Exelixis Inc

EXEL: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Exelixis Earnings: Raising Valuation on Improved Outlook Thanks to Pipeline Candidate Zanzalintinib

Rachel Elfman

Oct 30, 2024

Exelixis’ strong third-quarter sales of $540 million represented 14% growth over the same period last year. Based on the commercial performance of the cabozantinib franchise, management increased its revenue guidance by 7% at the midpoint, and we now expect 2024 revenue of nearly $2.18 billion. We raised our fair value estimate to $25.10 per share from $18.90 due to stronger near-term expectations from cabozantinib and upside from Exelixis’ developing pipeline.

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Exelixis Inc

Exelixis Earnings: Raising Valuation on Improved Outlook Thanks to Pipeline Candidate Zanzalintinib

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