Exelixis Inc
EXEL: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$51.20 | Nfxk | Znkjpjgk |
Exelixis Earnings: Cabozantinib Drives Sales, but Patent Expirations Present Challenges
Exelixis started 2024 in a solid position with total revenue of $425 million in the first quarter, a 4% increase from the prior-year period. We forecast 2024 total revenue of roughly $1.89 billion, driven by strong performance from cabozantinib. The results are in line with our expectations, and we maintain our $18.90 fair value estimate. We view the shares as currently overvalued, trading at a 17% premium to our fair value estimate.