Overview
Exelixis Q3 revenue of $597.8 mln beats analyst expectations
Adjusted net income for Q3 beats consensus
Company announces $750 mln stock repurchase program
Outlook
Exelixis raises 2025 total revenue guidance to $2.30 bln-$2.35 bln
Company lowers 2025 R&D expenses forecast to $850 mln-$900 mln
Exelixis plans NDA submission for zanzalintinib by year-end 2025
Result Drivers
R&D EXPENSES - Decrease in R&D expenses due to lower clinical trial costs and collaboration expenses
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$597.80 mln
$590.30 mln (18 Analysts)
Q3 Adjusted Net Income
Beat
$217.90 mln
$167.08 mln (13 Analysts)
Q3 Net Income
$193.60 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 9 "hold" and no "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 $45.00, about 15.4% above its November 3 closing price of $38.06
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 14 three months ago
Press Release: ID:nBw14Q3pha
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(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.)
