EXELIXIS, INC.
EXEL · Biological Products, (No Diagnostic Substances) · 251.4M shares · +1%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: $444M (gross $550M, SBC $106M)
Reference price $50.55 · est. market cap ~$12.7B — last insider sale, 2026-06-01 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
A84Oncology biotech (Cabometyx) with elite margins, strong returns, and a cash-rich balance sheet.
Strengths
- Elite margins/returns — operating margin 38% (97th), net margin 34% (97th), ROA 28% (95th)
- Strong FCF, debt-light — FCF $876M (97th), FCF margin 38%
- Cash-rich — current ratio 3.6
Risks
- Cabometyx-franchise concentration & patent timeline — per 10-K
- Pipeline-diversification execution — per 10-K
- Oncology competition — per 10-K
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Strong balance sheetStrong balance sheet — $1.7B cash & investments
- Notable holderHeld by 6 notable fund(s): RENAISSANCE TECHNOLOGIES LLC, STATE STREET CORP, FMR LLC +3 more (as of 2026-03-31)
- Insider sellingInsider selling — 23 open-market sale(s) by 11 insider(s) (cluster of 11 insiders, ~$31M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
96.4%
Operating margin
37.6%
Net margin
33.7%
Return on equity
36.2%
Return on assets
27.5%
Revenue growth (QoQ)
2.0%
Net-income growth
50.1%
Current ratio
3.6×
Free cash flow
$876M
EBITDA
$901M
Tangible book value
$2.1B
Cash & investments
$1.7B
Stock comp / revenue
4.9%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-01 | Eckhardt Sue Gail | Sell | 9.8K | $50.14 |
| 2026-06-01 | WYSZOMIERSKI JACK L | Sell | 3.9K | $50.55 |
| 2026-05-27 | Eckhardt Sue Gail | Grant | 8.4K | — |
| 2026-05-27 | Smith Julie | Grant | 8.4K | — |
| 2026-05-27 | Freire Maria C | Grant | 8.4K | — |
| 2026-05-27 | Beckerle Mary C | Grant | 8.4K | — |
| 2026-05-27 | Oliver Bob | Grant | 8.4K | — |
| 2026-05-27 | Heyman Tomas J. | Grant | 8.4K | — |
| 2026-05-27 | WYSZOMIERSKI JACK L | Grant | 8.4K | — |
| 2026-05-27 | POSTE GEORGE | Grant | 8.4K | — |
| 2026-05-27 | PAPADOPOULOS STELIOS | Grant | 8.4K | — |
| 2026-05-26 | Aftab Dana | Sell | 43K | $50.35 |
| 2026-05-20 | Haley Patrick J. | Sell | 32K | $49.81 |
| 2026-05-18 | Hefti Brenda | Sell | 6.6K | $50.21 |
| 2026-05-18 | Senner Christopher J. | Sell | 35K | $50.00 |
| 2026-05-18 | MORRISSEY MICHAEL | Gift | 124K | — |
| 2026-05-18 | MORRISSEY MICHAEL | Gift | 124K | — |
| 2026-05-15 | Haley Patrick J. | Tax withheld | 33K | $51.10 |
| 2026-05-15 | MORRISSEY MICHAEL | Tax withheld | 128K | $51.10 |
| 2026-05-15 | Senner Christopher J. | Tax withheld | 41K | $51.10 |
| 2026-05-15 | Hefti Brenda | Tax withheld | 6.4K | $51.10 |
| 2026-05-15 | Aftab Dana | Tax withheld | 31K | $51.10 |
| 2026-05-07 | Beckerle Mary C | Sell | 7.7K | $48.45 |
| 2026-05-07 | Beckerle Mary C | Option exercise | 3.9K | $23.24 |
| 2026-05-07 | Freire Maria C | Option exercise | 21K | $19.77 |
| 2026-05-07 | Freire Maria C | Sell | 21K | $46.00 |
| 2026-05-07 | POSTE GEORGE | Sell | 60K | $45.71 |
| 2026-05-06 | MORRISSEY MICHAEL | Gift | 110K | — |
| 2026-02-26 | Senner Christopher J. | Grant | 52K | — |
| 2026-02-26 | Aftab Dana | Grant | 52K | — |
| 2026-02-26 | Hefti Brenda | Grant | 23K | — |
| 2026-02-26 | Haley Patrick J. | Grant | 40K | — |
| 2026-02-26 | MORRISSEY MICHAEL | Grant | 160K | — |
| 2026-02-24 | Aftab Dana | Sell | 48K | $44.50 |
| 2026-02-24 | MORRISSEY MICHAEL | Gift | 100K | — |
| 2026-02-19 | Aftab Dana | Sell | 30K | $44.35 |
| 2026-02-18 | MORRISSEY MICHAEL | Gift | 125K | — |
| 2026-02-18 | WYSZOMIERSKI JACK L | Option exercise | 21K | $19.77 |
| 2026-02-18 | WYSZOMIERSKI JACK L | Sell | 100K | $44.01 |
| 2026-02-18 | Smith Julie | Option exercise | 44K | $19.39 |
| 2026-02-18 | Smith Julie | Sell | 44K | $44.50 |
| 2026-02-18 | Smith Julie | Option exercise | 20K | $21.69 |
| 2026-02-18 | Smith Julie | Sell | 20K | $44.30 |
| 2026-02-18 | MORRISSEY MICHAEL | Gift | 125K | — |
| 2026-02-18 | Hefti Brenda | Sell | 19K | $44.01 |
| 2026-02-17 | Haley Patrick J. | Sell | 3.0K | $43.84 |
| 2026-02-17 | MORRISSEY MICHAEL | Gift | 251K | — |
| 2026-02-17 | MORRISSEY MICHAEL | Gift | 251K | — |
| 2026-02-17 | Smith Julie | Sell | 42K | $43.33 |
| 2026-02-17 | Smith Julie | Option exercise | 42K | $18.19 |
| 2026-02-17 | Haley Patrick J. | Sell | 65K | $43.50 |
| 2026-02-17 | Senner Christopher J. | Sell | 31K | $43.67 |
| 2026-02-15 | Haley Patrick J. | Tax withheld | 31K | $43.92 |
| 2026-02-15 | Aftab Dana | Tax withheld | 13K | $43.92 |
| 2026-02-15 | Senner Christopher J. | Tax withheld | 36K | $43.92 |
| 2026-02-15 | Hefti Brenda | Tax withheld | 5.4K | $43.92 |
| 2026-02-15 | MORRISSEY MICHAEL | Tax withheld | 120K | $43.92 |
| 2026-02-15 | Aftab Dana | Tax withheld | 26K | $43.92 |
| 2026-02-13 | MORRISSEY MICHAEL | Option exercise | 495K | $21.31 |
| 2026-02-13 | MORRISSEY MICHAEL | Tax withheld | 370K | $43.92 |
| 2026-02-13 | Eckhardt Sue Gail | Sell | 3.9K | $43.79 |
| 2026-02-13 | Oliver Bob | Option exercise | 9.1K | $19.28 |
| 2026-02-13 | Oliver Bob | Sell | 9.1K | $43.61 |
| 2026-02-13 | Oliver Bob | Sell | 21K | $43.90 |
| 2026-02-13 | Senner Christopher J. | Sell | 34K | $43.00 |
| 2026-01-15 | MORRISSEY MICHAEL | Grant | 548K | — |
| 2026-01-15 | MORRISSEY MICHAEL | Tax withheld | 140K | $45.23 |
| 2026-01-15 | Aftab Dana | Grant | 120K | — |
| 2026-01-15 | Aftab Dana | Tax withheld | 27K | $45.23 |
| 2026-01-15 | Haley Patrick J. | Grant | 140K | — |
| 2026-01-15 | Haley Patrick J. | Tax withheld | 32K | $45.23 |
| 2026-01-15 | Senner Christopher J. | Grant | 149K | — |
| 2026-01-15 | Senner Christopher J. | Tax withheld | 40K | $45.23 |
| 2025-12-03 | Hefti Brenda | Grant | 30K | — |
| 2025-11-25 | JOHNSON DAVID EDWARD | Buy | 28K | $43.12 |
| 2025-11-21 | Haley Patrick J. | Sell | 28K | $42.58 |
| 2025-11-21 | Aftab Dana | Gift | 24K | — |
| 2025-11-20 | Haley Patrick J. | Sell | 11K | $41.77 |
| 2025-11-20 | Haley Patrick J. | Sell | 10K | $42.11 |
| 2025-11-20 | Haley Patrick J. | Sell | 24K | $41.93 |
| 2025-11-17 | Oliver Bob | Gift | 1.0K | — |
| 2025-11-12 | MORRISSEY MICHAEL | Gift | 80K | — |
| 2025-11-12 | PAPADOPOULOS STELIOS | Sell | 100K | $43.55 |
| 2025-11-12 | MORRISSEY MICHAEL | Gift | 102K | — |
| 2025-11-12 | MORRISSEY MICHAEL | Gift | 102K | — |
| 2025-11-11 | Beckerle Mary C | Sell | 19K | $41.90 |
| 2025-11-11 | MORRISSEY MICHAEL | Gift | 160K | — |
| 2025-11-11 | Aftab Dana | Sell | 48K | $42.50 |
| 2025-11-11 | Beckerle Mary C | Option exercise | 5.8K | $23.24 |
| 2025-11-11 | Beckerle Mary C | Sell | 5.8K | $42.03 |
| 2025-10-08 | Aftab Dana | Grant | 51K | — |
| 2025-06-03 | WYSZOMIERSKI JACK L | Sell | 7.5K | $43.09 |
| 2025-06-02 | Eckhardt Sue Gail | Sell | 4 | $43.67 |
| 2025-06-02 | Eckhardt Sue Gail | Sell | 19K | $42.74 |
| 2025-05-29 | Freire Maria C | Grant | 9.8K | — |
| 2025-05-29 | Heyman Tomas J. | Grant | 9.8K | — |
| 2025-05-29 | WYSZOMIERSKI JACK L | Grant | 9.8K | — |
| 2025-05-29 | PAPADOPOULOS STELIOS | Grant | 9.8K | — |
| 2025-05-29 | Eckhardt Sue Gail | Grant | 9.8K | — |
| 2025-05-29 | Smith Julie | Grant | 9.8K | — |
| 2025-05-29 | Beckerle Mary C | Grant | 9.8K | — |
| 2025-05-29 | Oliver Bob | Grant | 9.8K | — |
| 2025-05-29 | POSTE GEORGE | Grant | 9.8K | — |
| 2025-05-21 | Heyman Tomas J. | Sell | 4.5K | $44.29 |
| 2025-05-20 | Haley Patrick J. | Sell | 34K | $44.06 |
| 2025-05-16 | POSTE GEORGE | Sell | 21K | $45.99 |
| 2025-05-16 | MORRISSEY MICHAEL | Gift | 88K | — |
| 2025-05-16 | MORRISSEY MICHAEL | Gift | 88K | — |
| 2025-05-16 | Senner Christopher J. | Sell | 100K | $46.00 |
| 2025-05-16 | Peterson Amy C. | Sell | 73K | $45.47 |
| 2025-05-16 | Peterson Amy C. | Option exercise | 40K | $21.75 |
| 2025-05-16 | Senner Christopher J. | Option exercise | 100K | $18.80 |
| 2025-05-16 | POSTE GEORGE | Option exercise | 21K | $19.77 |
| 2025-05-15 | Haley Patrick J. | Tax withheld | 35K | $44.65 |
| 2025-05-15 | Aftab Dana | Tax withheld | 31K | $44.65 |
| 2025-05-15 | Senner Christopher J. | Tax withheld | 41K | $44.65 |
| 2025-05-15 | PAPADOPOULOS STELIOS | Option exercise | 21K | $19.77 |
| 2025-05-15 | PAPADOPOULOS STELIOS | Sell | 21K | $44.35 |
| 2025-05-15 | PAPADOPOULOS STELIOS | Option exercise | 16K | $20.50 |
| 2025-05-15 | PAPADOPOULOS STELIOS | Sell | 16K | $44.35 |
| 2025-05-15 | MORRISSEY MICHAEL | Tax withheld | 105K | $44.65 |
| 2025-05-15 | Hessekiel Jeffrey | Tax withheld | 34K | $44.65 |
| 2025-05-15 | Hessekiel Jeffrey | Sell | 25K | $46.18 |
| 2025-05-15 | Haley Patrick J. | Sell | 10K | $46.95 |
| 2025-05-15 | Haley Patrick J. | Option exercise | 116K | $18.80 |
| 2025-05-15 | Haley Patrick J. | Sell | 116K | $48.05 |
| 2025-05-15 | Peterson Amy C. | Tax withheld | 8.3K | $44.65 |
| 2025-05-14 | Haley Patrick J. | Sell | 10K | $42.68 |
| 2025-05-14 | MORRISSEY MICHAEL | Option exercise | 308K | $18.80 |
| 2025-05-14 | MORRISSEY MICHAEL | Tax withheld | 220K | $44.65 |
| 2025-05-01 | Aftab Dana | Sell | 1.5K | $39.00 |
| 2025-03-31 | Peterson Amy C. | Grant | 159K | — |
| 2025-03-31 | MORRISSEY MICHAEL | Grant | 590K | — |
| 2025-03-31 | Aftab Dana | Grant | 133K | — |
| 2025-03-31 | Hessekiel Jeffrey | Grant | 154K | — |
| 2025-03-31 | Haley Patrick J. | Grant | 159K | — |
| 2025-03-31 | Senner Christopher J. | Grant | 170K | — |
| 2025-03-03 | Haley Patrick J. | Sell | 10K | $38.80 |
| 2025-02-28 | WYSZOMIERSKI JACK L | Sell | 8.8K | $37.80 |
| 2025-02-28 | Smith Julie | Sell | 19K | $37.62 |
| 2025-02-28 | WYSZOMIERSKI JACK L | Option exercise | 16K | $20.50 |
| 2025-02-28 | Smith Julie | Option exercise | 19K | $19.77 |
| 2025-02-27 | Smith Julie | Option exercise | 23K | $19.77 |
| 2025-02-27 | Smith Julie | Option exercise | 31K | $20.50 |
| 2025-02-27 | Smith Julie | Sell | 55K | $38.13 |
| 2025-02-26 | Peterson Amy C. | Grant | 52K | — |
| 2025-02-26 | MORRISSEY MICHAEL | Grant | 185K | — |
| 2025-02-26 | Hessekiel Jeffrey | Grant | 52K | — |
| 2025-02-26 | Aftab Dana | Grant | 49K | — |
| 2025-02-26 | Senner Christopher J. | Grant | 60K | — |
| 2025-02-26 | Haley Patrick J. | Grant | 48K | — |
| 2025-02-25 | Oliver Bob | Option exercise | 15K | $19.28 |
| 2025-02-25 | Oliver Bob | Sell | 19K | $37.25 |
| 2025-02-24 | MORRISSEY MICHAEL | Gift | 178K | — |
| 2025-02-24 | Haley Patrick J. | Sell | 53K | $36.98 |
| 2025-02-24 | Aftab Dana | Sell | 27K | $36.75 |
| 2025-02-24 | MORRISSEY MICHAEL | Gift | 178K | — |
| 2025-02-24 | Senner Christopher J. | Option exercise | 29K | $18.80 |
| 2025-02-24 | Senner Christopher J. | Sell | 29K | $36.14 |
| 2025-02-15 | Senner Christopher J. | Tax withheld | 22K | $35.00 |
| 2025-02-15 | Hessekiel Jeffrey | Tax withheld | 18K | $35.00 |
| 2025-02-15 | MORRISSEY MICHAEL | Tax withheld | 64K | $35.00 |
| 2025-02-15 | Aftab Dana | Tax withheld | 13K | $35.00 |
| 2025-02-15 | Aftab Dana | Tax withheld | 16K | $35.00 |
| 2025-02-15 | Haley Patrick J. | Tax withheld | 19K | $35.00 |
| 2025-02-14 | Freire Maria C | Option exercise | 28K | $22.10 |
| 2025-02-14 | Beckerle Mary C | Option exercise | 8.4K | $23.24 |
| 2025-02-14 | Beckerle Mary C | Sell | 8.4K | $34.87 |
| 2025-02-14 | Beckerle Mary C | Sell | 3.9K | $34.90 |
| 2025-02-14 | POSTE GEORGE | Option exercise | 16K | $20.50 |
| 2025-02-14 | POSTE GEORGE | Sell | 16K | $34.74 |
| 2025-02-14 | Freire Maria C | Option exercise | 16K | $20.50 |
| 2025-02-14 | Freire Maria C | Sell | 44K | $34.94 |
| 2025-02-14 | Eckhardt Sue Gail | Option exercise | 7.7K | $23.24 |
| 2025-02-14 | Eckhardt Sue Gail | Sell | 7.7K | $35.01 |
| 2025-02-14 | Eckhardt Sue Gail | Sell | 3.9K | $35.04 |
| 2025-01-16 | MORRISSEY MICHAEL | Grant | 473K | — |
| 2025-01-16 | MORRISSEY MICHAEL | Tax withheld | 120K | $37.27 |
| 2025-01-16 | Senner Christopher J. | Grant | 133K | — |
| 2025-01-16 | Senner Christopher J. | Tax withheld | 36K | $37.27 |
| 2025-01-16 | Hessekiel Jeffrey | Grant | 119K | — |
| 2025-01-16 | Hessekiel Jeffrey | Tax withheld | 26K | $37.27 |
| 2025-01-16 | Aftab Dana | Grant | 104K | — |
| 2025-01-16 | Aftab Dana | Tax withheld | 23K | $37.27 |
| 2025-01-16 | Haley Patrick J. | Grant | 124K | — |
| 2025-01-16 | Haley Patrick J. | Tax withheld | 28K | $37.27 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT06191796 ↗ | Study of Zanzalintinib (XL092) + AB521 and Zanzalintinib + AB521 + Nivolumab in Participants With Advanced Clear Cell Renal Cell Carcinoma (ccRCC) or Other Advanced Solid Tumors (STELLAR-009) Advanced Clear Cell Renal Cell Carcinoma or Other Advanced Solid Tumors | PHASE1 | Terminated | 2025-05-12 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Supply chain
Customers (4)
- Daiichi Sankyo Company, Limited
- Genentech, Inc.
- Ipsen Pharma SAS
- Takeda Pharmaceutical Company Limited
Suppliers (0)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-29 | Exec/director changeShareholder voteExhibits | filing ↗ |
| 2026-05-05 | ResultsOtherExhibits | filing ↗ |
| 2026-02-10 | ResultsExhibits | filing ↗ |
| 2026-01-12 | ResultsExhibits | filing ↗ |
| 2025-11-07 | Exec/director changeOther | filing ↗ |
| 2025-11-04 | ResultsOtherExhibits | filing ↗ |
| 2025-08-29 | Exec/director change | filing ↗ |
| 2025-07-28 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-29 | 2026-05-26 | 0000939767-26-000074 ↗ |
| 8-K | 2026-05-05 | 2026-05-05 | 0000939767-26-000058 ↗ |
| 10-Q | 2026-05-05 | 2026-04-03 | 0000939767-26-000059 ↗ |
| 10-K | 2026-02-10 | 2026-01-02 | 0000939767-26-000021 ↗ |
| 8-K | 2026-02-10 | 2026-02-10 | 0000939767-26-000019 ↗ |
| 8-K | 2026-01-12 | 2026-01-11 | 0000939767-26-000003 ↗ |
| 8-K | 2025-11-07 | 2025-11-04 | 0000939767-25-000133 ↗ |
| 10-Q | 2025-11-04 | 2025-10-03 | 0000939767-25-000128 ↗ |
| 8-K | 2025-11-04 | 2025-11-04 | 0000939767-25-000127 ↗ |
| 8-K | 2025-08-29 | 2025-08-29 | 0000939767-25-000115 ↗ |
| 8-K | 2025-07-28 | 2025-07-28 | 0000939767-25-000111 ↗ |
| 10-Q | 2025-07-28 | 2025-07-04 | 0000939767-25-000113 ↗ |