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EXEL · NASDAQ · Biotechnology

Exelixis

Develops and commercializes cancer medicines around cabozantinib and a broader oncology pipeline.

$54.00

After-hours close−0.42 (−0.77%)

At close$54.42(−1.52%)

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Profile

Exelixis, Inc.EXELHealth Care

Sells CABOMETYX and COMETRIQ directly in the United States and earns collaboration revenue from partner-marketed medicines abroad. One oncology-focused segment remains centered on cabozantinib while zanzalintinib and earlier small-molecule and antibody-based programs are developed as potential additional franchises.

Discovers, develops, and commercializes cancer medicines, with CABOMETYX and COMETRIQ sold directly in the United States and COTELLIC and MINNEBRO handled through partners. The business reports as one oncology-focused segment.

Uses its U.S. cabozantinib franchise and licensing relationships abroad to fund the next pipeline. Zanzalintinib is the lead next-generation oral kinase inhibitor, while earlier programs span small molecules and antibody-based therapies.

Execution has centered on redirecting cabozantinib into kidney, liver, and thyroid cancer settings after an earlier prostate-cancer trial setback. Revenue remains concentrated in CABOMETYX, and the model depends on continued demand, successful clinical and regulatory development, durable intellectual property, and partner performance outside direct territories.

Company facts

CEOMichael M. Morrissey, Ph.D.

ListedApr 10, 2000

ExchangeNASDAQ

HeadquartersAlameda, CA

CountryUnited States

Employees1,147

CIK0000939767

ISINUS30161Q1040

Key statistics

Market cap$13.69B

EPS (ttm)$3.19

P/E (ttm)17.07

ROE42.5%

P/B7.41

P/S5.62

Dividend yield—

Beta0.65vs XLV 0.72

Year to date +24.9% · Average volume (30d) 2.4M

Analysts

Price target, next 12 months$52.00−4.5%Median of 33 analysts · vs the Aug 28 close

ConsensusHold16 of 33 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $54.45

High$56.00+2.8%

Median$52.00−4.5%

Low$46.00−15.5%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Rating	Prior target	Target
Aug 18, 2026	BMO Capital	Initiate	Market Perform	$36	$54
Aug 6, 2026	Leerink Partners	Target		$48	$52
Aug 6, 2026	Truist Financial	Target		$54	$52
Aug 3, 2026	UBS	Target		$52	$55
Jul 23, 2026	Morgan Stanley	Reiterate	Equal Weight	$49	$53

Earnings

EPS

Estimate$0.89

ReportedDue Nov 3, 2026

Revenue

Estimate$650.3M

ReportedDue Nov 3, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 5, 2026Q2 FY26	$0.85	$0.91	+6.7%	$636.4M	$628.7M	−1.2%	−7.94%
May 5, 2026Q1 FY26	$0.75	$0.87	+16.0%	$607.5M	$610.8M	+0.5%	+9.64%
Feb 10, 2026Q4 FY25	$0.77	$0.94	+22.1%	$596.5M	$598.7M	+0.4%	−0.09%
Nov 4, 2025Q3 FY25	$0.69	$0.78	+13.9%	$590.2M	$597.8M	+1.3%	+6.52%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$555.4M	$568.3M	$597.8M	$598.7M	$610.8M	$628.7M
Gross profit	$536.3M	$548.8M	$579.2M	$572.2M	$590.9M	$608.0M
Operating income	$186.9M	$213.6M	$236.5M	$235.2M	$251.3M	$248.4M
Net income	$159.6M	$184.8M	$193.6M	$244.5M	$210.5M	$212.1M
Diluted EPS	$0.55	$0.65	$0.70	$0.88	$0.79	$0.82
Gross margin	96.5%	96.6%	96.9%	95.6%	96.7%	96.7%
Operating margin	33.6%	37.6%	39.6%	39.3%	41.1%	39.5%

Fiscal years (4-quarter sums)FY21 $1.43B · FY22 $1.61B · FY23 $1.83B · FY24 $2.17B · FY25 $2.32B

Revenue by product · Q2 FY26

Product, Gross$812.8M · 54%

Product$573.0M · 38%

License$59.8M · 4%

Collaboration$55.7M · 4%

Revenue by geography · Q2 FY26

United States$578.4M · 92%

Europe$46.0M · 7%

Japan$4.3M · 1%

Balance sheet, Jul 3, 2026Cash & short-term investments $839.4M · Total debt $165.9M · Total assets $2.49B · Shareholders' equity $1.84B

Dividends

No dividends on record.

Ownership

Institutions 109.83%Insiders 3.96%

A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.

Shares outstanding 251.36M · Float 204.46M · 81.3% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
BlackRock, Inc.	29.08M	11.57%	13F	Aug 7, 2026
Farallon Capital Management, L.L.C.	13.99M	5.60%	13D	Aug 14, 2026
Renaissance Technologies LLC	13.43M	5.34%	13F	Aug 13, 2026
Vanguard Portfolio Management LLC	12.04M	4.79%	13F	Aug 13, 2026
AQR Capital Management LLC	11.02M	4.39%	13F	Aug 14, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
Aug 10, 2026	Mary C. Beckerle	director	−9,812	$53.66
Jun 1, 2026	Sue Gail Eckhardt	director	−9,812	$50.14
Jun 1, 2026	Jack L. Wyszomierski	director	−3,925	$50.55
May 26, 2026	Dana Aftab	officer: EVP, Research and Development	−43,451	$50.35
May 20, 2026	Patrick J. Haley	officer: EVP, Commercial	−32,110	$49.81