| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 55 | 17.3x | 17.8x | Around median | |
Growth | 81 | 9.2% | 7.1% | Top tier | |
Quality | 97 | 37.4% | 4.5% | Top tier | |
Safety | 92 | — | 2.6x | Top tier | |
Capital Return | 46 | — | 2.12% | Around median | |
Momentum | 93 | 40.4% | 2.9% | Top tier | |
Sentiment | 61 | 10 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Exelixis is a company specializing in the development and commercialization of oncology therapies, with revenue primarily dependent on the cabozantinib franchise, particularly CABOMETYX sales in the United States, alongside royalties from partners Ipsen and Takeda on cabozantinib sales. The company is seeking to expand its model from reliance on a single compound to multiple therapeutic franchises, with zanzalintinib at the center of this transition through a clinical trial program spanning colorectal cancer, kidney cancer, neuroendocrine tumors, and other indications.
In Q2 FY2026, revenue was approximately $629 million, including $573 million in cabozantinib franchise net revenue and $571 million from CABOMETYX, in addition to approximately $53 million in royalties from Ipsen and Takeda. GAAP net income was approximately $212 million, or $0.85 per basic share and $0.82 per diluted share, equivalent to a calculated net income margin of approximately 33.7%. Operating expenses were $380 million, compared with $359 million in Q1 FY2026, while gross-to-net discounts for the cabozantinib franchise were 29.5%.
EDGAR data show that profitability continued before that; in Q1 FY2026, revenue was $610.8 million, gross profit was $590.9 million, net income was $210.5 million, and earnings per share were $0.79. On a trailing-twelve-month basis ending in FY2026, revenue was $2.4 billion, gross profit was $2.3 billion, and net income was $833.4 million, compared with revenue of $2.3 billion and net income of $782.6 million in FY2025.
The average analyst price target is $51.78, within a range of $46 to $56, and the average is approximately 10% below the 52-week range high of $57.57, while the highest target is close to that high. The consensus remains "Neutral," reflecting the balance between CABOMETYX growth and zanzalintinib opportunities on one hand, and the reduction in FY2026 revenue guidance and regulatory and legal uncertainty on the other; the data do not include a usable earnings multiple.
Figures in the text are as of 2026-08-29; the live price is shown at the top of the page.
Exelixis depends primarily on the cabozantinib franchise, particularly CABOMETYX in the United States, in addition to royalties from Ipsen and Takeda. In Q2 FY2026, net franchise revenue was $573 million out of total revenue of approximately $629 million. Royalties from the two partners were also approximately $53 million during the same period.
The company lowered and narrowed its total revenue and net product revenue guidance ranges, reducing the midpoint by $50 million. It explained on the August 5, 2026 call that CABOMETYX use in neuroendocrine tumors increased at a more gradual pace than expected because of the slower nature of the disease and slow patient transitions between therapies. Nevertheless, its share of new patients receiving second-line and later oral therapy exceeded 45% during Q2 FY2026.
zanzalintinib represents Exelixis's attempt to build a second oncology franchise and reduce its reliance on cabozantinib. Its application with atezolizumab in colorectal cancer is under review based on STELLAR-303, with a regulatory decision expected in early December 2026 and an estimated opportunity of approximately 23 thousand U.S. patients. The program also includes STELLAR-304 in kidney cancer, STELLAR-311 in neuroendocrine tumors, and other trials in genitourinary and gastrointestinal cancers.
Automated analysis for informational purposes only — not investment advice.
The primary endpoint for the STELLAR-303 subgroup of patients without liver metastases did not achieve statistical significance according to a June 2026 update, while the drug application is based on the full study population, which includes patients with and without liver metastases. As for STELLAR-304, its results remain undisclosed, and the company expects topline data in the second half of 2026. The value of STELLAR-311 also depends on zanzalintinib demonstrating appropriate superiority over everolimus in the phase 3 trial.
Cash and marketable securities totaled approximately $1.4 billion as of June 30, 2026. The company repurchased approximately 6.5 million shares during Q2 FY2026 for $312 million, at an average of $47.85 per share. After completing the October 2025 program, approximately $598 million remained under a $750 million repurchase program authorized by the board in May 2026.
The analyst consensus is "Neutral," with an average price target of $51.78. The target range is between $46 and $56, compared with a 52-week range of $33.76 to $57.57. This caution follows the reduction in FY2026 revenue guidance, while BMO Capital rated the stock "Market Perform" according to an August 19, 2026 report.
