Exelixis Inc

EXEL: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$41.10	Jtzp	Pdmxnzkg

Exelixis Reports Q2 Results in Line With Expectations; Maintaining $18.90 FVE, Shares Fairly Valued

Rachel Elfman

Aug 10, 2022

Exelixis reported solid second-quarter results highlighted by revenue of $419 million, representing a 9% increase from the prior-year period thanks to strong performance of its cabozantinib franchise. Exelixis is tracking our expectations, and management reiterated its 2022 guidance. 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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