- Prediction: This Stock Could Double By 2031
May 15, 2026 · fool.com
Exelixis's main product should continue driving growth through the end of the decade. The company is close to earning approval for a medicine that will take up the mantle thereafter.
- Exelixis (EXEL) is a Top-Ranked Momentum Stock: Should You Buy?
May 15, 2026 · zacks.com
Wondering how to pick strong, market-beating stocks for your investment portfolio? Look no further than the Zacks Style Scores.
- Exelixis, Inc. (EXEL) Presents at Bank of America Global Healthcare Conference 2026 Transcript
May 12, 2026 · seekingalpha.com
Exelixis, Inc. (EXEL) Presents at Bank of America Global Healthcare Conference 2026 Transcript
- TD Cowen Sees Pipeline Growth Opportunities Supporting Exelixis, Inc. (EXEL) Outlook
May 11, 2026
We recently compiled a list of the 10 Best Cancer Stocks to Buy for the Long Term. Exelixis, Inc. is one of the best cancer stocks on this list.
TheFly reported on May 6 that EXEL received an updated valuation outlook as TD Cowen increased its price target to $55 from $51 while reaffirming a Buy rating on the stock. The firm highlighted newly announced combination studies involving zanza in non-small cell lung cancer (NSCLC) and metastatic castration-resistant prostate cancer (mCRPC), noting that these programs support the company’s broader expansion efforts. However, it also pointed out that the overall growth narrative remains mixed, given earlier setbacks associated with cabo-based therapies.
Additionally, alongside its Q1 update on May 5, Exelixis, Inc. (NASDAQ:EXEL) confirmed that it is keeping its fiscal 2026 revenue outlook unchanged at $2.525 billion to $2.625 billion. The company noted that this forecast does not include any potential contribution from a future U.S. approval and launch of zanzalintinib for previously treated metastatic colorectal cancer when combined with atezolizumab.TD Cowen Sees Pipeline Growth Opportunities Supporting Exelixis, Inc. (EXEL) Outlook
That application is currently under review by the U.S. Food and Drug Administration. Management indicated that the existing guidance only reflects currently approved products and ongoing operations, without factoring in possible upside from this pending regulatory decision.
Exelixis, Inc. (NASDAQ:EXEL) is an oncology-focused biopharmaceutical company based in Alameda. It develops small-molecule cancer therapies, led by CABOMETYX (cabozantinib), its main revenue driver. The company is also advancing next-generation drugs like zanzalintinib and expanding into new cancer treatment areas.
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- Exelixis to Webcast Fireside Chats as Part of Upcoming Investor Conferences in May
May 7, 2026
- Presentations to be webcast on www.exelixis.com -
ALAMEDA, Calif., May 07, 2026--(BUSINESS WIRE)--Exelixis, Inc. (Nasdaq: EXEL) today announced that company management will participate in fireside chats at the following investor conferences in May:
BofA Securities Health Care Conference 2026: Exelixis is scheduled to present at 1:00 p.m. ET / 10:00 a.m. PT on Tuesday, May 12 in Las Vegas. 2026 RBC Capital Markets Global Healthcare Conference: Exelixis is scheduled to present at 9:00 a.m. ET / 6:00 a.m. PT on Tuesday, May 19 in New York City. 2026 Stifel Virtual Targeted Oncology Forum: Exelixis is scheduled to present virtually at 1:30 p.m. ET / 10:30 a.m. PT on Wednesday, May 20. Bernstein 42nd Annual Strategic Decisions Conference: Exelixis is scheduled to present at 3:30 p.m. ET / 12:30 p.m. PT on Wednesday, May 27 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260507089944/en/
Contacts
Investors Contact:
Varant Shirvanian
Director, Investor Relations
Exelixis, Inc.
650-837-7917
vshirvanian@exelixis.com
Media Contact:
Hal Mackins
For Exelixis, Inc.
415-994-0040
hal@torchcomllc.com
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- Exelixis to Webcast Fireside Chats as Part of Upcoming Investor Conferences in May
May 7, 2026 · businesswire.com
ALAMEDA, Calif.--(BUSINESS WIRE)--Exelixis, Inc. (Nasdaq: EXEL) today announced that company management will participate in fireside chats at the following investor conferences in May: BofA Securities Health Care Conference 2026: Exelixis is scheduled to present at 1:00 p.m. ET / 10:00 a.m. PT on Tuesday, May 12 in Las Vegas. 2026 RBC Capital Markets Global Healthcare Conference: Exelixis is scheduled to present at 9:00 a.m. ET / 6:00 a.m. PT on Tuesday, May 19 in New York City. 2026 Stifel Vir.
- EXELIXIS TO WEBCAST FIRESIDE CHATS AS PART OF UPCOMING INVESTOR CONFERENCES IN MAY
May 7, 2026
ALAMEDA, CALIF.--(BUSINESS WIRE)--EXELIXIS, INC. (NASDAQ: EXEL) TODAY ANNOUNCED THAT COMPANY MANAGEMENT WILL PARTICIPATE IN FIRESIDE CHATS AT THE FOLLOWING INVESTOR CONFERENCES IN MAY: BOFA SECURITIES HEALTH CARE CONFERENCE 2026: EXELIXIS IS SCHEDULED TO PRESENT AT 1:00 P.M. ET / 10:00 A.M. PT ON TUESDAY, MAY 12 IN LAS VEGAS. 2026 RBC CAPITAL MARKETS GLOBAL HEALTHCARE CONFERENCE: EXELIXIS IS SCHEDULED TO PRESENT AT 9:00 A.M. ET / 6:00 A.M. PT ON TUESDAY, MAY 19 IN NEW YORK CITY. 2026 STIFEL VIR.
- Why Exelixis (EXEL) Is Up 9.0% After Strong Q1 2026 Earnings And New Buyback Program
May 7, 2026
Exelixis, Inc. has already reported first-quarter 2026 results, with revenue rising to US$610.81 million and net income to US$210.47 million, alongside higher earnings per share versus a year earlier. Alongside these results, Exelixis completed a prior share repurchase authorization and launched a new US$750 million buyback while advancing its cabozantinib and zanzalintinib oncology franchises. We’ll now explore how Exelixis’ stronger quarterly earnings and continued cabozantinib growth might shape the company’s broader investment narrative.
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Exelixis Investment Narrative Recap
To own Exelixis, I think you need to believe that cabozantinib can remain a cash-generating oncology backbone while zanzalintinib matures into a second meaningful franchise. The stronger first quarter and higher cabozantinib revenue support that thesis but do not remove the key near term risk of continued gross to net pressure from discounted channels like 340B. The most important catalyst still sits with pipeline execution and regulatory outcomes for zanzalintinib across colorectal and renal indications.
Among the recent announcements, the new US$750 million share repurchase program stands out alongside the earnings beat. The buyback, coming right after Exelixis completed a prior US$590.59 million authorization, matters because it is being layered onto a business still heavily reliant on cabozantinib while management pushes zanzalintinib through pivotal trials. How the company balances capital returns with funding late stage development will interact directly with those pipeline catalysts.
Yet beneath the stronger quarter, investors should be aware of how rising 340B volume and potential pricing pressure could eventually...
Read the full narrative on Exelixis (it's free!)
Exelixis' narrative projects $3.3 billion revenue and $1.1 billion earnings by 2029.
Uncover how Exelixis' forecasts yield a $47.53 fair value, in line with its current price.
Exploring Other PerspectivesEXEL 1-Year Stock Price Chart
Some of the most optimistic analysts were previously modeling Exelixis to reach about US$3.8 billion in revenue and US$1.8 billion in earnings, which is a far more upbeat view than the baseline narrative that emphasizes cabozantinib concentration and 340B pressure. After this quarter’s results, you may find that these bullish assumptions, and the concern about growing gross to net discounts on cabozantinib sales, need a fresh look side by side.
Story Continues
Explore 10 other fair value estimates on Exelixis - why the stock might be worth 27% less than the current price!
The Verdict Is Yours
Don't just follow the ticker - dig into the data and build a conviction that's truly your own.
A great starting point for your Exelixis research is our analysis highlighting 4 key rewards and 1 important warning sign that could impact your investment decision. Our free Exelixis research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Exelixis' overall financial health at a glance.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include EXEL.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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- Exelixis Seen Trading Steady on Modest Drug Growth, RBC Says
May 6, 2026
Exelixis (EXEL) shares are likely to trade in line with peers as its cancer drug cabozantinib, used
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- EXEL Q1 Earnings Top Estimates, Colorectal Cancer Drug in Focus
May 6, 2026
Exelixis, Inc. EXEL reported mixed results for the first quarter of 2026.
Adjusted earnings per share (EPS) of 87 cents comfortably beat the Zacks Consensus Estimate of 75 cents. The company posted adjusted EPS of 62 cents in the year-ago quarter. Adjusted earnings exclude the impact of stock-based compensation expenses.
Including stock-based compensation expense, EPS was 79 cents compared with 55 cents in the year-ago period.
The bottom-line growth benefited from lower operating expenses and a decrease in shares outstanding due to ongoing buybacks.
Net revenues of $611 million missed the Zacks Consensus Estimate of $613 million. The top line was up 10% year over year.
The stock is up in pre-market trading in response to the first-quarter results.
Year to date, Exelixis’ shares have risen 1.3% against the industry’s decline of 2.4%.Zacks Investment Research
Image Source: Zacks Investment Research
EXEL’s Q1 Results in Detail
Net product revenues of $555.0 million were up from $513.3 million in the year-ago quarter. Management attributed the increase to higher sales volume.
Cabometyx (cabozantinib) generated revenues of $552.8 million, which missed the Zacks Consensus Estimate of $558 million and our model estimate of $564 million. The drug is approved for advanced renal cell carcinoma (RCC) and previously treated hepatocellular carcinoma.
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).
Cometriq (cabozantinib capsules) generated $2.2 million in net product revenues for treating medullary thyroid cancer.
Collaboration revenues, comprising license and collaboration services revenues, totaled $55.8 million, up 32.4% year over year. The improvement reflected higher royalty revenues from ex-U.S. cabozantinib sales generated by Ipsen and higher milestone-related revenues recognized during the period.
Research and development expenses amounted to $199.9 million, down from $212.2 million in the prior-year quarter due to lower clinical trial and manufacturing costs.
Selling, general and administrative expenses totaled $139.6 million, up 1.8% year over year, primarily due to increases in marketing activities, legal and advisory fees, and personnel expenses.
Story Continues
As of the end of the first quarter of 2026, Exelixis repurchased $590.6 million of its shares under the $750 million share repurchase program (SRP) authorized in October 2025. The company expects to complete the remaining portion of this program in May 2026, ahead of its original commitment to finish by Dec. 31, 2026.
Since initiating its first SRP in March 2023, Exelixis has repurchased a total of $2.59 billion of its common stock, retiring 86.8 million shares at an average price of $29.86 per share as of quarter-end.
In May 2026, the company’s board of directors approved a new $750 million SRP, with authorization extending through Dec. 31, 2027. This marks the sixth SRP launched since March 2023.
EXEL Reaffirms 2026 Guidance
Exelixis has reiterated its guidance for 2026. The company expects total revenues of $2.525-$2.625 billion in 2026. Net product revenues are projected to be in the range of $2.325-$2.425 billion.
Exelixis’ 2026 net product revenue guidance includes a 3.0% increase in wholesale acquisition costs for Cabometyx and Cometriq in the United States, effective Jan. 1, 2026.
The annual guidance excludes any contribution from a potential approval of zanzalintinib in metastatic colorectal cancer (CRC).
Operating expenses are projected to increase. The company expects R&D expenses of $875-$925 million and SG&A expenses of $575-$625 million.
Key Pipeline and Regulatory Updates From EXEL
The company is developing zanzalintinib, a next-generation oral investigational tyrosine kinase inhibitor (TKI).
In February 2026, the FDA accepted EXEL’s new drug application seeking approval of zanzalintinib in previously treated metastatic CRC — in combination with Roche’s RHHBY Tecentriq (atezolizumab). The regulatory body assigned a target action date of Dec. 3, 2026.
The NDA is supported by positive phase III STELLAR-303 data demonstrating a statistically significant reduction in the risk of death compared with Stivarga (regorafenib).
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.
Exelixis is gearing up for the potential first commercial launch of zanzalintinib for the above-mentioned indication.
A phase III study, STELLAR-304, is evaluating zanzalintinib in combination with Opdivo (nivolumab) versus Sutent (sunitinib) in previously untreated patients with advanced non-clear cell RCC. Top-line results are expected in the second half of 2026, based on current event rates.
Earlier this year, Exelixis collaborated with Natera NTRA for the STELLAR-316 study. This phase III study is being sponsored by Exelixis. The study will evaluate zanzalintinib, with and without an immune checkpoint inhibitor, in patients with resected stage II/III CRC.
Patients with CRC who are molecular residual disease (MRD)-positive based on Natera’s Signatera test following completion of definitive therapy — and who have no radiographic evidence of disease — will be eligible for enrollment in the STELLAR-316 trial. Exelixis expects to initiate this study in mid-2026.
Exelixis also collaborated with pharma giant Merck MRK in October 2024 to advance zanzalintinib.
In April 2026, MRK initiated LITESPARK-034, a phase II trial evaluating zanzalintinib plus Welireg (belzutifan) 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.
Exelixis also announced two additional studies of zanzalintinib — STELLAR-202, a planned phase II trial evaluating the drug in combination with MRK’s blockbuster drug Keytruda (pembrolizumab) as maintenance therapy in squamous non-small cell lung cancer, and a new expansion cohort in the ongoing phase Ib/II STELLAR-002 study assessing zanzalintinib plus docetaxel in metastatic castration-resistant prostate cancer patients with measurable disease. Exelixis plans to launch STELLAR-202 and open the STELLAR-002 expansion cohort in the second half of 2026.
Our Take on EXEL’s Q1 Performance
While the narrow revenue miss in the first quarter was disappointing, EXEL’s overall performance has been encouraging.
Exelixis, Inc. Price, Consensus and EPS SurpriseExelixis, Inc. Price, Consensus and EPS Surprise
Exelixis, Inc. price-consensus-eps-surprise-chart | Exelixis, Inc. Quote
The Cabometyx franchise continued to gain momentum in 2026, maintaining its position as the leading prescribed TKI in renal cell carcinoma, the top TKI plus immunotherapy combination in first-line RCC, and the leading oral option in second-line and later neuroendocrine tumors. First-quarter results reflected strong performance, with a record number of new patient starts and the highest-ever first-line RCC market share for Cabometyx plus Opdivo.
Zanzalintinib represents the company’s most significant near-term catalyst. A potential approval of the candidate will be a significant boost for EXEL’s oncology pipeline. Management completed the expansion of its gastrointestinal sales team to support cabozantinib momentum in neuroendocrine tumors and prepare for potential zanzalintinib indications.
The successful development of additional drugs should broaden the company’s portfolio and reduce dependence on its lead drug, Cabometyx.
EXEL’s Zacks Rank
Exelixis currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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This article originally published on Zacks Investment Research (zacks.com).
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