Overview

* Exelixis ( EXEL ) 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 ( EXEL ) 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 ( EXEL ) 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/Mis Actual Consensu

s s

Estimate

Q3 Beat $597.80 $590.30

Revenue mln mln (18

Analysts

)

Q3 Beat $217.90 $167.08

Adjusted mln mln (13

Net Analysts

Income )

Q3 Net $193.60

Income 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 ( EXEL ) 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:

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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.)