Exelixis Inc. (NASDAQ:EXEL) reached a new 52-week high during trading on Wednesday . The stock traded as high as $8.55 and last traded at $8.50, with a volume of 1,123,822 shares traded. The stock had previously closed at $8.37.

EXEL has been the subject of several research analyst reports. Cowen and Company reaffirmed a “buy” rating on shares of Exelixis in a research report on Tuesday, May 24th. Leerink Swann reiterated a “buy” rating and issued a $8.00 price target (up from $7.00) on shares of Exelixis in a research note on Thursday, May 12th. Finally, Stifel Nicolaus increased their price target on shares of Exelixis from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Tuesday, April 26th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $7.63.

The firm’s 50 day moving average price is $7.65 and its 200-day moving average price is $5.30. The stock’s market capitalization is $1.94 billion.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data 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 earned $15.40 million during the quarter, compared to the consensus estimate of $9.11 million. During the same quarter in the prior year, the firm earned ($0.18) EPS. The business’s quarterly revenue was up 63.8% compared to the same quarter last year. Equities research analysts predict that Exelixis Inc. will post ($0.99) earnings per share for the current year.

In other news, Director Lance Willsey acquired 40,000 shares of the firm’s stock in a transaction on Monday, May 9th. The shares were bought at an average price 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 approximately $2,724,916.81. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Other hedge funds recently modified their holdings of the company. Tekla Capital Management LLC bought a new stake in shares of Exelixis during the fourth quarter worth about $5,775,000. ProShare Advisors LLC increased its stake in shares of 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 period. Finally, California State Teachers Retirement System increased its stake in shares of 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 period.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.