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Exelixis Inc EXEL Stock Quote

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Exelixis Posts Q3 Results in Line With Expectations; Maintaining $18.90 FVE, Shares Fairly Valued

Rachel Elfman Equity Analyst

Analyst Note

| Rachel Elfman |

Exelixis reported third-quarter results in line with our expectations, highlighted by revenue of nearly $412 million, representing a 25% increase from the prior-year period thanks to strong performance of its cabozantinib franchise. Exelixis is tracking our expectations, and we maintain our fair value estimate of $18.90 per share, no-moat rating, and stable moat trend. We view shares as fairly valued, currently trading in 3-star territory.

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Company Profile EXEL

Business Description

Exelixis is a biopharmaceutical firm that discovers, develops, and commercializes treatments for cancer. Its lead molecule, cabozantinib, is indicated for the treatment of patients with metastatic medullary thyroid cancer under the name Cometriq and for the treatment of kidney and liver cancer under the name Cabometyx. Exelixis and its partner Roche have also brought Cotellic to market for the treatment of melanoma.

1851 Harbor Bay Parkway
Alameda, CA, 94502
T +1 650 837-7000
Industry Biotechnology
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 954

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