How Positive STELLAR-303 Results and Pipeline Advances Will Impact Exelixis (EXEL) Investors

• Exelixis recently reported positive topline results from the STELLAR-303 phase 3 trial of zanzalintinib in metastatic colorectal cancer and launched a pivotal trial for the same therapy in advanced pancreatic endocrine tumors.
• These clinical updates, paired with rising analyst optimism and upward revisions to 2025 earnings estimates, signal growing confidence in Exelixis' pipeline and R&D diversification.
• We'll explore how the latest STELLAR-303 trial results and pipeline progress may shift Exelixis' investment narrative and future outlook.

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Exelixis Investment Narrative Recap

Investors in Exelixis are generally betting that its pipeline can reduce dependence on CABOMETYX, its main revenue source, and deliver new growth through successful product launches and label expansions. The latest positive results from the STELLAR-303 trial with zanzalintinib reinforce the near-term catalyst of pipeline diversification, but the dominant risk, CABOMETYX’s eventual loss of exclusivity and the threat of generic competition, remains unaltered in the short term.

Of the recent company news, the strong topline results for STELLAR-303 in metastatic colorectal cancer stand out, as they directly support the potential for meaningful label expansion and revenue diversification. This trial’s success is directly linked to one of Exelixis' most important ongoing catalysts: expanding its addressable market beyond renal cell carcinoma and neuroendocrine tumors through differentiated late-stage assets.

However, contrasting this momentum, investors should be aware that heavy reliance on a single product like CABOMETYX still exposes the business to revenue swings if...

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

Exelixis' narrative projects $3.1 billion in revenue and $1.1 billion in earnings by 2028. This requires 11.7% yearly revenue growth and a $497.7 million increase in earnings from the current $602.3 million.

Uncover how Exelixis' forecasts yield a $44.06 fair value, a 15% upside to its current price.

Exploring Other Perspectives

Simply Wall St Community members offered 11 fair value estimates for Exelixis, ranging widely from US$36 to US$197.87 per share. With CABOMETYX still making up the majority of company revenue, these diverse opinions reflect the debate over potential pipeline success and long-term earnings stability.

Explore 11 other fair value estimates on Exelixis - why the stock might be worth over 5x more than the current price!

Build Your Own Exelixis Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Exelixis research is our analysis highlighting 3 key rewards that could impact your investment decision.
• Our free Exelixis research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Exelixis' overall financial health at a glance.

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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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