Exelixis Q1 revenue slightly beats estimates

Exelixis

05/05/2026 21:53

Overview

U.S. oncology drugmaker's Q1 revenue rose yr/yr, slightly beating analyst expectations

Adjusted net income for Q1 beat analyst expectations

Company announced new $750 mln stock repurchase program through end of 2027

Outlook

Exelixis maintains 2026 total revenue guidance at $2.525 bln to $2.625 bln

Company expects 2026 net product revenues of $2.325 bln to $2.425 bln

Exelixis expects topline results from STELLAR-304 trial in second half of 2026

Result Drivers

CABOZANTINIB SALES VOLUME - Co said increase in net product revenues was primarily due to higher sales volume for cabozantinib franchise

COLLABORATION REVENUES - Co said higher royalty revenues from cabozantinib sales outside U.S. and milestone-related revenues drove collaboration revenue growth

R&D EXPENSES - Co said decrease in research and development expenses was due to lower clinical trial and manufacturing costs

Company press release: ID:nBwbM9lHCa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Slight Beat*
$610.8 mln
$605.20 mln (15 Analysts)
Q1 Adjusted Net Income
Beat
$232.8 mln
$190.07 mln (12 Analysts)
Q1 Net Income
$210.5 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 9 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the biotechnology & medical research peer group is "buy"

Wall Street's median 12-month price target for Exelixis Inc is $49.00, about 10.9% above its May 4 closing price of $44.17

The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 13 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)