Exelixis Inc. (NASDAQ:EXEL) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $8.76 and last traded at $8.68, with a volume of 3,459,165 shares changing hands. The stock had previously closed at $8.71.

A number of research analysts have recently commented on the company. Leerink Swann reiterated a “buy” rating and set a $10.00 target price on shares of Exelixis in a research report on Tuesday, July 19th. Cowen and Company reiterated an “outperform” rating on shares of Exelixis in a research report on Tuesday, June 7th. Finally, Stifel Nicolaus increased their target price on Exelixis from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Tuesday, April 26th. Five equities research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average target price of $8.17.

The company’s market capitalization is $2.02 billion. The stock has a 50 day moving average price of $7.97 and a 200 day moving average price of $5.45.

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

In other Exelixis news, Director Lance Willsey acquired 60,000 shares of the business’s stock in a transaction dated Wednesday, May 11th. The stock was acquired at an average cost of $4.97 per share, for a total transaction of $298,200.00. Following the completion of the transaction, the director now directly owns 548,273 shares of the company’s stock, valued at $2,724,916.81. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

An institutional investor recently raised its position in Exelixis stock. ProShare Advisors LLC raised its position in shares of Exelixis Inc. (NASDAQ:EXEL) by 11.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. 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 about 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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