15 Best Biotech Stocks to Buy According to Billionaires

9. Exelixis, Inc. (NASDAQ:EXEL)

Number of Billionaires: 13 

Dollar Value of Billionaire Holdings: $1,595,552,784 

Exelixis, Inc. (NASDAQ:EXEL) is focused on developing targeted cancer treatments. It specializes in molecular therapies that treat hard-to-treat cancers by targeting specific genetic mutations. The company generates revenue from its key drugs, CABOMETYX, COMETRIQ, and COTELLIC, along with licensing deals, royalties, and research collaborations.

Since the early 2000s, Exelixis, Inc. (NASDAQ:EXEL) has been involved in immunology research. One of their collaborations in 2002 revealed a new function for the PGRP-LC gene in Drosophila immunity, indicating that human immune systems may follow similar pathways. The business sought partnerships in immuno-oncology, including a 2022 deal with BioInvent that ended in 2024 and a 2024 cooperation with Merck to test zanzalintinib in conjunction with Merck’s immunotherapies for renal cell carcinoma and head and neck cancer. As one of the best biotech stocks in the field, Exelixis is expanding its biotherapeutics pipeline with an emphasis on tyrosine kinase inhibitors and innovative immuno-oncology therapies, while conducting clinical trials such as the STELLAR-001 and STELLAR-305 trials to investigate combinations of its compounds with immunotherapies.

With overall revenues of about $567 million in Q4 2024, Exelixis, Inc. (NASDAQ:EXEL) announced solid financial success. This was primarily due to a 20% year-over-year growth in U.S. cabozantinib (Cabo) franchise net product revenues, which reached $515 million. With full-year revenues of $2.5 billion, global Cabo revenues for the fourth quarter came to almost $690 million. Additionally, the business received $51.5 million in cooperation revenues, mostly from the sale of cabozantinib royalties. The company’s GAAP net income was $139.9 million while operating expenses came to $403 million. In 2024, the business also bought back $656 million worth of shares, and at the end of the year, it had $1.75 billion in cash and marketable securities. Continued demand for its CABOMETYX treatment for renal cell carcinoma is shown in the growth.