Exelixis (NASDAQ:EXEL) Announces Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Exelixis (NASDAQ:EXEL) announced its earnings results on Tuesday. The biotechnology company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.12, FiscalAI reports. The firm had revenue of $610.81 million for the quarter, compared to analysts’ expectations of $607.51 million. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.Exelixis’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 EPS.

Here are the key takeaways from Exelixis’ conference call:

• CABOMETYX commercial momentum: U.S. CABO franchise net product revenues rose 8% year‑over‑year to $555M (global CABO revenues grew 12.5% to $764M), with the highest quarterly new patient starts ever and TRX share rising from 44% to 47% versus Q1 2025.
• ZANZA regulatory and pivotal progress: The NDA for zanzalitinib (ZANZA) + atezolizumab in 3L+ CRC (STELLAR‑303) is under FDA review with a PDUFA in early December and the program includes seven ongoing/soon‑to‑start pivotal trials, positioning ZANZA as the company’s next potential franchise.
• Solid Q1 financials and capital returns: Total revenues were ~$611M with GAAP net income of ~$210.5M ($0.79 diluted) and non‑GAAP net income of ~$232.8M ($0.87 diluted); cash and marketable securities were ~$1.4B, the company repurchased ~$430.8M (~10M shares) in Q1 and the board authorized a new $750M buyback.
• Higher gross‑to‑net deductions (30.2% in Q1) increased due to elevated 340B volume, Medicare Part D discounts/rebates and co‑pay assistance, which could pressure realized net product revenue despite underlying demand.
• Broad R&D pipeline and enrollment momentum: four early clinical assets (XL309, XB010, XB628, XB371) are in development, STELLAR‑311 (NET) is enrolling ahead of plan, STELLAR‑316 (MRD adjuvant CRC) and STELLAR‑201 (meningioma) are advancing, and the company is prioritizing disciplined R&D investment and targeted BD to expand future franchises.

Exelixis Stock Performance

Shares of EXEL traded up $1.59 during trading hours on Wednesday, hitting $46.01. The stock had a trading volume of 1,626,299 shares, compared to its average volume of 2,698,125. Exelixis has a 12-month low of $33.76 and a 12-month high of $49.62. The firm has a market cap of $11.69 billion, a P/E ratio of 16.61, a P/E/G ratio of 0.99 and a beta of 0.38. The company’s fifty day simple moving average is $43.32 and its 200 day simple moving average is $42.86.

Wall Street Analysts Forecast Growth

EXEL has been the topic of a number of analyst reports. Zacks Research cut Exelixis from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Royal Bank Of Canada lowered their target price on Exelixis from $46.00 to $43.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. Truist Financial upgraded Exelixis to a “strong-buy” rating in a report on Monday, April 27th. Stifel Nicolaus raised their price objective on Exelixis from $43.00 to $44.00 and gave the stock a “hold” rating in a report on Wednesday, February 11th. Finally, Wall Street Zen cut Exelixis from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 18th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $47.28.

Insider Transactions at Exelixis

In related news, CFO Christopher J. Senner sold 34,278 shares of Exelixis stock in a transaction on Friday, February 13th. The stock was sold at an average price of $43.00, for a total value of $1,473,954.00. Following the transaction, the chief financial officer owned 1,042,579 shares in the company, valued at approximately $44,830,897. This trade represents a 3.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack L. Wyszomierski sold 99,574 shares of Exelixis stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $44.01, for a total value of $4,382,251.74. Following the completion of the transaction, the director owned 279,942 shares in the company, valued at $12,320,247.42. The trade was a 26.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 362,849 shares of company stock valued at $15,917,463 in the last ninety days. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Sivia Capital Partners LLC raised its position in Exelixis by 23.8% in the second quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company’s stock valued at $633,000 after purchasing an additional 2,764 shares during the period. Brooklyn Investment Group raised its position in Exelixis by 59.6% in the fourth quarter. Brooklyn Investment Group now owns 8,724 shares of the biotechnology company’s stock valued at $396,000 after purchasing an additional 3,258 shares during the period. Picton Mahoney Asset Management raised its position in Exelixis by 20,353.5% in the fourth quarter. Picton Mahoney Asset Management now owns 8,795 shares of the biotechnology company’s stock valued at $385,000 after purchasing an additional 8,752 shares during the period. CIBC Bancorp USA Inc. purchased a new stake in shares of Exelixis during the third quarter worth about $357,000. Finally, TD Asset Management Inc increased its position in shares of Exelixis by 12.5% during the fourth quarter. TD Asset Management Inc now owns 7,200 shares of the biotechnology company’s stock worth $316,000 after acquiring an additional 800 shares during the last quarter. 85.27% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Exelixis

Here are the key news stories impacting Exelixis this week:

• Positive Sentiment: Q1 results beat expectations — EPS $0.87 vs. $0.75 consensus and revenue $610.8M (up 10% y/y), with strong margins that support profitability and cash generation. This is the main immediate driver of the stock move. Read More.
• Positive Sentiment: Board authorized a $750M buyback and the company outlined a December PDUFA target for Zanzalintinib in colorectal cancer (CRC) — buybacks support EPS and the PDUFA provides clearer binary clinical/regulatory upside. Read More.
• Positive Sentiment: Bullish analyst action: TD Cowen raised its price target to $55 and reiterated a Buy, citing Cabometyx (cabozantinib) momentum and buyback-driven EPS growth — supportive to investor sentiment. Read More.
• Neutral Sentiment: FY-2026 revenue guidance set roughly in a $2.5B–$2.6B range (vs. consensus ~ $2.6B), indicating growth but offering limited upside surprise versus estimates — keeps near-term expectations mixed. Read More.
• Neutral Sentiment: Earnings call and transcripts highlight durable Cabometyx franchise and STELLAR-304 momentum; management framed progress across commercial and R&D programs but emphasized ongoing pipeline readouts to watch. Read More.
• Negative Sentiment: Morgan Stanley kept a Hold rating, noting that cabozantinib momentum is offset by pipeline uncertainty — a reminder that longer‑term upside depends on clinical/regulatory outcomes beyond the current top-line performance. Read More.

Exelixis Company Profile

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.