A Look at Exelixis (EXEL) Valuation After New CABINET Trial Data on CABOMETYX in Neuroendocrine Tumors

Exelixis (EXEL) just shared new results from a subgroup analysis of its phase 3 CABINET trial. The study showed that CABOMETYX substantially reduced disease progression or death in patients with advanced neuroendocrine tumors of the lung or thymus.

See our latest analysis for Exelixis.

Exelixis has been on investors’ radar thanks to regulatory milestones and encouraging trial updates like the new CABINET data. That buzz is showing up in the numbers, with a 15.7% year-to-date share price return and a striking 35.8% total shareholder return over the past year, suggesting momentum is still in play for those looking beyond the short term.

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With shares not far below consensus analyst price targets and strong financial results supporting recent gains, investors now face a familiar dilemma: Is more upside ahead, or has the market already factored in future growth?

Most Popular Narrative: 10.9% Undervalued

Exelixis’s widely-followed narrative points to a fair value above the last close of $39.25, suggesting the story is not fully priced in yet. What is supporting this view? A crucial detail in the company’s growth and diversification strategy provides a major catalyst for further gains.

Positive top-line results from pivotal trials (for example, STELLAR-303 for zanzalintinib in colorectal cancer) and an advancing late-stage pipeline provide significant potential for new product approvals and label expansions. This supports future earnings growth and further diversifies revenue streams as precision medicine and targeted therapy adoption accelerates across global oncology markets.

Read the complete narrative.

Want to unlock the narrative’s secret? There is a bold assumption about future profit margins and a significant projected earnings leap that powers this fair value call. Dive in to see the forecasts that could shift how Wall Street looks at Exelixis’s future.

Result: Fair Value of $44.06 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, increasing reliance on Cabometyx and the risk of pipeline setbacks remain potential catalysts that could challenge the current growth outlook.

Find out about the key risks to this Exelixis narrative.

Build Your Own Exelixis Narrative

If you see the story differently, or want to dive into the numbers on your own terms, you can build your personalized view in just a few minutes. Do it your way.

A good starting point is our analysis highlighting 3 key rewards investors are optimistic about regarding Exelixis.

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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.

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