SURVYR

EXEL

Exelixis, Inc.
$65.35
+$0.24 (0.37%)Oct 27 close
Health CareS&P 400 CompareTechnicals
Model valuationLooks undervaluedDCF base $191
1M3M6M1Y2Y
-11%+7%+26%+45%+63%Oct 2025Oct 2026Apr 202652w high $64.7852w low $35.44
EXELSPY
Wall St. Highest PT $70.00 (+7.1%) Wall St. Avg PT $55.53 (-15.0%)
$38$46$55$63$72POC $45Hi $70Avg $56
Underwater Drawdown %Max DD -12.6%Current 0.0%
0.0%-12.6%
Relative Strength vs SPY+49.9% vs SPYOutperforming
+58%0%-58%
1W
+$0.96 (1.49%)
1M
+$7.19 (12.36%)
3M
+$8.84 (15.64%)
6M
+$20.42 (45.45%)
YTD
+$21.52 (49.10%)
1Y
+$25.36 (63.42%)

Chart

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Ratings & dials

1m · 5m · 15m · 1h · 4h · 1D

Analyst & Morningstar ratings

Consensus · Targets · Morningstar
Wall Street analyst consensus
SellHoldStrong Buy
Buy
15 analysts · mean score 2.33
1 = Strong Buy · 5 = Sell
Wall Street consensus
Analyst price targets
Current price$65.35
Average target$55.53
−$9.82 (−15.0%) downsideaverage target vs current price
CurrentAverageMedian
Low$41.00
Median$55.53
High$70.00
12-month Wall Street target range
Recent analyst rating changes · 8
Reiterated
2026-10-19 · Citizens reiterated Market Outperform on EXEL
Reiterated
2026-10-09 · RBC Capital reiterated Sector Perform on EXEL
Reiterated
2026-10-08 · RBC Capital reiterated Sector Perform on EXEL
Reiterated
2026-10-07 · Truist Securities reiterated Hold on EXEL
Initiated
2026-08-19 · BMO Capital started covering EXEL at Market Perform
Reiterated
2026-08-06 · Truist Securities reiterated Hold on EXEL
All analyst rating changes ›

Third-party ratings, not SURVYR.'s views.

Health check

Financial health
DistressGrey zoneSafe
Safe zone
Altman Z-score 17.3
Above 2.99 is the safe zone, below 1.81 the distress zone.
Quality
WeakAverageStrong
Strong
Piotroski F-score 7 of 9
See the tests
  • ✓Positive net income
  • ✓Positive operating cash flow
  • ✓Return on assets improved
  • ✓Cash flow above net income
  • ✓Long-term debt / assets fell
  • ✗Current ratio improved
  • ✓No share dilution
  • ✗Gross margin improved
  • ✓Asset turnover improved

Computed by SURVYR. from the company's SEC filings (latest balance sheet Jul 3, 2026). Descriptive, not a forecast.

Key stats & company

Market value$16.0B
P/E (last 12 months)20.3
P/E (next 12 months, estimated)15.1
52-week range$35.44 – $64.78
Revenue growth (latest quarter vs a year ago)+10.6%
Dividend yieldNo dividend
Analyst consensusBuy (15)
Average analyst price target$55.53 (-15%)

What they do

Exelixis, Inc., an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.

Healthcare · Biotechnology
Valuation and fundamentals

Valuation & fundamentals

Bottom line
Looks undervalued
Model read-out from the numbers below, not advice. Score +3 (DCF counts double).
▲DCF (base case)above the price by 192%
▲Forward P/E vs sector15.1x vs median 18.0x
▲Piotroski F-score7/9
▲Altman Z17.3 (safe)
▲Net debt / EBITDA-0.7x
▼Analyst target-15% (15 analysts)

Discounted cash flow

Bear
$110
+68%
growth 7% · disc. 8.0% · term. 2.0%
Base
$191
+192%
growth 12% · disc. 7.0% · term. 2.5%
Bull
$337
+416%
growth 15% · disc. 6.0% · term. 3.0%

A DCF starts from trailing free cash flow, so it can overstate value if the last 12 months were unusually strong (or weak). Use the bear case or edit the starting cash flow if so.

Reverse DCFfor context, not a signal
Today's price implies shrinking cash flows: about -4% a year for 10 years.
Implied
-4%/yr
FCF, last 3 yrs
+38%/yr
FCF, last 5 yrs
+37%/yr
Revenue, last 3 yrs
+13%/yr
Revenue, last 5 yrs
+19%/yr
Same inputs as the DCF above: trailing free cash flow 1.2B, 7.0% discount rate, 2.5% growth after year 10, net cash and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2026; "n/a" means too little history or a negative starting year.
Edit assumptions · recalculates instantly
Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-07-03). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 0.47 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Health Care

P/E (trailing)
sector median 31.2× · 25th pct
 20.3×
cheaper
Forward P/E
sector median 18.0× · 36th pct
 15.1×
cheaper
EV / EBITDA
sector median 16.2× · 44th pct
 15.3×
cheaper
Price / sales
sector median 3.3× · 75th pct
 6.6×
pricier
Price / book
sector median 3.5× · 84th pct
 8.7×
pricier
FCF yield
sector median 4.0% · 83rd pct
 7.3%
cheaper

Forward EPS $4.27 vs trailing $3.17 (+35% expected growth). Forward P/E uses analysts' next-12-month estimate.

Backlog (remaining performance obligations)

RPO
$63.8M
as of 2023-09-29
vs a year ago
–
YoY
× TTM revenue
0.03×
coverage
21-04
21-07
21-10
21-12
22-12
23-03
23-06
23-09

Contracted revenue not yet recognized, from SEC filings (XBRL tag RevenueRemainingPerformanceObligation).

Quality & financial health

Gross margin
96.5%
Operating margin
39.9%
FCF margin
48.1%
Net margin
35.3%
Return on equity
46.7%
Return on invested capital
52.9%
Net debt / EBITDA
-0.7×
Current ratio
3.5×
Interest cover
–
Cash conversion (OCF/NI)
1.4×
Piotroski F-score 7/9 · last two fiscal years
✓ Positive net income✓ Positive operating cash flow✓ Return on assets improved✓ Cash flow above net income✓ Long-term debt / assets fell✗ Current ratio improved✓ No share dilution✗ Gross margin improved✓ Asset turnover improved

Altman Z-score 17.3 (safe zone; above 3.0 = safe, below 1.8 = distress). Not meaningful for banks and insurers.

Analysts

Mean target
$56
-15%
Analysts
15
Buy
Range
$41–$70
low – high
● price · ◆ mean target

Annual history

FYRevenueNet incomeFree cash flow
2026$2.3B$782.6M$875.8M
2025$2.2B$521.3M$671.5M
2023$1.8B$207.8M$292.9M
2022$1.6B$182.3M$334.9M
2021$1.4B$231.1M$346.6M
2021$987.5M$111.8M$178.6M

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +12.9%.

For information only · Important disclosures

Grades vs sector

Momentum
78th percentile in sector
B+
12-1 return: +51.0%
Percentile within its GICS sector across the S&P 1500.
Growth
62nd percentile in sector
B-
Revenue growth (YoY): +10.6%
Percentile within its GICS sector across the S&P 1500.
Value
62nd percentile in sector
B-
Forward E/P: 6.9% · EBITDA/EV: 6.9%
Percentile within its GICS sector across the S&P 1500.
Profitability
94th percentile in sector
A
Profit margin: +35.3% · Return on equity: +44.4%
Percentile within its GICS sector across the S&P 1500.
Revisions
Not enough data yet
–
EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Systematic Models

Not held by any of our 7 live models right now.

Quality Growth
Outside this model's universe or screens
 Momentum Top 15
Outside this model's universe or screens
 Momentum Blend
Not in the current book
 New Highs Growth
ranked 49 of 589 · 12-month momentum 34.7%
 SURVYR. Barbell Momentum & T-Bill Shield
Outside this model's universe or screens
 SURVYR. Physical AI Grid & Power
Outside this model's universe or screens
 SURVYR. Long Book
Not in the current book

Earnings & events

EXEL earningsNext report in 2 days
Next report · quarter Sep 2026
Thu Oct 29, 2026After the close
EPS consensus$0.90 range $0.81–$0.96
Revenue consensus$649.7M 15 analysts
Last 4 quarters · EPS vs estimate
Aug 5, 2026$0.91est $0.87+5.2%Above estimates
May 5, 2026$0.87est $0.76+14.0%Above estimates
Feb 10, 2026$0.94est $0.81+16.2%Above estimates
Nov 4, 2025$0.78est $0.67+16.2%Above estimates

In line = within 1% of the estimate.

Source: Yahoo Finance · report time: Nasdaq earnings calendar · refreshed 2026-10-21 11:29:04 ET
24-1025-0225-0525-0725-1126-0226-0526-080.000.94
EstimateActual (beat)Actual (miss)

Quarterly revenue

QuarterRevenueYoY
2026-06-30$628.7M+10.6%
2026-03-31$610.8M–
2025-12-31$598.7M–
2025-09-30$597.8M–
2025-06-30$568.3M–

News & catalysts

More news
2 Under-the-Radar Stocks to Buy and Hold
Motley Fool · Oct 16
Exelixis to Release Third Quarter 2026 Financial Results on Thursday, October 29, 2026
Business Wire · Oct 15
Why Exelixis (EXEL) is Poised to Beat Earnings Estimates Again
Zacks · Oct 15
Biotech Stocks To Watch: Regeneron Partner Has Breakout In Sight
Investor's Business Daily · Oct 14
Cancer Drug Spending Is Headed Past $400 Billion as Colorectal and Pancreatic Cancers Move Up the Research Agenda
CNW Group · Oct 14
Rating changes
Reiterated
2026-10-19 · Citizens reiterated Market Outperform on EXEL
Reiterated
2026-10-09 · RBC Capital reiterated Sector Perform on EXEL
Reiterated
2026-10-08 · RBC Capital reiterated Sector Perform on EXEL
Reiterated
2026-10-07 · Truist Securities reiterated Hold on EXEL
Initiated
2026-08-19 · BMO Capital started covering EXEL at Market Perform
Reiterated
2026-08-06 · Truist Securities reiterated Hold on EXEL

Third-party analyst actions, not SURVYR.'s views. All rating changes

Insider trades
Beckerle Mary C
Director · 2026-08-10
Sell
$526.5K

Stats refreshed 2026-10-21 11:29:04 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now

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Systematic research · Not investment advice · Hypothetical unless marked Live · Data: Yahoo Finance (15-min delayed), SEC EDGAR, House Clerk · Important disclosures · Contact desk@coteau.app

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Coteau 0.9 · Oct 21, 2026