Exelixis (NASDAQ:EXEL) Releases Earnings Results, Beats Estimates By $0.20 EPS

Exelixis (NASDAQ:EXEL) announced its quarterly earnings results on Tuesday. The biotechnology company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.20, FiscalAI reports. Exelixis had a net margin of 33.73% and a return on equity of 36.52%. The company had revenue of $598.66 million for the quarter, compared to analysts’ expectations of $609.17 million. During the same quarter in the previous year, the business posted $0.55 earnings per share. Exelixis’s quarterly revenue was up 5.6% on a year-over-year basis.

Here are the key takeaways from Exelixis’ conference call:

• CABOMETYX commercial strength: US CABO franchise net product revenues grew 17% to ~ $2.12 billion in FY‑2025 (Q4 US CABO $547M) with global CABO franchise revenue of ~$2.89B for the year, GAAP Q4 net income of $244.5M, cash & marketable securities of ~$1.66B, and $954M of share repurchases completed in 2025.
• NDA accepted for zanzalintinib (ZANZA) + atezolizumab: FDA accepted the STELLAR‑303‑based NDA for third‑line‑plus colorectal cancer with a PDUFA date of Dec 3, 2026; STELLAR‑303 showed a 20% reduction in risk of death in the ITT analysis and the non‑liver‑metastases OS final analysis is expected mid‑2026 — a major potential commercial catalyst.
• Extensive ZANZA development plan and early‑stage pipeline: Exelixis has seven ongoing/soon‑to‑start pivotal ZANZA trials (including STELLAR‑316 MRD adjuvant, STELLAR‑304 non‑clear cell RCC, STELLAR‑311 NET), collaborations with Merck and Natera, plus four early clinical molecules advancing — meaningful upside but subject to clinical and regulatory risk.
• Gross‑to‑net and cost headwinds for 2026: Management forecasts FY‑2026 gross‑to‑net of 31–32% (including a 2% Medicare Part D discount tied to “specified small manufacturer” status) and warns of variability from 340B volumes, while Q4 operating expenses rose due to manufacturing, NDA fees, personnel and marketing, which could pressure margins.

Exelixis Trading Down 0.1%

NASDAQ:EXEL opened at $42.94 on Thursday. The company has a market cap of $11.51 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 0.73 and a beta of 0.42. Exelixis has a twelve month low of $32.38 and a twelve month high of $49.62. The stock has a fifty day simple moving average of $43.67 and a 200-day simple moving average of $40.94.

Insider Buying and Selling

In related news, EVP Patrick J. Haley sold 34,187 shares of Exelixis stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $41.88, for a total transaction of $1,431,751.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have sold 72,230 shares of company stock valued at $3,046,923. Company insiders own 2.82% of the company’s stock.

Hedge Funds Weigh In On Exelixis

A number of institutional investors have recently modified their holdings of EXEL. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Exelixis by 1,380.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 829 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 773 shares during the period. Geneos Wealth Management Inc. increased its holdings in Exelixis by 134.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 944 shares during the period. Founders Financial Alliance LLC bought a new stake in Exelixis during the 4th quarter valued at $208,000. Evergreen Capital Management LLC purchased a new stake in shares of Exelixis in the 2nd quarter worth $226,000. Finally, J.W. Cole Advisors Inc. lifted its holdings in shares of Exelixis by 6.5% in the 4th quarter. J.W. Cole Advisors Inc. now owns 5,354 shares of the biotechnology company’s stock worth $235,000 after buying an additional 329 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on EXEL shares. Weiss Ratings restated a “buy (b)” rating on shares of Exelixis in a research report on Thursday, January 22nd. HC Wainwright boosted their price objective on Exelixis from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday. Wall Street Zen raised Exelixis from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 14th. TD Cowen reissued a “buy” rating on shares of Exelixis in a research report on Wednesday, November 5th. Finally, Stifel Nicolaus increased their price target on Exelixis from $43.00 to $44.00 and gave the company a “hold” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $47.11.

About Exelixis

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.