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Benzinga
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Analyst Surprised By Exelixis Q2 Revenue Miss, Delays STELLAR-304 Readout, Halts STELLAR-305 Phase 3 Plans

1. EXEL's Q1 2025 adjusted earnings beat consensus at 75 cents per share. 2. Quarterly sales reached $568.3 million, missing the consensus of $571.27 million. 3. Cabozantinib revenues increased to $520 million, up from $437.6 million last year. 4. EXEL maintained 2025 sales guidance of $2.25-$2.35 billion, behind $2.334 billion consensus. 5. William Blair notes Cabometyx's continued strength in renal cell carcinoma.

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FAQ

Why Neutral?

Though earnings beat expectations, the revenue miss and guidance caution restraint. Historical examples show that mixed earnings results often lead to a lack of decisive price direction.

How important is it?

The miss on revenue and cautious guidance moderates expectations for future performance. Analyst ratings and Cabometyx's promising trends may provide some support.

Why Short Term?

Immediate reactions to earnings occur quickly, often within days. Longer-term impacts from pipeline developments may take longer to materialize.

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