Exelixis stock rises 13.3% year to date, driven by positive news and promising pipeline progress

From Zacks Investment Research: 2025-03-26 16:02:00

Shares of Exelixis, Inc. (EXEL) have risen 13.3% year to date, outperforming the industry, sector, and S&P 500. The company announced a new $500 million share repurchase program, drove by better-than-expected fourth-quarter results. Cabometyx, Exelixis’ lead drug, maintains its status in the treatment of renal cell carcinoma and hepatocellular carcinoma. The FDA accepted EXEL’s supplemental new drug application for cabozantinib for advanced pancreatic and extra-pancreatic neuroendocrine tumors. Exelixis collaboration with Merck for zanzalintinib in late-stage studies for head and neck squamous cell carcinoma shows promising pipeline progress. The company is also focused on developing other pipeline candidates to broaden its portfolio and reduce dependence on Cabometyx. Exelixis continues to increase shareholder value through stock repurchase programs, returning more than $1.2 billion to shareholders. While existing investors should stay invested, prospective investors should wait for better entry levels as the stock carries a Zacks Rank #3 (Hold).



Read more at Zacks Investment Research: Exelixis Stock Rises 13.3% Year to Date: Buy, Sell or Hold? – March 26, 2025