If Decades of History Tell Us Anything, This Biotech Near $50 Is Primed to Skyrocket

Exelixis is an oncology biotechnology company that discovers and commercializes targeted cancer therapies, including CABOMETYX for kidney, liver, and thyroid cancers. Shares trade near $50 and have risen over the past month and year to date. Q1 2026 non-GAAP EPS was $0.87, beating consensus by 14.02%, on revenue of $610.81 million, up 9.97% year over year. Operating income increased 34.51% and net income rose 31.86%, with four consecutive earnings beats and surprise margins between 14.02% and 17.17%. The stock trades at a trailing P/E of 17 and forward P/E of 16, with analyst targets around the high-$40s to mid-$50s. CABOMETYX is described as a leading TKI in renal cell carcinoma, and the global cabozantinib franchise grew 12.5% year over year to $764 million in Q1.

"Exelixis is an oncology-focused biotechnology company headquartered in Alameda, California, that discovers and commercializes targeted cancer therapies, most notably CABOMETYX in kidney, liver, and thyroid cancers. Shares trade near $50, after a 12.05% gain over the past month and a 14.15% year-to-date advance. For a retail investor, that price point still buys a profitable mid-cap biotech with a $12.58 billion market capitalization rather than a speculative clinical-stage name."

"Fundamentals back up the price action. Q1 2026 non-GAAP EPS came in at $0.87, beating consensus by 14.02%, on revenue of $610.81 million, up 9.97% year over year. Operating income jumped 34.51% and net income climbed 31.86%. That marks four consecutive earnings beats with surprise margins between 14.02% and 17.17%."

"The stock trades at a trailing P/E of 17 and a forward P/E of 16, with an analyst target price of $49.65 reflecting one strong buy, nine buy, and nine hold ratings. H.C. Wainwright carries a $54 price target with a Buy rating."

"The bull case is straightforward. CABOMETYX is the number one prescribed TKI in renal cell carcinoma, and global cabozantinib franchise revenue grew 12.5% year over year to $764 million in Q1. Management is sitting on roughly $1.4 billion in cash and marketable securities and just authorize"

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