• EN

    • -+ 0.00%
    -+ 0.00%
    -+ 0.00%

    Do Upgraded 2026 Earnings Forecasts Alter the Growth Narrative for Exelixis (EXEL)?

    Simply Wall St·04/07/2026 06:18:28
    Listen to the news
    • In recent weeks, Exelixis, the Alameda-based oncology biotech, has seen several Wall Street analysts raise their earnings estimates for fiscal 2026, citing improving expectations for the business.
    • This cluster of upward revisions, combined with Exelixis’ A-rated VGM Score and focus on difficult-to-treat cancers, has reinforced its appeal to investors who closely track analyst models and valuation metrics.
    • Next, we’ll explore how this wave of upgraded earnings forecasts could influence Exelixis’ investment narrative around growth, diversification, and risk.

    The best AI stocks today may lie beyond giants like Nvidia and Microsoft. Find the next big opportunity with these 21 smaller AI-focused companies with strong growth potential through early-stage innovation in machine learning, automation, and data intelligence that could fund your retirement.

    Exelixis Investment Narrative Recap

    To own Exelixis, you need to believe its cabozantinib franchise can remain resilient while the pipeline, especially in colorectal cancer, gradually takes on more of the load. The recent wave of upward 2026 earnings revisions supports confidence around near term execution, but it does not fundamentally change the key catalyst, which is zanzalintinib’s progress in colorectal cancer, or the biggest risk, which remains Exelixis’ heavy reliance on cabozantinib revenue.

    The most relevant recent announcement is the US FDA’s acceptance of Exelixis’ NDA for zanzalintinib plus atezolizumab in metastatic colorectal cancer, with a December 3, 2026 PDUFA date. This filing, backed by overall survival data from STELLAR 303, sits at the heart of the upgraded earnings forecasts, because a potential colorectal cancer approval would be a meaningful step toward diversifying away from cabozantinib and could influence how investors view the balance between growth and concentration risk.

    Yet, against this improving forecast backdrop, investors should also be aware of the lingering concentration and pricing risk around cabozantinib…

    Read the full narrative on Exelixis (it's free!)

    Exelixis' narrative projects $3.1 billion revenue and $1.1 billion earnings by 2028. This requires 11.7% yearly revenue growth and about a $500 million earnings increase from $602.3 million today.

    Uncover how Exelixis' forecasts yield a $46.83 fair value, a 6% upside to its current price.

    Exploring Other Perspectives

    EXEL 1-Year Stock Price Chart
    EXEL 1-Year Stock Price Chart

    Some of the lowest analysts were assuming revenues of about US$2.4 billion and earnings near US$590 million by 2029, so compared with today’s upbeat estimate revisions and the promise tied to zanzalintinib, you can see how much more cautious their story is and why it is worth comparing several viewpoints before deciding what you believe.

    Explore 11 other fair value estimates on Exelixis - why the stock might be worth 19% less than the current price!

    The Verdict Is Yours

    Don't just follow the ticker - dig into the data and build a conviction that's truly your own.

    Seeking Other Investments?

    These stocks are moving-our analysis flagged them today. Act fast before the price catches up:

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.