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We recently published a list of These 10 Firms Blowing Up by Double Digits Today. In this article, we are going to take a look at where Exelixis, Inc. (NASDAQ:EXEL) stands against other firms blowing up by double digits today.
Ten individual stocks soared by double digits on Wednesday, outperforming a lackluster performance among Wall Street’s indices, thanks to the 90-day truce between the US and China that continued to boost investor confidence.
In contrast, Wall Street’s indices were mixed, with the tech-heavy Nasdaq growing 0.72 percent, followed by the S&P 500, up 0.10 percent. The Dow Jones declined by 0.21 percent.
In this article, we name Wednesday’s 10 best-performing stocks and detail the reasons behind their gains.
To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.
A team of scientists in lab coats surrounded by pharmaceuticals and medical equipment, researching a life-saving oncology-focused biotechnology.
Exelixis, Inc. (NASDAQ:EXEL)
Exelixis soared by 20.84 percent on Wednesday to finish at $44.65 each following a strong earnings performance in the first three months, coupled with a more optimistic outlook for the rest of the year.
In its latest earnings release, Exelixis, Inc. (NASDAQ:EXEL) said net income expanded by 332 percent to $160 million from $37 million in the same period last year.
Revenues, on the other hand, grew by 30 percent to $555 million from $425 million year-on-year, primarily due to an increase in sales volume and an increase in average net selling price.
“Exelixis delivered outstanding financial performance in the first quarter of 2025, driven by accelerating growth in CABOMETYX demand, new patient starts, and revenues,” said President and CEO Michael Morrissey.
Based on the strong figures, the company has raised its growth outlook for net product revenues and total revenues, both by $100 million for the full year.
Overall, EXEL ranks 1st on our list of firms blowing up by double digits today. While we acknowledge the potential of EXEL as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than EXEL but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.