Exelixis Inc (EXEL) fair value: what the stock is really worth
We calculate from audited financials what Exelixis Inc is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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Exelixis Inc
EXEL · USStrongly undervaluedStrong Fair Value upside with high Quality.
What runs behind every stock
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 18, 2026.
How to read this chart
60‑month range $14.96 – $59.13 · fair‑value band $53.29 – $211.01 · the $58.36 price screens below the $106.20 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 18, 2026.
Company profile
Exelixis, Inc., an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States.
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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. Its CABOMETYX and COMETRIQ are derived from cabozantinib, an inhibitor of multiple tyrosine kinases, including MET, AXL, RET, and VEGF receptors. The company also offers COTELLIC, an inhibitor of MEK as a combination regimen to treat specific forms of advanced melanoma; and MINNEBRO, an oral non-steroidal selective blocker of the mineralocorticoid receptor for the treatment of hypertension in Japan. It develops zanzalintinib, a novel, potent oral inhibitor of kinases, including the TAM kinases, MET, and VEGF receptors; XL309, a small molecule inhibitor of USP1, a synthetic lethal target in the context of BRCA-mutated tumors; XB010, an antibody-drug conjugates (ADC) consisting of a MMAE payload conjugated to a monoclonal antibody targeting the tumor antigen 5T4; XB628, a first-in-class bispecific antibody that targets programmed cell death ligand 1and natural killer cell receptor group 2A; and XB371, a next-generation tissue factor targeting ADC with a topoisomerase inhibitor payload. It has research collaborations and license agreements with Ipsen Pharma SAS; Takeda Pharmaceutical Company Ltd.; F. Hoffmann-La Roche Ltd.; Catalent, Inc.; Iconic Therapeutics, Inc.; Adagene Inc.; Invenra, Inc.; Genentech, Inc.; Bristol-Myers Squibb Company; and Daiichi Sankyo Company, Limited, as well as business development activities and other collaborations. The company was formerly known as Exelixis Pharmaceuticals, Inc. and changed its name to Exelixis, Inc. in February 2000. Exelixis, Inc. was incorporated in 1994 and is headquartered in Alameda, California.
Stock analysis
Exelixis Inc (EXEL) currently trades at $58.36, while our model-based Fair Value estimate is $106.20, implying the stock looks roughly 45.0% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $107.58 per share, and 15 of the 24 models we run sit above the $58.36 price.
Bear case: the Economic Profit group reads lowest at $33.90, and 9 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: $53.29 (bear) to $211.01 (bull), the price of $58.36 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 94/100 (high quality), in the Healthcare sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Exelixis Inc reported revenue of $2.3B in FY2025 versus $1.4B in FY2021, a compound +12.8%/yr. Reported net income was $783M in FY2025, compounding +35.7%/yr from FY2021.
Key figures
Market cap $16.4B · P/E ratio 19.4 · P/S ratio 6.54 · EPS (TTM) $3.01 · Net margin 33.7% · Return on equity 41.0% · Return on assets (EBIT) 14.9% · Operating margin 41.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 61 out of 100 (medium confidence).
What moves the price
The share trades near its 52-week high and 73% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −7% fair-value upside, at 82%, EXEL screens cheaper than that median.
Fair Value models
All 24 models by family
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Set up alert →Quality Score breakdown
Of which business quality 90 · Market factors (momentum, volatility) 80
Revenue & earnings trend
Growth Forecast
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Compare Exelixis Inc with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Biotechnology · 653 stocks
Valuation Multiplesvs Biotechnology median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Health Care sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Biotechnology stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Vertex Pharmaceuticals Incorporated VRTX | $514.63 | $566.09 | +10% |
| Regeneron Pharmaceuticals, Inc REGN | $774.11 | $1,241 | +60% |
| argenx SE ARGX | $984.69 | $917.18 | −7% |
| BeOne Medicines AG 688235 | ¥247.30 | ¥124.62 | −50% |
| Samsung Biologics Co 207940 | 1,396,000 KRW | 1,535,600 KRW | +10% |
| CSL Limited CSL | A$174.41 | A$191.85 | +10% |
| Alnylam Pharmaceuticals, Inc ALNY | $238.27 | $211.88 | −11% |
| Royalty Pharma plc RPRX | $58.47 | $24.22 | −59% |
| Celltrion, Inc 068270 | 180,300 KRW | 74,519 KRW | −59% |
| BioNTech SE BNTX | $96.69 | $62.63 | −35% |
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Key figures of Exelixis Inc
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