Exelixis Stock Soars As Analysts Applaud Raised 2025 Guidance, Q1 Earnings Beat

Exelixis Inc. EXEL on Tuesday reported its first quarter of 2025 adjusted earnings of 62 cents per share, compared to 17 cents a year ago, beating the consensus of 36 cents.

The cancer-focused company reported quarterly sales of $555.45 million, beating the consensus of $498.18 million.

Total revenues included net product revenues of $513.3 million, compared to $378.5 million for the comparable period in 2024.

Also Read: FDA Approves Exelixis’ Lead Cancer Drug Cabometyx For Expanded Use In Neuroendocrine Tumors

Guidance: “Based on the strong first quarter dynamics of CABOMETYX, we’re increasing our 2025 full year financial guidance for net product revenues and total revenues by $100 million,” said Michael M. Morrissey, president and CEO of Exelixis.

The company raised fiscal 2025 sales guidance from $2.15 billion-$2.25 billion to $2.25 billion-$2.35 billion, versus the consensus of $2.25 billion.

Stifel writes, “We note the NET launch should prove a tailwind to FY25 topline growth and command an additional guidance raise above the $100 million announced today. We continue to believe 2H25 zanzalintinib clinical catalysts will prove a more significant driver of investor enthusiasm…”

Analyst Stephen Willey highlights, “Management noted there is a significant overlap between target NET physicians and legacy Cabometyx prescribers and believes Cabometyx is well positioned to capture a significant portion of the small molecule NET market, which, per management, is estimated at $1B in FY25.”

Willey maintains the Hold rating for Exelixis and raises the price target from $36 to $38.

Stifel updated fiscal 2025, 2026 and 2027 Cabometyx sales estimates, primarily reflecting continued first-line RCC share gains and an accelerated NET launch trajectory. The analyst updates sales estimates to $2.141 billion, $2.439 billion and $2.712 billion versus $2.062 billion, $2.35 billion, and $2.54 billion, respectively, expected previously.

EXEL Price Action: Exelixis stock was up 20% at $44.3 at publication on Wednesday.

Read Next:

• Taiwan Semiconductor Commits $15 Billion To Chip Expansion, Approves Dividend

Photo: Shutterstock