Exelixis Inc. (NASDAQ:EXEL)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $12.20 and last traded at $12.20, with a volume of 4,307,416 shares. The stock had previously closed at $11.54.

Several equities analysts have recently issued reports on EXEL shares. Stifel Nicolaus boosted their price objective on Exelixis from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Leerink Swann reiterated a “buy” rating and set a $10.00 price objective on shares of Exelixis in a research report on Tuesday, July 19th. Cowen and Company reiterated a “buy” rating on shares of Exelixis in a research report on Tuesday, May 24th. Finally, Piper Jaffray Cos. reiterated a “neutral” rating and set a $8.00 price objective (up from $5.00) on shares of Exelixis in a research report on Thursday, August 4th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Exelixis presently has a consensus rating of “Buy” and an average price target of $9.63.

The firm has a 50-day moving average price of $10.13 and a 200-day moving average price of $6.62. The company’s market cap is $2.81 billion.

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, topping analysts’ consensus estimates of ($0.27) by $0.11. During the same period in the prior year, the business earned ($0.22) earnings per share. The firm had revenue of $36.25 million for the quarter, compared to the consensus estimate of $16.76 million. The company’s revenue for the quarter was up 353.7% compared to the same quarter last year. On average, analysts predict that Exelixis Inc. will post ($0.71) EPS for the current fiscal year.

In other news, insider Gisela Schwab sold 42,338 shares of Exelixis stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $11.00, for a total transaction of $465,718.00. Following the transaction, the insider now directly owns 174,354 shares of the company’s stock, valued at $1,917,894. The sale was disclosed in a legal filing with the SEC, which is available at 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.

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.