Exelixis Inc. (NASDAQ:EXEL) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $11.70 and last traded at $11.61, with a volume of 3,345,526 shares changing hands. The stock had previously closed at $11.44.

A number of brokerages have recently issued reports on EXEL. Leerink Swann reiterated an “outperform” rating and set a $12.00 price objective on shares of Exelixis in a report on Thursday, August 18th. Cowen and Company reiterated a “buy” rating on shares of Exelixis in a report on Wednesday, August 10th. Piper Jaffray Cos. reiterated a “neutral” rating and set a $8.00 price objective (up from $5.00) on shares of Exelixis in a report on Thursday, August 4th. Finally, Stifel Nicolaus boosted their price target on shares of Exelixis from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $9.63.

The stock’s market cap is $2.55 billion. The firm has a 50-day moving average of $9.54 and a 200-day moving average of $6.30.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.16) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.11. The firm had revenue of $36.25 million for the quarter, compared to analysts’ expectations of $16.76 million. During the same period in the previous year, the company earned ($0.22) EPS. The company’s quarterly revenue was up 353.7% on a year-over-year basis. On average, equities analysts predict that Exelixis Inc. will post ($0.71) EPS for the current year.

In other Exelixis news, insider Gisela Schwab sold 42,338 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $11.00, for a total value of $465,718.00. Following the completion of the transaction, the insider now directly owns 174,354 shares in the company, valued at approximately $1,917,894. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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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