Exelixis Posts Strong Earnings—Could New Highs Be on the Horizon?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 12 2026
0mins
Should l Buy EXEL?
Source: Marketbeat
Earnings Report Overview: Exelixis, Inc. reported earnings per share of 94 cents, exceeding consensus estimates by 27%, but its revenue of $598.66 million fell short of expectations, leading to a 2% decline in stock price.
Future Growth Strategy: The company is focusing on expanding its franchise strategy and investing in research and development, particularly around its drug candidate, zanidatamab, which targets colorectal cancer.
Market Positioning: Exelixis is transitioning from a single-product company to a multi-franchise player in oncology, with forecasts suggesting potential peak annual sales of $5 billion if zanidatamab receives regulatory approval.
Investment Outlook: Analysts maintain an equal weight rating on Exelixis stock, with price targets being raised, indicating confidence in the company's growth potential despite current stock consolidation patterns.
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Analyst Views on EXEL
Wall Street analysts forecast EXEL stock price to fall
16 Analyst Rating
7 Buy
8 Hold
1 Sell
Moderate Buy
Current: 46.210
Low
30.00
Averages
44.09
High
52.00
Current: 46.210
Low
30.00
Averages
44.09
High
52.00
About EXEL
Exelixis, Inc. is an oncology company. The Company has produced four marketed pharmaceutical products, two of which are formulations of its flagship molecule, cabozantinib. It is also advancing and evolving its product pipeline portfolio, including its lead investigational asset, zanzalintinib. Cabozantinib is an inhibitor of multiple tyrosine kinases, including MET, AXL, VEGF receptors and RET and has been also approved as CABOMETYX tablets for advanced renal cell carcinoma, for previously treated hepatocellular carcinoma and for previously treated, radioactive iodine-refractory differentiated thyroid cancer, and as COMETRIQ capsules for progressive, metastatic medullary thyroid cancer. The Company's other two products are COTELLIC, an inhibitor of MEK approved as part of multiple combination regimens to treat specific forms of advanced melanoma and MINNEBRO an oral, non-steroidal, selective blocker of the mineralocorticoid receptor approved the treatment of hypertension in Japan.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Exelixis Q1 2026 Earnings Call Insights
- CABOMETYX Growth Momentum: Exelixis reported the highest number of new patient starts for CABOMETYX in Q1, with TRx market share increasing from 44% to 47%, indicating strong demand in the renal cell carcinoma and neuroendocrine tumor markets, further solidifying its leadership position.
- Capital Repurchase Plan: The company repurchased approximately $430.8 million of stock in Q1 and received board approval for a new $750 million stock repurchase plan, aimed at enhancing shareholder confidence while providing funding for future R&D investments.
- ZANZA R&D Progress: Management emphasized that the CRC NDA application for ZANZA and atezolizumab is the company's top priority, with a PDUFA expected in early December 2026, highlighting the strategic focus on colorectal cancer treatment.
- Strong Financial Performance: Q1 total revenues were approximately $611 million, with GAAP net income around $210.5 million, demonstrating effective control over operating expenses despite pressures from the 340B program and Medicare discounts.
See More
Exelixis (EXEL) Q1 2026 Earnings Transcript
See More
Three Biotech Companies Worth Watching
- Krystal Biotech's Breakthrough: In 2023, Krystal Biotech received approval for Vyjuvek, a gene therapy for Dystrophic Epidermolysis Bullosa, achieving $389.1 million in revenue, a 34% year-over-year increase, indicating strong market potential in rare diseases.
- Madrigal Pharmaceuticals' FDA Approval: In 2024, Madrigal gained FDA approval for Rezdiffra, the first drug for metabolic dysfunction-associated steatohepatitis, with 2025 revenue reaching $958.4 million, a staggering 432% increase, showcasing robust growth in an emerging market.
- Exelixis' Oncology Innovations: Exelixis' Cabometyx remains the leading treatment for liver and kidney cancers, with no generic competition expected until 2030, while the company plans to launch several next-gen cancer therapies in the next five years, further solidifying its market position.
- Significant Market Potential: The combination of innovation and market demand in these three companies suggests that their stocks could yield substantial returns in the future, particularly in the ongoing developments within rare diseases and oncology.
See More
Three Biotech Stocks Worth Watching
- Krystal Biotech's Breakthrough: Focused on rare diseases, Krystal Biotech received approval for Vyjuvek, a gene therapy for Dystrophic Epidermolysis Bullosa, achieving $389.1 million in revenue in 2023, a 34% year-over-year increase, indicating strong market performance.
- Madrigal Pharmaceuticals' Market Potential: Madrigal's Rezdiffra, approved by the FDA in 2024 as the first treatment for metabolic dysfunction-associated steatohepatitis, generated $958.4 million in revenue in 2025, a staggering 432% increase, showcasing its potential in a large patient market.
- Exelixis' Innovative Drugs: Exelixis' Cabometyx, a leading treatment for liver and kidney cancers, is expected to face no generic competition until 2030, while its development of next-gen cancer therapies could further drive growth in the coming years.
- Competitive Advantages: These three companies demonstrate significant market potential and innovation capabilities, with Krystal Biotech and Madrigal expanding their product lines to enhance market share, while Exelixis maintains a strong position in oncology through robust financial performance and R&D efforts.
See More
Exelixis Market Trends Analysis
- Market Insights: In the Motley Fool Scoreboard episode, expert analysts discuss Exelixis's market dynamics, providing deep insights into investment opportunities that help investors grasp future trends.
- Investment Opportunity Assessment: The episode emphasizes Exelixis's potential in the biopharmaceutical sector, particularly in new drug development and market expansion, which could yield substantial returns for investors.
- Stock Price Reference: The stock price mentioned in the episode is from February 11, 2026, reflecting Exelixis's market performance at that time, providing historical context for investors.
- Video Release Information: This video was published on March 31, 2026, aimed at providing viewers with the latest market analysis and investment advice, enhancing investor understanding of Exelixis.
See More
Exelixis Investment Insights from Motley Fool
- Market Trend Analysis: In the latest Motley Fool video, analysts discuss market trends for Exelixis, noting that while the company did not make the list of the top 10 recommended stocks, it still presents potential investment opportunities.
- Return Comparison: The average return of Stock Advisor stands at 880%, significantly outperforming the S&P 500's 178%, indicating that even though Exelixis is not recommended, investors should still monitor its market performance.
- Historical Performance Review: The video highlights that Netflix and Nvidia achieved investment returns of 501,381% and 1,012,581% respectively after being recommended, underscoring the importance of selecting the right stocks.
- Investor Community Building: Motley Fool encourages investors to join its community for the latest investment advice and market analysis, suggesting that while Exelixis is not on the recommended list, more information can still be obtained through the community.
See More
Exelixis Q1 2026 Earnings Call Insights
- CABOMETYX Growth Momentum: Exelixis reported the highest number of new patient starts for CABOMETYX in Q1, with TRx market share increasing from 44% to 47%, indicating strong demand in the renal cell carcinoma and neuroendocrine tumor markets, further solidifying its leadership position.
- Capital Repurchase Plan: The company repurchased approximately $430.8 million of stock in Q1 and received board approval for a new $750 million stock repurchase plan, aimed at enhancing shareholder confidence while providing funding for future R&D investments.
- ZANZA R&D Progress: Management emphasized that the CRC NDA application for ZANZA and atezolizumab is the company's top priority, with a PDUFA expected in early December 2026, highlighting the strategic focus on colorectal cancer treatment.
- Strong Financial Performance: Q1 total revenues were approximately $611 million, with GAAP net income around $210.5 million, demonstrating effective control over operating expenses despite pressures from the 340B program and Medicare discounts.
See More
Exelixis (EXEL) Q1 2026 Earnings Transcript
See More
Three Biotech Companies Worth Watching
- Krystal Biotech's Breakthrough: In 2023, Krystal Biotech received approval for Vyjuvek, a gene therapy for Dystrophic Epidermolysis Bullosa, achieving $389.1 million in revenue, a 34% year-over-year increase, indicating strong market potential in rare diseases.
- Madrigal Pharmaceuticals' FDA Approval: In 2024, Madrigal gained FDA approval for Rezdiffra, the first drug for metabolic dysfunction-associated steatohepatitis, with 2025 revenue reaching $958.4 million, a staggering 432% increase, showcasing robust growth in an emerging market.
- Exelixis' Oncology Innovations: Exelixis' Cabometyx remains the leading treatment for liver and kidney cancers, with no generic competition expected until 2030, while the company plans to launch several next-gen cancer therapies in the next five years, further solidifying its market position.
- Significant Market Potential: The combination of innovation and market demand in these three companies suggests that their stocks could yield substantial returns in the future, particularly in the ongoing developments within rare diseases and oncology.
See More
Three Biotech Stocks Worth Watching
- Krystal Biotech's Breakthrough: Focused on rare diseases, Krystal Biotech received approval for Vyjuvek, a gene therapy for Dystrophic Epidermolysis Bullosa, achieving $389.1 million in revenue in 2023, a 34% year-over-year increase, indicating strong market performance.
- Madrigal Pharmaceuticals' Market Potential: Madrigal's Rezdiffra, approved by the FDA in 2024 as the first treatment for metabolic dysfunction-associated steatohepatitis, generated $958.4 million in revenue in 2025, a staggering 432% increase, showcasing its potential in a large patient market.
- Exelixis' Innovative Drugs: Exelixis' Cabometyx, a leading treatment for liver and kidney cancers, is expected to face no generic competition until 2030, while its development of next-gen cancer therapies could further drive growth in the coming years.
- Competitive Advantages: These three companies demonstrate significant market potential and innovation capabilities, with Krystal Biotech and Madrigal expanding their product lines to enhance market share, while Exelixis maintains a strong position in oncology through robust financial performance and R&D efforts.
See More
Exelixis Market Trends Analysis
- Market Insights: In the Motley Fool Scoreboard episode, expert analysts discuss Exelixis's market dynamics, providing deep insights into investment opportunities that help investors grasp future trends.
- Investment Opportunity Assessment: The episode emphasizes Exelixis's potential in the biopharmaceutical sector, particularly in new drug development and market expansion, which could yield substantial returns for investors.
- Stock Price Reference: The stock price mentioned in the episode is from February 11, 2026, reflecting Exelixis's market performance at that time, providing historical context for investors.
- Video Release Information: This video was published on March 31, 2026, aimed at providing viewers with the latest market analysis and investment advice, enhancing investor understanding of Exelixis.
See More
Exelixis Investment Insights from Motley Fool
- Market Trend Analysis: In the latest Motley Fool video, analysts discuss market trends for Exelixis, noting that while the company did not make the list of the top 10 recommended stocks, it still presents potential investment opportunities.
- Return Comparison: The average return of Stock Advisor stands at 880%, significantly outperforming the S&P 500's 178%, indicating that even though Exelixis is not recommended, investors should still monitor its market performance.
- Historical Performance Review: The video highlights that Netflix and Nvidia achieved investment returns of 501,381% and 1,012,581% respectively after being recommended, underscoring the importance of selecting the right stocks.
- Investor Community Building: Motley Fool encourages investors to join its community for the latest investment advice and market analysis, suggesting that while Exelixis is not on the recommended list, more information can still be obtained through the community.
See More
