Exelixis Inc

EXEL: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$27.80	Hrkl	Qltzhfmsl

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

Rachel Elfman

Nov 8, 2022

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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