Exelixis Inc
EXEL: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$84.10 | Xhssr | Xjtfdfxnk |
Exelixis Earnings: Strong Cabozantinib Sales, but Pending Patent Expirations Present Headwinds
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.