Exelixis Inc

EXEL: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$84.20	Dfvrx	Hmyhbnsy

Exelixis Earnings: Strong Cabozantinib Sales, but Pending Patent Expirations Present Headwinds

Rachel Elfman

Aug 12, 2024

Exelixis reported strong second-quarter sales of $437 million from its cabozantinib franchise, representing 7% growth over the same period last year. Cabozantinib comprised nearly 70% of Exelixis’ total revenue in the quarter. We forecast 2024 total revenue exceeding $2 billion thanks to strong performance from the cabozantinib franchise. Exelixis’ results are tracking our expectations, and we maintain our fair value estimate of $18.90 per share.

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