Premiums Surge, This Insurer Is Posting Record Profits Want to see what other hedge funds are holding EXEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Exelixis, Inc. (NASDAQ:EXEL – Free Report).
Receive News & Ratings for Exelixis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exelixis and related companies with MarketBeat.com's FREE daily email newsletter.
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.8% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Exelixis (EXEL - Free Report) Alameda, CA-based Exelixis, Inc. is an oncology-focused biotechnology company that primarily focuses on the discovery, development and commercialization of new drugs for the treatment of difficult-to-treat cancers. The company is leveraging its investments, expertise and strategic partnerships to target an expanding range of tumor types and indications with its clinically differentiated pipeline of small molecules, antibody-drug conjugates (ADCs) and other biotherapeutics.
EXEL is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
Additionally, the company could be a top pick for growth investors. EXEL has a Growth Style Score of A, forecasting year-over-year earnings growth of 15.9% for the current fiscal year.
Three analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.03 to $3.57 per share. EXEL boasts an average earnings surprise of +14.7%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, EXEL should be on investors' short list.
Exelixis Reports Solid Earnings—Are New Highs Back on the Table?Exelixis NASDAQ: EXEL executives outlined a franchise-focused growth strategy centered on expanding CABOMETYX across renal cell carcinoma and neuroendocrine tumors while advancing zanzalintinib through multiple late-stage studies.
Speaking at a company event, Andrew Peters, Exelixis’ senior vice president of strategy and investor relations, said the company views its business through “franchises” spanning products, disease indications and treatment modalities. In addition to its small-molecule therapies CABOMETYX and zanzalintinib, Exelixis is developing other approaches, including tissue factor antibody-drug conjugate XB371 and next-generation immuno-oncology bispecific XB628.
Get Exelixis alerts:
3 Stocks to Buy for a Soft Landing, If There Is One“Over the last several years, we have really transformed the company, with the success of CABO, to really invest in all of those areas,” Peters said. He added that Exelixis is working toward building additional franchises beyond CABOMETYX.
CABOMETYX Share Gains and NET Opportunity Chris Senner, Exelixis’ chief financial officer, said CABOMETYX has continued to gain share among VEGF tyrosine kinase inhibitors in renal cell carcinoma, or RCC. The drug’s market share rose to 47% in the second quarter of 2026 from 45% in the prior-year period, according to Senner.
3 Strong Biotech Performers To Watch As Sector Nears BreakoutSenner attributed growth to the company’s RCC base business as well as its neuroendocrine tumor, or NET, business. Peters said continued data generation and commercial execution are central to expanding adoption. Exelixis increased its NET sales force earlier in 2026, both to broaden coverage in that market and to prepare for a potential zanzalintinib launch, given the overlap between NET and colorectal cancer physicians.
In second-line NETs, Senner said CABOMETYX held about a 45% share of new patients during the second quarter. He noted, however, that the overall revenue contribution will build over time because NETs are generally slow-growing tumors and patients may remain on treatment for extended periods.
“What we haven’t seen yet is the stacking of those patients,” Senner said, adding that the company expects that process to develop through 2026, 2027 and 2028. He estimated the NET market’s total addressable market at approximately $1 billion at current pricing and described the indication as a significant contributor to Exelixis’ growth outlook through 2030.
Peters cautioned that it remains early to make definitive assessments of real-world treatment duration in NETs because CABOMETYX had been approved in the indication for only a little more than a year.
Zanzalintinib Programs Target Colorectal Cancer and RCC Exelixis is approaching a regulatory decision for zanzalintinib in third-line or later metastatic colorectal cancer. Peters said the company views that U.S. market as at least a $1.5 billion opportunity, though he declined to project market share or treatment duration before launch.
He described the zanzalintinib-plus-atezolizumab combination as a chemotherapy-free, checkpoint-containing option in a setting with substantial unmet need. Peters said treatment in third-line colorectal cancer is fragmented, with roughly one-third of patients receiving the SUNLIGHT regimen, one-third receiving TKIs and the remainder receiving various chemotherapy regimens. Exelixis aims to capture share across those categories rather than focus on a single treatment pattern.
The company is also conducting the STELLAR-316 Phase 3 study in colorectal cancer patients following adjuvant or definitive therapy. Peters said interest in STELLAR-316 and the third-line STELLAR-303 program has helped create awareness of zanzalintinib among clinicians ahead of a potential launch.
In RCC, Exelixis expects a readout from STELLAR-304 in non-clear cell disease. Peters said the pivotal trial is the first large randomized study in the segment intended to establish a standard of care with what he called level-one evidence. The study’s progression-free survival analysis will include an interim overall survival look, although Peters said the maturity of the survival data could not yet be predicted.
Senner said Exelixis’ established relationships with physicians and payers in RCC would support a potential commercial launch if the STELLAR-304 data are positive.
Exelixis is also partnered with Merck on the LITESPARK-033 and LITESPARK-034 studies of zanzalintinib combinations in clear cell RCC. Peters said the company previously estimated a $5 billion total addressable market for zanzalintinib across studies underway at the time, with 45% tied to gastrointestinal cancers and 45% to genitourinary cancers, including the three RCC studies.
Peters characterized zanzalintinib as a potentially best-in-class TKI designed from the CABOMETYX scaffold with a modified pharmacokinetic profile intended to support dose titration, adverse-event management and use in multi-drug combinations.
Expense Discipline, Capital Allocation and AI Senner said Exelixis expects to keep annual research and development expense in the range of $1 billion or less for the foreseeable future. With CABOMETYX revenue growth and a potential zanzalintinib launch, he said the company believes it can maintain healthy operating margins while funding R&D, business development and share repurchases.
The company is executing a $750 million share repurchase program. From the second quarter of 2023 through the second quarter of 2026, Exelixis repurchased approximately $2.9 billion of shares, Senner said.
Senner also said Exelixis is deploying artificial intelligence tools across commercial operations, R&D and general and administrative functions. Commercial representatives can use AI-enabled prompts to identify physicians to contact and review changes in prescribing patterns, he said. The company is also developing internal R&D tools after finding some off-the-shelf development tools less useful than expected.
“We’re using it in all different parts of the organization,” Senner said of AI, adding that the company expects its impact to increase over time.
About Exelixis (NASDAQ:EXEL)Exelixis, Inc NASDAQ: EXEL is a biopharmaceutical company focused on discovering, developing and commercializing medicines for cancer and other serious diseases. The company's research and development activities center on targeted therapies designed to address biological pathways involved in tumor growth and progression.
Exelixis' principal product is cabozantinib, marketed in the United States as CABOMETYX tablets for certain patients with advanced renal cell carcinoma, hepatocellular carcinoma and radioactive iodine-refractory differentiated thyroid cancer.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
Should You Invest $1,000 in Exelixis Right Now?Before you consider Exelixis, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Exelixis wasn't on the list.
While Exelixis currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Discover the 10 Best High-Yield Dividend Stocks for 2026 and secure reliable income in uncertain markets. Download the report now to identify top dividend payers and avoid common yield traps.
Get This Free Report
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
The FDA extended its review of Exelixis' zanzalintinib by three months, but no new clinical failure or safety signal was disclosed. At a 10% discount rate, three months reduces an asset's present value by only 2.35%, far less than Exelixis initially lost. CABOMETYX continues growing, and 2026 guidance includes no zanzalintinib launch revenue.
On Friday, the U.S. Food and Drug Administration (FDA) extended the review period for Exelixis Inc.‘s (NASDAQ:EXEL) new drug application (NDA) for zanzalintinib, in combination with atezolizumab, for metastatic colorectal cancer by three months.
• Exelixis stock is under selling pressure. Why is EXEL stock retreating?
In response to an FDA information request, Exelixis submitted updated safety and efficacy data, which the FDA has deemed a major amendment.
The updated Prescription Drug User Fee Act action date is March 3, 2027.
Analyst ViewWilliam Blair on Friday wrote, “While we are surprised by the three-month delay, we believe the risk of rejection remains low, given that the combination of zanzalintinib plus Tecentriq demonstrated an overall survival (OS) benefit across the intent-to-treat population in the Phase 3 STELLAR-303 study.”
Although analyst Andy Hsieh acknowledged the challenge of pinpointing the exact motives of the regulator, he outlined three plausible reasons for the request.
Read Next
First, regulators might require additional clinical data comparing the 100 mg dose against the 60 mg dose of zanzalintinib.
Second, health officials could be seeking clearer evidence regarding the individual therapeutic contributions of zanzalintinib and Tecentriq.
Third, regulators may be addressing a specific technical query that Wall Street observers had not previously highlighted during earlier review phases.
Market Reaction and Commercial ImpactDespite the regulatory hurdle, Hsieh emphasized that the three-month postponement should not significantly diminish long-term revenue potential for zanzalintinib.
However, the analyst warned that investors should prepare for heightened equity volatility in the short term.
EXEL Stock Price Activity: Exelixis shares were down 1.81% to $56.39 at the time of publication on Friday, according to Benzinga Pro data.
Read Next
Market News and Data brought to you by Benzinga APIs
The U.S. Food and Drug Administration has extended the review of Exelixis' (EXEL.O) experimental colorectal cancer drug combination by three months, the company said in a filing on Friday.
The regulator will now make its decision by March 3, 2027.
Shares of the company slipped about 3.5% before the bell.
In response to an FDA information request, Exelixis submitted updated safety and efficacy data, which the health regulator classified as a major amendment, the filing showed.
The drugmaker did not immediately respond to a Reuters request for further details.
The company is seeking approval for zanzalintinib in combination with Roche's (ROPC.S) immunotherapy Tecentriq for the treatment of a subset of adult patients with metastatic colorectal cancer who have been previously treated.
Analysts see zanzalintinib as a key growth driver for Exelixis, extending the company's cancer franchise beyond its older drug Cabometyx.
"While we are surprised by the three-month delay... we believe the risk of rejection remains low," said William Blair analyst Andy Hsieh.
Zanzalintinib is an oral drug belonging to the class known as tyrosine kinase inhibitors that selectively inhibit protein kinases that regulate cell growth.
In June, the combination failed to achieve statistical significance in a late-stage trial on one of two main goals measuring overall survival in patients without active liver metastases.
In another trial reported in June 2025, the combo showed statistically significant improvement in overall survival compared to Bayer's (BAYGn.DE) Stivarga in the intent-to-treat population of patients.
Intent-to-treat patients represent the largest commercial opportunity within the target population, William Blair analysts wrote in a note last month.
The company is also studying zanzalintinib in other types of cancer.
Baird Financial Group Inc. increased its holdings in shares of Exelixis, Inc. (NASDAQ:EXEL – Free Report) by 7,459.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 437,138 shares of the biotechnology company’s stock after acquiring an additional 431,355 shares during the period. Baird Financial Group Inc. owned approximately 0.18% of Exelixis worth $23,785,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Exelixis during the 2nd quarter worth $1,581,991,000. California State Teachers Retirement System boosted its holdings in Exelixis by 4,875.6% during the second quarter. California State Teachers Retirement System now owns 14,785,373 shares of the biotechnology company’s stock worth $804,472,000 after buying an additional 14,488,217 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Exelixis by 48.8% during the fourth quarter. AQR Capital Management LLC now owns 13,658,388 shares of the biotechnology company’s stock worth $598,647,000 after buying an additional 4,477,029 shares in the last quarter. Norges Bank acquired a new position in Exelixis during the fourth quarter worth about $106,460,000. Finally, Caisse de depot et placement du Quebec acquired a new position in Exelixis during the second quarter worth about $113,951,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.
Insider Activity In other news, Director Mary Beckerle sold 9,812 shares of the company’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 sale, the director directly owned 16,079 shares in the company, valued at $862,799.14. This represents a 37.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.60% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades A number of research firms have recently issued reports on EXEL. Citizens Jmp lifted their price target on shares of Exelixis from $50.00 to $55.00 and gave the company a “market outperform” rating in a research report on Wednesday, June 24th. Stifel Nicolaus upped their price target on Exelixis from $47.00 to $51.00 and gave the stock a “hold” rating in a report on Thursday, August 6th. Royal Bank Of Canada raised their price objective on Exelixis from $43.00 to $46.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 7th. Leerink Partners downgraded Exelixis from an “outperform” rating to a “market perform” rating and set a $52.00 target price on the stock. in a research report on Thursday, August 6th. Finally, Weiss Ratings raised Exelixis from a “buy (b)” rating to a “buy (a-)” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $50.07. Get Our Latest Stock Analysis on EXEL
Exelixis Price Performance Shares of EXEL opened at $57.43 on Friday. Exelixis, Inc. has a 1-year low of $33.76 and a 1-year high of $59.72. The stock has a market cap of $14.23 billion, a price-to-earnings ratio of 18.06, a price-to-earnings-growth ratio of 1.73 and a beta of 0.42. The firm has a 50 day simple moving average of $55.34 and a 200-day simple moving average of $49.94.
Exelixis (NASDAQ:EXEL – Get Free Report) last posted its earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $628.69 million for the quarter, compared to analyst estimates of $636.40 million. Exelixis had a return on equity of 42.17% and a net margin of 35.33%.Exelixis’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 EPS. On average, equities analysts expect that Exelixis, Inc. will post 3.19 earnings per share for the current fiscal year.
About Exelixis (Free Report)
Exelixis, Inc (NASDAQ: EXEL) is a biopharmaceutical company focused on discovering, developing and commercializing medicines for cancer and other serious diseases. The company’s research and development activities center on targeted therapies designed to address biological pathways involved in tumor growth and progression.
Exelixis’ principal product is cabozantinib, marketed in the United States as CABOMETYX tablets for certain patients with advanced renal cell carcinoma, hepatocellular carcinoma and radioactive iodine-refractory differentiated thyroid cancer.
See Also Five stocks we like better than Exelixis AeroVironment’s Record Backlog and Earnings Beat Fuel Recovery Case Corning Just Locked In a Massive Verizon Fiber Deal as AI Infrastructure Expands 3 Under-$20 Stocks Tied to the Future of U.S. Energy and Materials Uncle Sam’s Quantum Leap: Feds Fund a $300M Quantum Supercycle
Receive News & Ratings for Exelixis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exelixis and related companies with MarketBeat.com's FREE daily email newsletter.
A month has gone by since the last earnings report for Exelixis (EXEL - Free Report) . Shares have added about 13.3% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Exelixis due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
Exelixis reported adjusted earnings per share (EPS) of 91 cents in the second quarter, which comfortably beat the Zacks Consensus Estimate of 86 cents. The company posted adjusted EPS of 75 cents in the year-ago quarter. Adjusted earnings excluded the impact of stock-based compensation expenses.
Including stock-based compensation expense, EPS was 82 cents compared with 65 cents in the year-ago period.
The bottom-line growth can be attributed to higher operating income and a decrease in shares outstanding due to ongoing buybacks.
Revenues rose 10.6% year over year to $628.7 million but missed the Zacks Consensus Estimate of $635 million.
EXEL's Product Sales Maintain Growth
Net product revenues increased to $573.03 million from $520.01 million in the year-ago quarter, primarily due to higher sales volume.
Cabometyx (cabozantinib) generated revenues of $570.6 million, which missed the Zacks Consensus Estimate of $578 million and our model estimate of $575 million. The drug is approved for advanced renal cell carcinoma (RCC) and previously treated hepatocellular carcinoma.
Cabometyx remained the leading prescribed tyrosine kinase inhibitor (TKI) in RCC. Its total prescription share within the company’s tracked oral TKI market basket increased to 47% from 45% a year earlier, while prescription volume rose 12%, outpacing the market basket’s 6% growth.
In March 2025, Exelixis obtained FDA approval for the label expansion of Cabometyx for the treatment of adult and pediatric patients 12 years of age and older with previously treated, unresectable, locally advanced or metastatic, well-differentiated pancreatic and extra-pancreatic neuroendocrine tumors (pNET). The drug was also approved for adult and pediatric patients 12 years of age and older with previously treated, unresectable, locally advanced or metastatic, well-differentiated extra-pancreatic NET (epNET).
However, the neuroendocrine tumor indication expanded more gradually than management had projected. Exelixis attributed the slower ramp-up to the relatively indolent nature of NET, less frequent patient scans and longer transitions between therapies.
Cometriq (cabozantinib capsules) generated $2.4 million in net product revenues for treating medullary thyroid cancer.
Collaboration revenues rose 15.4% to $55.7 million. The improvement reflected higher royalties on cabozantinib sales outside the United States by partner Ipsen, partly offset by lower development cost reimbursements. Exelixis earned $53.2 million in royalty revenues from partners Ipsen and Takeda during the quarter.
EXEL's Costs Rise as Operating Income Expands
Research and development expenses increased 5.8% year over year to $211.99 million due to higher clinical trial, manufacturing and collaboration costs as Exelixis continued investing in zanzalintinib and other pipeline candidates.
Selling, general and administrative expenses rose 9.5% to $147.63 million, reflecting higher marketing and personnel costs. Despite the increased spending, operating income climbed 16.3% to $248.41 million, and the operating margin expanded to 39.5% from 37.6%.
Exelixis Lowers Its 2026 Revenue Outlook
Management lowered its 2026 total revenue guidance to $2.50-$2.55 billion from $2.525-$2.625 billion. Net product revenue guidance was lowered to $2.30-$2.35 billion from $2.325-$2.425 billion, primarily because of the slower-than-expected NET ramp-up.
The revised outlook excludes potential revenues from zanzalintinib in previously treated metastatic colorectal cancer. Exelixis also lowered its R&D expense forecast to $825-$875 million from $875-$925 million. Its SG&A expense projection remained unchanged at $575-$625 million.
EXEL Advances Share Repurchase Program
Exelixis repurchased $311.6 million of the company’s shares in the second quarter, completing the $750 million share repurchase program (SRP) launched in October 2025.
The company also began repurchases under a new $750 million SRP authorized in May 2026, which runs through Dec. 31, 2027. Since launching its first SRP in March 2023, Exelixis has repurchased $2.9 billion of stock, retiring 93.3 million shares at an average price of $31.12 per share as of the end of the second quarter of 2026.
EXEL Advances Its Zanzalintinib Pipeline
The FDA is reviewing zanzalintinib in combination with Roche’s Tecentriq for previously treated metastatic colorectal cancer, with a target action date of Dec. 3, 2026. Its approval would establish zanzalintinib as Exelixis’ second commercial oncology franchise and broaden its portfolio beyond cabozantinib.
In June 2026, Exelixis reported final phase III STELLAR-303 results showing a non-statistically significant overall survival trend favoring zanzalintinib plus Tecentriq over regorafenib in the non-liver metastases (NLM) subgroup of previously treated non-MSI-high metastatic colorectal cancer. The study had previously met its other dual primary endpoint of overall survival in the intent-to-treat population, which included all randomized patients regardless of the presence of active liver metastases, as reported in June 2025.
Roche’s Tecentriq is a cancer immunotherapy that is approved around the world, either alone or in combination with targeted therapies and/or chemotherapies, for various types of cancer.
EXEL has collaborated with Merck to evaluate zanzalintinib, in combination with subcutaneous Keytruda Qlex in the planned phase III STELLAR-316 study for resected stage II/III colorectal cancer (CRC).
Under the agreement, Exelixis will sponsor the STELLAR-316 study, while Merck will provide Keytruda Qlex for use in the same. Keytruda is approved for several types of cancer.
Exelixis expects to initiate STELLAR-316 shortly, which will evaluate zanzalintinib with and without Keytruda Qlex in patients with resected stage II/III CRC who, following definitive therapy, have tested positive for molecular residual disease (MRD+) and have no radiographic evidence of disease — a high-risk population with substantial unmet need.
Earlier this year, Exelixis partnered with Natera, a global leader in cell-free DNA and precision medicine, for this study.
Natera will supply its Signatera assay to identify eligible MRD-positive patients for enrollment, further integrating precision medicine into the program.
The Merck partnership extends beyond colorectal cancer. In April 2026, Merck initiated the phase III LITESPARK-034 trial evaluating zanzalintinib plus Welireg versus Welireg and placebo in previously treated advanced RCC patients who progressed after PD-1/L1 and VEGFR-TKI therapies.
This marks the second Merck-sponsored phase III study under the collaboration, following LITESPARK-033 (launched in December 2025), which is assessing the combination against cabozantinib in first-line advanced RCC post-adjuvant immunotherapy.
In May 2026, Exelixis announced the initiation of STELLAR-201, a phase II study evaluating zanzalintinib in patients with recurrent Grade I/II/III meningioma with relapse or progression following radiation and/or surgery or those who are not candidates for these therapies.
How Have Estimates Been Moving Since Then?It turns out, estimates revision have trended upward during the past month.
VGM ScoresAt this time, Exelixis has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with an F. However, the stock has a score of B on the value side, putting it in the second quintile for value investors.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Exelixis has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry PlayerExelixis is part of the Zacks Medical - Biomedical and Genetics industry. Over the past month, Biogen Inc. (BIIB - Free Report) , a stock from the same industry, has gained 8.8%. The company reported its results for the quarter ended June 2026 more than a month ago.
Biogen reported revenues of $2.74 billion in the last reported quarter, representing a year-over-year change of +3.4%. EPS of $3.60 for the same period compares with $5.47 a year ago.
For the current quarter, Biogen is expected to post earnings of $2.31 per share, indicating a change of -52% from the year-ago quarter. The Zacks Consensus Estimate has changed -4.6% over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Biogen. Also, the stock has a VGM Score of C.
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
#1 (Strong Buy) stocks have produced an unmatched +23.8% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Exelixis (EXEL - Free Report) Alameda, CA-based Exelixis, Inc. is an oncology-focused biotechnology company that primarily focuses on the discovery, development and commercialization of new drugs for the treatment of difficult-to-treat cancers. The company is leveraging its investments, expertise and strategic partnerships to target an expanding range of tumor types and indications with its clinically differentiated pipeline of small molecules, antibody-drug conjugates (ADCs) and other biotherapeutics.
EXEL is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 16.39; value investors should take notice.
For fiscal 2026, four analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.04 to $3.57 per share. EXEL boasts an average earnings surprise of +14.7%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, EXEL should be on investors' short list.
ALAMEDA, Calif.--(BUSINESS WIRE)--Exelixis, Inc. (Nasdaq: EXEL) today announced that company management will participate in fireside chats at the following investor conferences in September:
Wells Fargo 21st Annual Healthcare Conference: Exelixis is scheduled to present at 11:00 a.m. ET / 8:00 a.m. PT on Tuesday, September 8 in Boston. Citi 2026 Biopharma Back to School Conference: Exelixis is scheduled to present at 8:40 a.m. ET / 5:40 a.m. PT on Wednesday, September 9 in New York City. Morgan Stanley 24th Annual Global Healthcare Conference: Exelixis is scheduled to present at 11:30 a.m. ET / 8:30 a.m. PT on Tuesday, September 15 in New York City. To access the webcast links, log onto www.exelixis.com and proceed to the Event Calendar page under the Investors & News heading. Replays will also be available at the same location for at least 30 days.
About Exelixis
Exelixis is a globally ambitious oncology company innovating next-generation medicines and regimens at the forefront of cancer care. Powered by drug discovery and development excellence, we are rapidly evolving our product portfolio to target an expanding range of tumor types and indications with our clinically differentiated pipeline of small molecules and biotherapeutics. This comprehensive approach harnesses decades of robust investment in our science and partnerships to advance our pipeline of franchise molecules, including our novel oral kinase inhibitor zanzalintinib, and to extend the impact of our flagship commercial product, CABOMETYX® (cabozantinib). Exelixis is driven by a bold scientific pursuit to create transformational treatments that give more patients hope for the future. For information about the company and its mission to help cancer patients recover stronger and live longer, visit www.exelixis.com, follow @ExelixisInc on X (Twitter), like Exelixis, Inc. on Facebook and follow Exelixis on LinkedIn.
Exelixis, the Exelixis logo and CABOMETYX are registered U.S. trademarks of Exelixis, Inc.
Exelixis is downgraded from "Strong Buy" to "Hold" due to lowered 2026 revenue guidance and mixed clinical trial outcomes. Zanzalintinib + TECENTRIQ achieved overall survival benefit in mCRC, but missed the non-liver metastases subgroup endpoint; FDA PDUFA date set for December 3, 2026. Q2 2026 revenues rose to $628.7M, but future sales growth is uncertain and full-year guidance was cut to $2.500–$2.550B.
[url="]Exelixis, Inc.[/url] (Nasdaq: EXEL) today announced that in the lawsuit Exelixis, Inc. (Exelixis) vs. MSN Laboratories Private Limited et al. (MSN), Civi
ALAMEDA, Calif.--(BUSINESS WIRE)--Exelixis, Inc. (Nasdaq: EXEL) today announced that in the lawsuit Exelixis, Inc. (Exelixis) vs. MSN Laboratories Private Limited et al. (MSN), Civil Action No. 22-00228 (Consolidated), the U.S. Court of Appeals for the Federal Circuit (Appeal No. 25-1236) has affirmed a key portion of the 2024 judgment of the U.S. District Court for the District of Delaware in Exelixis' favor. The appellate court upheld the District Court's decision that three patents covering.
Exelixis, Inc. (EXEL) shares enjoying institutional support – up 43.5% in a year.
EXEL is an oncology company that discovers, develops, and commercializes new treatments for hard-to-treat cancers. Its second-quarter 2026 report showed $629 million in quarterly revenue ($573 million from its cabozantinib product alone, a 10% year-over-year rise), GAAP net income of $212 million ($0.82 per diluted share), $1.4 billion in cash, and $312 million in repurchases last quarter.
It’s no wonder EXEL shares are up 26% so far this year – and they could rise more. MoneyFlows data shows how Big Money investors are once again betting heavily on the forward picture of the stock.
Exelixis Brings in Big Money Institutional volumes reveal plenty. In the last year, EXEL has enjoyed strong investor demand, which we believe to be institutional support.
Each green bar signals unusually large volumes in EXEL shares. They reflect our proprietary inflow signal, pushing the stock higher:
Institutional inflows have pushed EXEL shares up 43.5% in a year. Source: www.moneyflows.com Plenty of health care names are under accumulation right now. But there’s a powerful fundamental story happening with Exelixis.
Exelixis Fundamental Analysis Institutional support and a healthy fundamental backdrop make this company worth investigating. As you can see, EXEL has had strong sales and earnings growth:
Also, EPS is estimated to ramp higher this year by +16%.
Now it makes sense why the stock has been generating Big Money interest. EXEL has a track record of strong financial performance.
Marrying great fundamentals with our proprietary software has found some big winning stocks over the long term.
Exelixis has been a top-rated stock at MoneyFlows. That means the stock has unusual buy pressure and growing fundamentals. We have a ranking process that showcases stocks like this on a weekly basis.
It’s made the rare Outlier 20 report 31 times since 2017, rising 134.3% since the first outlier inflow signal. The blue bars below show when EXEL was a top pick in the last year…institutional support keeps flowing:
Shares of EXEL have seen seven outlier inflow signals in the past year and 31 overall since 2017. Source: www.moneyflows.com Tracking unusual volumes reveals the power of money flows.
This is a trait that most outlier stocks exhibit…the best of the best. Big Money demand drives stocks upward.
Exelixis Price Prediction The EXEL action isn’t new at all. Big Money buying in the shares is signaling to take notice. Given the historical gains in share price and strong fundamentals, this stock could be worth a spot in a diversified portfolio.
Disclosure: the author holds no position in EXEL at the time of publication.
If you are a Registered Investment Advisor (RIA) or a serious investor, take your investing to the next level. MoneyFlows created 11 Frontiers indexes to help serious investors capture AI-driven themes and learn the leading stocks in each Frontier. Get started here.
Allworth Financial LP bought a new position in shares of Exelixis, Inc. (NASDAQ:EXEL – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,562 shares of the biotechnology company’s stock, valued at approximately $575,000.
A number of other hedge funds have also modified their holdings of EXEL. BlackRock Inc. purchased a new stake in Exelixis during the 2nd quarter valued at about $1,581,991,000. AQR Capital Management LLC raised its holdings in Exelixis by 48.8% in the 4th quarter. AQR Capital Management LLC now owns 13,658,388 shares of the biotechnology company’s stock valued at $598,647,000 after acquiring an additional 4,477,029 shares during the last quarter. Norges Bank purchased a new position in Exelixis in the 4th quarter worth approximately $106,460,000. Bank of New York Mellon Corp purchased a new position in Exelixis in the 2nd quarter worth approximately $107,803,000. Finally, UBS Group AG boosted its holdings in shares of Exelixis by 100.1% during the 3rd quarter. UBS Group AG now owns 2,655,069 shares of the biotechnology company’s stock worth $109,654,000 after purchasing an additional 1,328,087 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Exelixis In other Exelixis news, EVP Dana Aftab sold 43,451 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $50.35, for a total value of $2,187,757.85. Following the completion of the transaction, the executive vice president owned 594,741 shares of the company’s stock, valued at $29,945,209.35. This trade represents a 6.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Mary C. Beckerle sold 9,812 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $53.66, for a total transaction of $526,511.92. Following the completion of the transaction, the director directly owned 16,079 shares of the company’s stock, valued at $862,799.14. This represents a 37.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 67,000 shares of company stock valued at $3,404,652 in the last quarter. Corporate insiders own 2.60% of the company’s stock.
Exelixis Stock Performance EXEL stock opened at $54.08 on Monday. The business’s fifty day moving average price is $54.26 and its 200 day moving average price is $48.60. Exelixis, Inc. has a 12-month low of $33.76 and a 12-month high of $57.57. The company has a market capitalization of $13.40 billion, a PE ratio of 17.01, a P/E/G ratio of 1.61 and a beta of 0.44. Exelixis (NASDAQ:EXEL – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $628.69 million for the quarter, compared to analyst estimates of $636.40 million. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 earnings per share. Research analysts predict that Exelixis, Inc. will post 3.18 EPS for the current fiscal year.
Analysts Set New Price Targets EXEL has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on Exelixis from $47.00 to $51.00 and gave the stock a “hold” rating in a research report on Thursday, August 6th. Truist Financial dropped their price objective on shares of Exelixis from $56.00 to $52.00 and set a “hold” rating for the company in a report on Thursday, August 6th. TD Cowen raised their price objective on shares of Exelixis from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. BMO Capital Markets started coverage on shares of Exelixis in a research note on Tuesday, August 18th. They set a “market perform” rating and a $54.00 target price on the stock. Finally, Zacks Research lowered shares of Exelixis from a “hold” rating to a “strong sell” rating in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $50.07.
View Our Latest Report on EXEL
About Exelixis (Free Report)
Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.
The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.
Recommended Stories Five stocks we like better than Exelixis VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You? 3 Closed-End Funds to Maximize Dividend Payments Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy? $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over
Receive News & Ratings for Exelixis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exelixis and related companies with MarketBeat.com's FREE daily email newsletter.
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
Zacks Premium includes access to the Zacks Style Scores as well.
What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.94% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Exelixis (EXEL - Free Report) Alameda, CA-based Exelixis, Inc. is an oncology-focused biotechnology company that primarily focuses on the discovery, development and commercialization of new drugs for the treatment of difficult-to-treat cancers. The company is leveraging its investments, expertise and strategic partnerships to target an expanding range of tumor types and indications with its clinically differentiated pipeline of small molecules, antibody-drug conjugates (ADCs) and other biotherapeutics.
EXEL is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
Additionally, the company could be a top pick for growth investors. EXEL has a Growth Style Score of A, forecasting year-over-year earnings growth of 15.6% for the current fiscal year.
For fiscal 2026, three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.03 to $3.56 per share. EXEL boasts an average earnings surprise of +14.7%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, EXEL should be on investors' short list.
NEW YORK, Aug. 19, 2026 /PRNewswire/ -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of EXELIXIS, Inc. ( NASDAQ : EXEL) breached their fiduciary duties to shareholders. The investigation concerns potential self-dealing.
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.94% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That's where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Exelixis (EXEL - Free Report) Alameda, CA-based Exelixis, Inc. is an oncology-focused biotechnology company that primarily focuses on the discovery, development and commercialization of new drugs for the treatment of difficult-to-treat cancers. The company is leveraging its investments, expertise and strategic partnerships to target an expanding range of tumor types and indications with its clinically differentiated pipeline of small molecules, antibody-drug conjugates (ADCs) and other biotherapeutics.
EXEL is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 14.69; value investors should take notice.
Three analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.03 to $3.56 per share. EXEL also boasts an average earnings surprise of +14.7%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, EXEL should be on investors' short list.
Exelixis posted second-quarter revenue of approximately $628.7 million -- short of Wall Street consensus -- and shares sold off in after-hours trading. Levi & Korsinsky is investigating.
, /PRNewswire/ -- A revenue miss, not an earnings miss, drove Exelixis, Inc. (NASDAQ: EXEL) shares lower after the Company reported approximately $628.7 million in second-quarter revenue -- below analyst consensus -- and the stock declined. If you purchased EXEL shares and lost money, you are encouraged to submit your losses for review now . You may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
Adjusted earnings came in at $0.91 per share, above estimates. The market reaction went the other way: coverage of the report identified the top-line shortfall against consensus -- not profitability -- as the driver of the decline. Exelixis also lowered and narrowed its full-year 2026 revenue outlook alongside the results, attributing the change to a slower-than-expected ramp in its neuroendocrine-tumor business.
Levi & Korsinsky is investigating potential securities law violations on behalf of Exelixis investors who suffered losses in connection with the Company's second-quarter results and the revised revenue outlook.
Shareholders who lost money on EXEL are encouraged to have their claim evaluated at no cost , or call (212) 363-7500.
ABOUT THE FIRM -- For over two decades, Levi & Korsinsky has represented shareholders in securities class actions. Ranked in ISS Top 50 for seven consecutive years.
Frequently Asked Questions About the EXEL Investigation
Q: How much did EXEL stock drop? A: Shares declined approximately 7.9% after Exelixis reported approximately $628.7 million in second-quarter revenue, below Wall Street consensus, and lowered and narrowed its full-year 2026 revenue outlook. Investors who purchased shares and suffered losses may be eligible to seek recovery.
Q: Who is eligible to participate in the EXEL investigation? A: Investors who purchased EXEL stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses -- not on whether you still hold the shares.
Q: What is the EXEL securities investigation about? A: A securities investigation is pending concerning Exelixis, Inc. (NASDAQ: EXEL) regarding potentially materially false or misleading statements. Shares fell after the Company reported second-quarter revenue below consensus and reduced its full-year 2026 revenue guidance, citing a slower-than-expected neuroendocrine-tumor ramp.
Q: What do EXEL investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at [email protected] or (212) 363-7500.
Q: What documents do I need to participate? A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.
Q: What if I already sold my EXEL shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought EXEL and sold at a loss may still participate in the investigation.
Q: What does it cost me to participate? A: There is no upfront cost. Securities investigations and any resulting actions are generally handled on a contingency basis -- no retainer and no out-of-pocket costs.
Q: Do I need to go to court or give testimony? A: No. Participating in the investigation does not require court appearances or depositions.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
Attorney Advertising. Prior results do not guarantee similar outcomes.
[url="]Schall, Brown and Schwartz[/url] LLP (âSBSâ), a national shareholder rights litigation firm, announces that it is investigating claims on behalf of inv
LOS ANGELES--(BUSINESS WIRE)--Schall, Brown & Schwartz LLP (“SBS”), a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Exelixis, Inc. (“Exelixis” or “the Company”) (NASDAQ: EXEL) for violations of the securities laws.
INVESTIGATION DETAILS: The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Exelixis missed analyst consensus estimates with its Q2 revenue and also lowered its full-year 2026 revenue guidance.
The revenue shortfall came alongside an adjusted EPS beat of $0.91 per share. Investors sold on the top-line number. The Company attributed the reduced full-year outlook to a slower-than-expected ramp in its neuroendocrine-tumor business -- a franchise Exelixis had described to investors as a market-leading position for CABOMETYX in the oral second-line plus segment.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall or David Schwartz of Schall, Brown & Schwartz LLP, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected]
WHY SBS? Schall, Brown & Schwartz LLP represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. Bringing together the extensive experience and diverse skillsets of founding partners Brian Schall, Andrew Brown, and David Schwartz, SBS is dedicated to aggressively advocating for every investor.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
Exelixis reported an adjusted earnings beat of $0.91 per share for the second quarter. Revenue came in at approximately $628.7 million -- below Wall Street consensus -- and the stock fell Exelixis reported an adjusted earnings beat of $0.91 per share for the second quarter. Revenue came in at approximately $628.7 million -- below Wall Street consensus -- and the stock fell
NEW YORK--(BUSINESS WIRE)--Exelixis (NASDAQ: EXEL) shares dropped in after-hours trading after the Company reported Q2 revenue of approximately $628.7 million, missing consensus estimates, and lowered and narrowed its full-year 2026 revenue outlook. If you suffered a loss on your Exelixis investment, you are encouraged to submit your information here. You may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500. The revenue shortfall came alon.
Exelixis lowered and narrowed its full-year 2026 revenue guidance, citing a slower-than-expected neuroendocrine-tumor ramp -- and shares declined. SueWallSt notifies investors of a pending investigation into potential securities claims on behalf of EXEL shareholders.
, /PRNewswire/ -- A reduced full-year 2026 revenue outlook at Exelixis, Inc. (NASDAQ: EXEL) -- attributed to a slower-than-expected ramp in the Company's neuroendocrine-tumor business -- sent shares lower following the Company's second-quarter report. Shareholders who lost money on EXEL are encouraged to submit their information here before the investigation concludes. You may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (888) SueWallSt.
The guidance reduction followed the Company's reiteration of its full-year 2026 financial outlook on May 5, 2026. On that call, Chief Financial Officer Christopher Senner stated: "Finally, we are reiterating our full year 2026 financial guidance." Weeks later, that revenue guidance was both lowered and narrowed.
The stated reason for the reduction was the pace of the neuroendocrine-tumor ramp. On the same May 5 call, Chief Executive Officer Michael Morrissey described CABOMETYX as continuing "to grow in revenue, demand, and market share as the leading TKI for RCC and the market leader for neuroendocrine tumors in the oral second-line plus segment." Second-quarter revenue came in at approximately $628.7 million.
Investors who purchased Exelixis shares and suffered a loss are encouraged to have their losses evaluated at no cost or call (888) SueWallSt.
WHY SUEWALLST : SueWallSt is powered by Levi & Korsinsky LLP. Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
Frequently Asked Questions About the EXEL Investigation
Q: Who is eligible to participate in the EXEL investigation? A: Investors who purchased EXEL stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses -- not on whether you still hold the shares.
Q: Which statements are being investigated as potentially misleading? A: The investigation concerns whether Exelixis made materially false or misleading statements regarding its full-year 2026 revenue guidance and the commercial ramp of its neuroendocrine-tumor business. When the Company lowered and narrowed that revenue outlook, the stock price declined.
Q: What is the EXEL securities investigation about? A: A securities investigation is pending concerning Exelixis, Inc. (NASDAQ: EXEL) regarding potentially materially false or misleading statements. Shares fell after the Company disclosed second-quarter revenue of approximately $628.7 million -- below Wall Street consensus -- and reduced its full-year 2026 revenue guidance, causing losses for shareholders.
Q: What do EXEL investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at [email protected] or (212) 363-7500. No immediate action is required to remain eligible to participate in the investigation.
Q: What documents do I need to participate? A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.
Q: What if I already sold my EXEL shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought EXEL and sold at a loss may still participate in the investigation.
Q: What does it cost me to participate? A: There is no upfront cost to participate. Securities investigations and any resulting actions are generally handled on a contingency basis. No upfront fees, no retainer, and no out-of-pocket costs.
Q: Do I need to go to court or give testimony? A: No. Participating in the investigation does not require court appearances or depositions.
Q: What if I live outside the United States? A: U.S. securities investigations generally cover purchases on U.S. exchanges regardless of the investor's country of residence.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (888) SueWallSt
Fax: (212) 363-7171
Attorney Advertising. Prior results do not guarantee similar outcomes.
On May 5, 2026, Exelixis management reiterated full-year 2026 financial guidance. Weeks later, the Company lowered and narrowed that revenue outlook -- and the stock fell.
, /PRNewswire/ -- Exelixis, Inc. (NASDAQ: EXEL) reiterated its full-year 2026 financial guidance on its May 5, 2026 earnings call. Following its second quarter results, the Company lowered and narrowed that same revenue outlook, and shares declined. If you lost money on EXEL, you are encouraged to submit your loss information now. You may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
On the May 5, 2026 call, Chief Financial Officer Christopher Senner stated: "Finally, we are reiterating our full year 2026 financial guidance, which is detailed on slide 16 of our earnings presentation." Chief Executive Officer Michael Morrissey told investors Exelixis was "off to a strong start in 2026" and that CABOMETYX "continued to grow in revenue, demand, and market share as the leading TKI for RCC and the market leader for neuroendocrine tumors in the oral second-line plus segment."
When the Company subsequently reduced its full-year 2026 revenue guidance, it attributed the change to a slower-than-expected ramp in its neuroendocrine-tumor business. Quarterly revenue of approximately $628.7 million came in below Wall Street consensus. The investigation concerns when management first identified the slower ramp relative to the date guidance was reiterated.
Shareholders who purchased EXEL and suffered losses may have their claims evaluated at no cost or call (212) 363-7500.
WHY LEVI & KORSINSKY -- Ranked in ISS Securities Class Action Services' Top 50 Report for seven consecutive years, Levi & Korsinsky, LLP is a nationally recognized leader in shareholder rights litigation. With a team of over 70 professionals, the firm has recovered hundreds of millions of dollars for investors.
Frequently Asked Questions About the EXEL Investigation
Q: Which statements are being investigated as potentially misleading? A: The investigation concerns whether Exelixis made materially false or misleading statements regarding its full-year 2026 revenue guidance and the commercial ramp of its neuroendocrine-tumor business. After the Company lowered and narrowed that guidance, the stock price declined.
Q: When did Exelixis allegedly mislead investors? A: The investigation concerns statements made before the guidance reduction that allegedly caused investors to purchase securities at inflated prices, including the May 5, 2026 reiteration of full-year 2026 financial guidance.
Q: Who is eligible to participate in the EXEL investigation? A: Investors who purchased EXEL stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses -- not on whether you still hold the shares.
Q: What do EXEL investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at [email protected] or (212) 363-7500.
Q: What documents do I need to participate? A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.
Q: What if I already sold my EXEL shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought EXEL and sold at a loss may still participate in the investigation.
Q: What does it cost me to participate? A: There is no upfront cost to participate. Securities investigations and any resulting actions are generally handled on a contingency basis. No upfront fees, no retainer, and no out-of-pocket costs.
Q: Do I need to go to court or give testimony? A: No. Participating in the investigation does not require court appearances or depositions.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
Attorney Advertising. Prior results do not guarantee similar outcomes.
Amundi cut its position in Exelixis, Inc. (NASDAQ:EXEL – Free Report) by 77.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,398 shares of the biotechnology company’s stock after selling 121,348 shares during the quarter. Amundi’s holdings in Exelixis were worth $1,475,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of EXEL. AQR Capital Management LLC grew its position in Exelixis by 48.8% in the 4th quarter. AQR Capital Management LLC now owns 13,658,388 shares of the biotechnology company’s stock worth $598,647,000 after purchasing an additional 4,477,029 shares during the last quarter. Norges Bank bought a new stake in shares of Exelixis in the fourth quarter valued at about $106,460,000. UBS Group AG grew its position in Exelixis by 100.1% during the third quarter. UBS Group AG now owns 2,655,069 shares of the biotechnology company’s stock worth $109,654,000 after buying an additional 1,328,087 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Exelixis by 1,821.0% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,188,105 shares of the biotechnology company’s stock worth $52,075,000 after buying an additional 1,126,256 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Exelixis by 111.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,115,456 shares of the biotechnology company’s stock valued at $92,720,000 after acquiring an additional 1,113,916 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.
Trending Headlines about Exelixis Here are the key news stories impacting Exelixis this week:
Positive Sentiment: Exelixis reported second-quarter EPS of $0.91, ahead of the $0.85-$0.86 analyst consensus and up from $0.75 a year earlier. Revenue rose 10.6% year over year to approximately $628.7 million, while the company continues to benefit from its established cabozantinib business. Exelixis Q2 earnings Positive Sentiment: The company launched a new Phase 3 trial testing zanzalintinib in residual colorectal cancer, expanding the potential market for its pipeline and providing another long-term growth catalyst. Exelixis colorectal cancer trial Positive Sentiment: TD Cowen reaffirmed a Buy rating and a $55 price target, citing resilience in cabozantinib, cost discipline and upside from zanzalintinib despite near-term guidance pressure. Neutral Sentiment: Stifel raised its price target from $47 to $51 but retained a Hold rating. Its target remains below the recent trading level, suggesting limited near-term upside in the analyst’s view. Negative Sentiment: Exelixis lowered the midpoint of its 2026 revenue outlook by $50 million, primarily because the NET launch has been slower than expected. Although the EPS beat was encouraging, the revenue miss and reduced outlook are weighing on growth expectations. Exelixis 2026 guidance Negative Sentiment: Leerink Partners downgraded EXEL from Outperform to Market Perform and set a $52 price target, below the recent share price. Leerink Partners downgrade Negative Sentiment: Zacks Research maintains a Strong Sell rating and made small reductions to its FY2026-FY2028 EPS forecasts, including a FY2026 estimate of $3.12 versus the broader consensus of $3.15. Exelixis Price Performance Shares of NASDAQ:EXEL opened at $54.07 on Friday. The firm’s 50 day simple moving average is $54.17 and its 200 day simple moving average is $47.94. Exelixis, Inc. has a fifty-two week low of $33.76 and a fifty-two week high of $57.57. The company has a market capitalization of $13.59 billion, a price-to-earnings ratio of 17.00, a P/E/G ratio of 1.51 and a beta of 0.44.
Exelixis (NASDAQ:EXEL – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. The company had revenue of $628.69 million during the quarter, compared to analyst estimates of $636.40 million. Exelixis had a net margin of 35.33% and a return on equity of 42.17%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.75 EPS. Equities research analysts expect that Exelixis, Inc. will post 3.15 earnings per share for the current year.
Insider Buying and Selling at Exelixis In related news, CFO Christopher J. Senner sold 34,901 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $50.00, for a total value of $1,745,050.00. Following the completion of the transaction, the chief financial officer directly owned 952,317 shares of the company’s stock, valued at approximately $47,615,850. This represents a 3.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dana Aftab sold 43,451 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $50.35, for a total value of $2,187,757.85. Following the transaction, the executive vice president owned 594,741 shares of the company’s stock, valued at approximately $29,945,209.35. This trade represents a 6.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 130,824 shares of company stock worth $6,555,231 in the last quarter. Company insiders own 2.60% of the company’s stock.
Wall Street Analyst Weigh In A number of equities analysts have recently issued reports on the stock. Truist Financial dropped their price objective on shares of Exelixis from $56.00 to $52.00 and set a “hold” rating for the company in a research note on Thursday. TD Cowen lifted their target price on shares of Exelixis from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Leerink Partners cut shares of Exelixis from an “outperform” rating to a “market perform” rating and set a $52.00 target price on the stock. in a research note on Thursday. Wall Street Zen lowered shares of Exelixis from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, UBS Group set a $55.00 price target on shares of Exelixis in a research note on Monday. Seven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Exelixis has a consensus rating of “Hold” and an average price target of $49.79.
Read Our Latest Stock Analysis on EXEL
Exelixis Profile (Free Report)
Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.
The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.
Recommended Stories Five stocks we like better than Exelixis Datadog’s Drop Says More About Expectations Than Earnings D-Wave’s Quantum Breakthrough Couldn’t Save QBTS From a Sell-Off Cloudflare’s Beat-and-Raise Quarter Puts Its AI Edge Story in Focus Solventum Nears Inflection Point As It Begins to Unlock Value Want to see what other hedge funds are holding EXEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Exelixis, Inc. (NASDAQ:EXEL – Free Report).
Receive News & Ratings for Exelixis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exelixis and related companies with MarketBeat.com's FREE daily email newsletter.
« PREVIOUS HEADLINEAmundi Purchases 3,054 Shares of ESCO Technologies Inc. $ESE
Arkadios Wealth Advisors bought a new position in Exelixis, Inc. (NASDAQ:EXEL – Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 11,098 shares of the biotechnology company’s stock, valued at approximately $476,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC grew its stake in shares of Exelixis by 48.8% during the fourth quarter. AQR Capital Management LLC now owns 13,658,388 shares of the biotechnology company’s stock valued at $598,647,000 after buying an additional 4,477,029 shares during the last quarter. Norges Bank purchased a new stake in shares of Exelixis during the fourth quarter valued at approximately $106,460,000. UBS Group AG boosted its stake in shares of Exelixis by 100.1% during the third quarter. UBS Group AG now owns 2,655,069 shares of the biotechnology company’s stock valued at $109,654,000 after purchasing an additional 1,328,087 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of Exelixis by 1,821.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,188,105 shares of the biotechnology company’s stock worth $52,075,000 after purchasing an additional 1,126,256 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Exelixis by 111.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,115,456 shares of the biotechnology company’s stock worth $92,720,000 after purchasing an additional 1,113,916 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.
Wall Street Analysts Forecast Growth A number of research firms recently commented on EXEL. HC Wainwright reiterated a “buy” rating and set a $56.00 price target on shares of Exelixis in a report on Thursday, July 2nd. Royal Bank Of Canada boosted their price objective on shares of Exelixis from $43.00 to $46.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 7th. Morgan Stanley upped their price objective on shares of Exelixis from $50.00 to $53.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Wells Fargo & Company boosted their price target on Exelixis from $40.00 to $49.00 and gave the company an “equal weight” rating in a report on Monday, July 13th. Finally, Wall Street Zen lowered Exelixis from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $49.79.
View Our Latest Analysis on Exelixis
Insider Activity at Exelixis In related news, SVP Brenda Hefti sold 6,625 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $50.21, for a total transaction of $332,641.25. Following the completion of the sale, the senior vice president owned 106,762 shares in the company, valued at approximately $5,360,520.02. This trade represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Senner sold 34,901 shares of Exelixis stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $50.00, for a total transaction of $1,745,050.00. Following the sale, the chief financial officer owned 952,317 shares in the company, valued at approximately $47,615,850. The trade was a 3.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 130,824 shares of company stock worth $6,555,231 in the last 90 days. Company insiders own 2.60% of the company’s stock.
Exelixis Trading Up 3.6% NASDAQ:EXEL opened at $54.07 on Friday. Exelixis, Inc. has a 12 month low of $33.76 and a 12 month high of $57.57. The company has a market cap of $13.59 billion, a PE ratio of 17.00, a price-to-earnings-growth ratio of 1.51 and a beta of 0.44. The company has a 50 day simple moving average of $54.17 and a two-hundred day simple moving average of $47.94.
Exelixis (NASDAQ:EXEL – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. The firm had revenue of $628.69 million during the quarter, compared to analyst estimates of $636.40 million. Exelixis had a return on equity of 42.17% and a net margin of 35.33%.Exelixis’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 EPS. Research analysts forecast that Exelixis, Inc. will post 3.15 earnings per share for the current year.
Exelixis News Summary Here are the key news stories impacting Exelixis this week:
Positive Sentiment: Exelixis reported second-quarter EPS of $0.91, ahead of the $0.85-$0.86 analyst consensus and up from $0.75 a year earlier. Revenue rose 10.6% year over year to approximately $628.7 million, while the company continues to benefit from its established cabozantinib business. Exelixis Q2 earnings Positive Sentiment: The company launched a new Phase 3 trial testing zanzalintinib in residual colorectal cancer, expanding the potential market for its pipeline and providing another long-term growth catalyst. Exelixis colorectal cancer trial Positive Sentiment: TD Cowen reaffirmed a Buy rating and a $55 price target, citing resilience in cabozantinib, cost discipline and upside from zanzalintinib despite near-term guidance pressure. Neutral Sentiment: Stifel raised its price target from $47 to $51 but retained a Hold rating. Its target remains below the recent trading level, suggesting limited near-term upside in the analyst’s view. Negative Sentiment: Exelixis lowered the midpoint of its 2026 revenue outlook by $50 million, primarily because the NET launch has been slower than expected. Although the EPS beat was encouraging, the revenue miss and reduced outlook are weighing on growth expectations. Exelixis 2026 guidance Negative Sentiment: Leerink Partners downgraded EXEL from Outperform to Market Perform and set a $52 price target, below the recent share price. Leerink Partners downgrade Negative Sentiment: Zacks Research maintains a Strong Sell rating and made small reductions to its FY2026-FY2028 EPS forecasts, including a FY2026 estimate of $3.12 versus the broader consensus of $3.15. About Exelixis (Free Report)
Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.
The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.
Featured Stories Five stocks we like better than Exelixis Datadog’s Drop Says More About Expectations Than Earnings D-Wave’s Quantum Breakthrough Couldn’t Save QBTS From a Sell-Off Cloudflare’s Beat-and-Raise Quarter Puts Its AI Edge Story in Focus Solventum Nears Inflection Point As It Begins to Unlock Value
Receive News & Ratings for Exelixis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exelixis and related companies with MarketBeat.com's FREE daily email newsletter.
« PREVIOUS HEADLINEArbiter Partners Capital Management LLC Invests $740,000 in Microsoft Corporation $MSFT
NEXT HEADLINE »Assenagon Asset Management S.A. Sells 31,581 Shares of Spotify Technology $SPOT
Key Takeaways EXEL beat Q2 EPS estimates but missed revenue expectations and lowered its 2026 revenue guidance. EXEL said slower uptake in the NET indication led to reduced product revenue expectations. EXEL continues advancing zanzalintinib, with an FDA decision due by Dec. 3, 2026, and many trials underway. Exelixis, Inc. (EXEL - Free Report) reported mixed results for the second quarter of 2026 and lowered its annual outlook.
Adjusted earnings per share (EPS) of 82 cents comfortably beat the Zacks Consensus Estimate of 75 cents. The company posted adjusted EPS of 65 cents in the year-ago quarter. Adjusted earnings excluded the impact of stock-based compensation expenses.
Including stock-based compensation expense, EPS was 82 cents compared with 65 cents in the year-ago period.
The bottom-line growth benefited from higher operating income and a decrease in shares outstanding due to ongoing buybacks.
Revenues rose 10.6% year over year to $628.7 million but missed the Zacks Consensus Estimate of $635 million.
The stock is trading down in response to the second-quarter results.
Year to date, Exelixis’ shares have risen 25.5% compared with the industry’s growth of 3.6%.
Image Source: Zacks Investment Research
EXEL's Product Sales Maintain GrowthNet product revenues increased to $573.03 million from $520.01 million in the year-ago quarter, primarily due to higher sales volume.
Cabometyx (cabozantinib) generated revenues of $570.6 million, which missed the Zacks Consensus Estimate of $578 million and our model estimate of $575 million. The drug is approved for advanced renal cell carcinoma (RCC) and previously treated hepatocellular carcinoma.
Cabometyx remained the leading prescribed tyrosine kinase inhibitor (TKI) in RCC. Its total prescription share within the company’s tracked oral TKI market basket increased to 47% from 45% a year earlier, while prescription volume rose 12%, outpacing the market basket’s 6% growth.
In March 2025, Exelixis obtained FDA approval for the label expansion of Cabometyx for the treatment of adult and pediatric patients 12 years of age and older with previously treated, unresectable, locally advanced or metastatic, well-differentiated pancreatic and extra-pancreatic neuroendocrine tumors (pNET). The drug was also approved for adult and pediatric patients 12 years of age and older with previously treated, unresectable, locally advanced or metastatic, well-differentiated extra-pancreatic NET (epNET).
However, the neuroendocrine tumor indication expanded more gradually than management had projected. Exelixis attributed the slower ramp to the relatively indolent nature of NET, less frequent patient scans and longer transitions between therapies.
Cometriq (cabozantinib capsules) generated $2.4 million in net product revenues for treating medullary thyroid cancer.
Collaboration revenues rose 15.4% to $55.7 million. The improvement reflected higher royalties on cabozantinib sales outside the United States by partner Ipsen, partly offset by lower development cost reimbursements. Exelixis earned $53.2 million in royalty revenues from partners Ipsen and Takeda during the quarter.
EXEL's Costs Rise as Operating Income ExpandsResearch and development expenses increased 5.8% year over year to $211.99 million due to higher clinical trial, manufacturing and collaboration costs as Exelixis continued investing in zanzalintinib and other pipeline candidates.
Selling, general and administrative expenses rose 9.5% to $147.63 million, reflecting higher marketing and personnel costs. Despite the increased spending, operating income climbed 16.3% to $248.41 million, and the operating margin expanded to 39.5% from 37.6%.
Exelixis Lowers Its 2026 Revenue OutlookManagement lowered and narrowed its 2026 total revenue guidance to $2.50-$2.55 billion from $2.525-$2.625 billion. Net product revenue guidance was reduced to $2.30-$2.35 billion from $2.325-$2.425 billion, primarily because of the slower-than-expected NET ramp.
The revised outlook excludes potential revenues from zanzalintinib in previously treated metastatic colorectal cancer. Exelixis also reduced its R&D expense forecast to $825-$875 million from $875-$925 million. Its SG&A expense projection remained unchanged at $575-$625 million.
EXEL Advances Share Repurchase ProgramExelixis repurchased $311.6 million of the company’s shares in the second quarter, completing the $750 million share repurchase program (SRP) launched in October 2025.
The company also began repurchases under a new $750 million SRP authorized in May 2026, which runs through Dec. 31, 2027. Since launching its first SRP in March 2023, Exelixis has repurchased $2.9 billion of stock, retiring 93.3 million shares at an average price of $31.12 per share as of the end of the second quarter of 2026.
EXEL Advances Its Zanzalintinib PipelineThe FDA is reviewing zanzalintinib in combination with Roche’s (RHHBY - Free Report) Tecentriq for previously treated metastatic colorectal cancer, with a target action date of Dec. 3, 2026. Its approval would establish zanzalintinib as Exelixis’ second commercial oncology franchise and broaden its portfolio beyond cabozantinib.
In June 2026, Exelixis reported final phase III STELLAR-303 results showing a non-statistically significant overall survival trend favoring zanzalintinib plus Tecentriq over regorafenib in the non-liver metastases (NLM) subgroup of previously treated non-MSI-high metastatic colorectal cancer. The study had previously met its other dual primary endpoint of overall survival in the intent-to-treat population, which included all randomized patients regardless of the presence of active liver metastases, as reported in June 2025.
Roche’s Tecentriq is a cancer immunotherapy that is approved around the world, either alone or in combination with targeted therapies and/or chemotherapies, for various types of cancer.
EXEL has collaborated with Merck & Co. (MRK - Free Report) to evaluate zanzalintinib, in combination with subcutaneous Keytruda Qlex in the planned phase III STELLAR-316 study for resected stage II/III colorectal cancer (CRC).
Under the agreement, Exelixis will sponsor the STELLAR-316 study, while Merck will provide Keytruda Qlex for use in the same. Keytruda is approved for several types of cancer.
Exelixis expects to initiate STELLAR-316 shortly, which will evaluate zanzalintinib with and without Keytruda Qlex in patients with resected stage II/III CRC who, following definitive therapy, have tested positive for molecular residual disease (MRD+) and have no radiographic evidence of disease — a high-risk population with substantial unmet need.
Earlier this year, Exelixis partnered with Natera (NTRA), a global leader in cell-free DNA and precision medicine, for this study.
Natera will supply its Signatera assay to identify eligible MRD-positive patients for enrollment, further integrating precision medicine into the program.
The Merck partnership extends beyond colorectal cancer. In April 2026, Merck initiated the phase III LITESPARK-034 trial evaluating zanzalintinib plus Welireg versus Welireg and placebo in previously treated advanced RCC patients who progressed after PD-1/L1 and VEGFR-TKI therapies.
This marks the second Merck-sponsored phase III study under the collaboration, following LITESPARK-033 (launched in December 2025), which is assessing the combination against cabozantinib in first-line advanced RCC post-adjuvant immunotherapy.
In May 2026, Exelixis announced the initiation of STELLAR-201, a phase II study evaluating zanzalintinib in patients with recurrent Grade I/II/III meningioma with relapse or progression following radiation and/or surgery or those who are not candidates for these therapies.
Our Take on EXEL’s Q2 PerformanceWhile EXEL beat earnings expectations and Cabometyx remains the leading prescribed TKI in RCC, the revenue miss and lowered guidance underscore the company's continued reliance on Cabometyx and uncertainty around the pace of the NET franchise ramp.
Zanzalintinib represents the company’s most significant near-term catalyst. A potential approval for the candidate will be a significant boost for EXEL’s oncology pipeline.
EXEL’s Zacks RankExelixis currently carries a Zacks Rank #4 (Sell).
Exelixis (EXEL - Free Report) reported $628.69 million in revenue for the quarter ended June 2026, representing a year-over-year increase of 10.6%. EPS of $0.91 for the same period compares to $0.75 a year ago.
The reported revenue represents a surprise of -0.99% over the Zacks Consensus Estimate of $635 million. With the consensus EPS estimate being $0.86, the EPS surprise was +5.81%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Exelixis performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Net product revenues: $573.03 million versus the six-analyst average estimate of $582.81 million. The reported number represents a year-over-year change of +10.2%.Revenues- Collaboration revenues: $55.67 million versus $52.17 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +15.4% change.Revenues- Net product revenues- CABOMETYX: $570.6 million versus the five-analyst average estimate of $578.01 million. The reported number represents a year-over-year change of +10.2%.Revenues- Net product revenues- COMETRIQ: $2.4 million versus $2.75 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +13% change.Revenues- Collaboration revenues- Collaboration services revenues: $-4.15 million compared to the $2.24 million average estimate based on two analysts. The reported number represents a change of +293.3% year over year.Revenues- Collaboration revenues- License revenues: $59.81 million compared to the $52.31 million average estimate based on two analysts. The reported number represents a change of +21.3% year over year.View all Key Company Metrics for Exelixis here>>>
Shares of Exelixis have returned -1.9% over the past month versus the Zacks S&P 500 composite's +3.5% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Exelixis Reports Solid Earnings—Are New Highs Back on the Table?Exelixis NASDAQ: EXEL reported second-quarter 2026 revenue of approximately $629 million, including $573 million in cabozantinib franchise net product revenue, as the company prepared for a potential late-year launch of zanzalintinib in colorectal cancer and advanced a broader development program for the drug candidate.
Get Exelixis alerts:
President and Chief Executive Officer Mike Morrissey said the company is entering its next growth phase as it seeks to build a multi-franchise oncology business beyond cabozantinib, marketed as CABOMETYX. Zanzalintinib, or Zanza, is Exelixis’ highest research and development priority and is under FDA review in combination with atezolizumab for previously treated colorectal cancer.
3 Stocks to Buy for a Soft Landing, If There Is OneThe FDA has set a PDUFA date in early December for the Zanza colorectal cancer application, which is supported by results from the STELLAR-303 trial. Morrissey described the potential colorectal cancer approval as an important first step toward establishing Zanza as Exelixis’ second oncology franchise.
Cabozantinib Revenue Grows, but Guidance Is Reduced U.S. cabozantinib franchise net product revenue increased about 10% year over year to $573 million in the second quarter, while global cabozantinib franchise net product revenue, including partner sales, rose about 13% to $806 million, according to Morrissey.
3 Strong Biotech Performers To Watch As Sector Nears BreakoutChief Financial Officer Chris Senner said CABOMETYX net product revenue totaled $571 million, including approximately $2.7 million in clinical trial sales. The company also recorded about $53 million in royalties from partners Ipsen and Takeda related to their cabozantinib sales.
Exelixis lowered and narrowed its full-year 2026 total revenue and net product revenue outlook, reducing the midpoint by $50 million. Senner said the update reflects modestly slower growth due to a more gradual-than-expected ramp in the neuroendocrine tumor, or NET, indication.
The company also reduced its R&D expense guidance, lowering the midpoint of that range by $50 million. Morrissey said Exelixis expects projected free cash flow to remain essentially unchanged as it balances investment in its pivotal trials with expense discipline.
P.J. Haley, executive vice president of commercial, said the slower NET revenue ramp was tied to characteristics of the patient population rather than a change in the company’s long-term view of the market. NET tumors can be more indolent than other solid tumors, and patients may be scanned less frequently, remain on their existing treatment longer, or take treatment breaks before moving to a subsequent therapy.
Despite those dynamics, Haley said CABOMETYX achieved more than 45% of oral second-line-plus new-patient market share in NET during the quarter. He said increasing new-patient share should support refills and future demand.
CABOMETYX total prescription share in an oral TKI market basket increased to 47% in the second quarter, from 45% a year earlier. CABOMETYX prescription volume rose 12% year over year, compared with 6% growth for the overall market basket cited by the company. Exelixis said CABOMETYX remains the leading prescribed TKI in renal cell carcinoma and the leading TKI-plus-immunotherapy combination in first-line RCC. Profitability and Capital Returns Exelixis reported GAAP net income of approximately $212 million, or $0.82 per diluted share, for the second quarter. The company reported non-GAAP net income of approximately $237 million, or $0.91 per diluted share, excluding roughly $25 million of stock-based compensation net of related tax effects.
Operating expenses totaled approximately $380 million, up from $359 million in the first quarter. Senner attributed the sequential increase primarily to higher clinical trial costs, marketing expenses and stock-based compensation.
Cash and marketable securities totaled approximately $1.4 billion as of June 30. During the quarter, Exelixis repurchased approximately $312 million of common stock, retiring about 6.5 million shares at an average price of $47.85 per share. The company completed its October 2025 repurchase program and had approximately $598 million remaining under a $750 million authorization approved in May 2026.
Zanza Program Advances Across Multiple Tumor Types Dana Aftab, executive vice president of research and development, said Exelixis has seven ongoing or imminent pivotal studies for Zanza. The company expects top-line results from STELLAR-304, a phase III trial of Zanza plus nivolumab versus sunitinib in locally advanced or metastatic non-clear cell renal cell carcinoma, in the second half of 2026.
Exelixis completed enrollment in STELLAR-304 last year. Aftab said the study is the first large, global randomized phase III trial focused on non-clear cell RCC, which represents approximately 20% of RCC cases. Positive results could support the company’s second new drug application for Zanza, she said.
The company is also preparing to begin screening patients this month in STELLAR-316, a trial in resected stage II or III colorectal cancer patients who test positive for molecular residual disease after definitive therapy but have no radiographic evidence of disease. The study will evaluate Zanza with and without subcutaneous pembrolizumab.
In NET, the STELLAR-311 phase III trial is comparing Zanza with everolimus as an initial oral therapy in pancreatic or extrapancreatic NET. Aftab said enrollment is running months ahead of projections.
Other development efforts include Merck-led phase III trials evaluating Zanza plus belzutifan in clear-cell RCC, an expansion cohort in metastatic bladder cancer after progression on enfortumab vedotin plus pembrolizumab, and a cohort studying Zanza with docetaxel in metastatic castration-resistant prostate cancer.
Exelixis also said enrollment in its phase II STELLAR-201 study in recurrent meningioma is exceeding initial projections. The trial is enrolling up to 100 patients who have progressed after, or are no longer eligible for, local therapies. The company is designing a confirmatory phase III study while the phase II trial continues.
In addition, Exelixis expects to initiate STELLAR-202 in the second half of 2026. The phase II study will evaluate Zanza during maintenance therapy following pembrolizumab plus chemotherapy induction in squamous non-small cell lung cancer.
Regulatory Review Remains Central Focus During the question-and-answer session, executives declined to discuss potential label language for the colorectal cancer application while the FDA review remains ongoing. Aftab said the company views the application as potentially significant because, if approved, it would provide an immunotherapy-containing regimen for a broad population of patients with third-line-plus colorectal cancer.
Haley estimated the U.S. third-line-plus colorectal cancer setting includes approximately 23,000 patients and represents a $1.5 billion opportunity at contemporary pricing. He said physicians and advisory boards have expressed interest in the STELLAR-303 data and in the potential availability of an immune checkpoint inhibitor-containing regimen for the broader colorectal cancer population.
Morrissey said Exelixis continues to evaluate options for partnering Zanza outside the U.S., noting that the company has received interest but has not made a decision.
About Exelixis (NASDAQ:EXEL)Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis's translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.
The company's most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Should You Invest $1,000 in Exelixis Right Now?Before you consider Exelixis, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Exelixis wasn't on the list.
While Exelixis currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Discover the 10 Best High-Yield Dividend Stocks for 2026 and secure reliable income in uncertain markets. Download the report now to identify top dividend payers and avoid common yield traps.
