Shares of Exelixis Inc. (NASDAQ:EXEL) rose 2.2% during mid-day trading on Friday . The company traded as high as $8.47 and last traded at $8.40, with a volume of 2,812,709 shares changing hands. The stock had previously closed at $8.22.

EXEL has been the topic of a number of recent research reports. Leerink Swann reiterated an “outperform” rating and issued a $10.00 price objective (up from $8.00) on shares of Exelixis in a report on Tuesday, June 21st. Stifel Nicolaus upgraded shares of Exelixis from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Monday, April 4th. Finally, Cowen and Company reiterated a “buy” rating on shares of Exelixis in a report on Tuesday, May 24th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Exelixis has a consensus rating of “Buy” and an average target price of $7.63.

The stock’s market cap is $1.93 billion. The firm has a 50-day moving average price of $7.57 and a 200 day moving average price of $5.26.

Exelixis (NASDAQ:EXEL) last released its earnings results on Wednesday, May 4th. The biotechnology company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by $0.02. The business had revenue of $15.40 million for the quarter, compared to analyst estimates of $9.11 million. During the same period in the previous year, the company earned ($0.18) earnings per share. The business’s revenue for the quarter was up 63.8% on a year-over-year basis. Analysts anticipate that Exelixis Inc. will post ($1.00) EPS for the current year.

In other Exelixis news, Director Lance Willsey purchased 40,000 shares of the business’s stock in a transaction on Monday, May 9th. The shares were purchased at an average cost of $4.97 per share, for a total transaction of $198,800.00. Following the acquisition, the director now owns 548,273 shares of the company’s stock, valued at $2,724,916.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Other institutional investors have bought and sold shares of the company. Tekla Capital Management LLC acquired a new position in Exelixis during the fourth quarter worth about $5,775,000. ProShare Advisors LLC boosted its position in Exelixis by 11.4% in the fourth quarter. ProShare Advisors LLC now owns 215,541 shares of the biotechnology company’s stock worth $1,216,000 after buying an additional 22,096 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in Exelixis by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 417,800 shares of the biotechnology company’s stock worth $2,356,000 after buying an additional 6,682 shares during the last quarter.

Exelixis, Inc is a biopharmaceutical company. The Company is engaged in developing small molecule therapies for the treatment of cancer. It focuses on the development and commercialization of cabozantinib, an inhibitor of multiple receptor tyrosine kinases, in various tumor indications. Cabozantinib is indicated for the treatment of progressive, metastatic medullary thyroid cancer, and is sold under the brand name COMETRIQ.

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