Exelixis Inc. (NASDAQ:EXEL)’s share price hit a new 52-week high on Tuesday . The company traded as high as $8.76 and last traded at $8.68, with a volume of 3,459,165 shares traded. The stock had previously closed at $8.71.

A number of equities analysts recently weighed in on the stock. Cowen and Company restated a “buy” rating on shares of Exelixis in a research report on Sunday, April 17th. Leerink Swann restated a “buy” rating and set a $8.00 target price (up previously from $7.00) on shares of Exelixis in a research report on Thursday, May 12th. Finally, Stifel Nicolaus upped their target price on shares of Exelixis from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Tuesday, April 26th. Five research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average target price of $8.17.

The firm’s market capitalization is $1.98 billion. The company’s 50-day moving average is $7.89 and its 200-day moving average is $5.39.

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

In other news, Director Lance Willsey acquired 40,000 shares of the firm’s stock in a transaction dated Monday, May 9th. The stock was acquired at an average cost of $4.97 per share, with a total value of $198,800.00. Following the completion of the acquisition, the director now owns 548,273 shares of the company’s stock, valued at $2,724,916.81. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

An institutional investor recently raised its position in Exelixis stock. ProShare Advisors LLC increased its stake in Exelixis Inc. (NASDAQ:EXEL) by 11.4% during the fourth quarter, according to its most recent Form 13F filing 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 0.09% of Exelixis worth $1,216,000 as of its most recent SEC filing.

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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