Exelixis Inc

EXEL remains in a Stage 2 advance with a recent Momentum Breakout, but price is extended above rising EMAs and overbought. Medium-term structure is bullish, but short-term timing conditions are unfavorable. We will defer execution, stalking for a pullback into the rising EMA cluster or prior resistance now acting as support.

• ↑Q2 2026 revenue $629M (+10% YoY), Cabozantinib sales $573M
• ↑Share repurchases of $312M in Q2; $598M buyback authorized
• ↓2026 guidance trimmed by $50M due to slower NET ramp