Exelixis Inc. (NASDAQ:EXEL) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $9.39 and last traded at $9.25, with a volume of 3,392,257 shares changing hands. The stock had previously closed at $9.18.

A number of equities research analysts have issued reports on EXEL shares. Stifel Nicolaus raised shares of Exelixis from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research note on Monday, April 4th. Cowen and Company reissued a “buy” rating on shares of Exelixis in a research note on Sunday, April 17th. Finally, Leerink Swann reissued a “buy” rating and set a $8.00 target price (up previously from $7.00) on shares of Exelixis in a research note on Thursday, May 12th. Five research analysts have rated the stock with a buy rating, Exelixis currently has an average rating of “Buy” and an average price target of $8.17.

The firm’s market cap is $2.12 billion. The firm’s 50-day moving average price is $8.07 and its 200-day moving average price is $5.50.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings results on Wednesday, May 4th. The biotechnology company reported ($0.27) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.02. The company had revenue of $15.40 million for the quarter, compared to analyst estimates of $9.11 million. During the same period last year, the business posted ($0.18) earnings per share. Exelixis’s revenue was up 63.8% compared to the same quarter last year. Analysts forecast that Exelixis Inc. will post ($0.97) earnings per share for the current fiscal year.

In other news, Director Lance Willsey bought 40,000 shares of the stock in a transaction on Monday, May 9th. The stock was purchased at an average price of $4.97 per share, with a total value of $198,800.00. Following the completion of the purchase, the director now owns 548,273 shares of the company’s stock, valued at $2,724,916.81. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

An institutional investor recently raised its position in Exelixis stock. ProShare Advisors LLC boosted its stake in shares of Exelixis Inc. (NASDAQ:EXEL) by 11.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 215,541 shares of the biotechnology company’s stock after buying an additional 22,096 shares during the period. ProShare Advisors LLC owned approximately 0.09% of Exelixis worth $1,216,000 at the end of the most recent reporting 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.

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