BidaskClub lowered shares of EXACT Sciences (NASDAQ:EXAS) from a buy rating to a hold rating in a research note released on Friday, September 14th.
A number of other equities research analysts have also recently commented on EXAS. BTIG Research increased their price target on shares of EXACT Sciences from $60.00 to $70.00 and gave the company a buy rating in a report on Wednesday, May 30th. Canaccord Genuity reiterated a buy rating and set a $68.00 price target (up previously from $60.00) on shares of EXACT Sciences in a report on Thursday, May 31st. Zacks Investment Research upgraded shares of EXACT Sciences from a sell rating to a hold rating in a report on Monday, June 4th. Robert W. Baird increased their price target on shares of EXACT Sciences from $58.00 to $66.00 and gave the company an outperform rating in a report on Tuesday, June 5th. Finally, Cowen raised their target price on shares of EXACT Sciences from $65.00 to $85.00 and gave the stock an outperform rating in a report on Monday, June 18th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $81.73.
Shares of NASDAQ:EXAS traded down $1.33 during trading on Friday, reaching $71.12. 2,073,461 shares of the stock traded hands, compared to its average volume of 2,509,488. EXACT Sciences has a 52-week low of $37.36 and a 52-week high of $81.22. The company has a quick ratio of 15.37, a current ratio of 15.79 and a debt-to-equity ratio of 0.87. The stock has a market cap of $9.69 billion, a price-to-earnings ratio of -71.84 and a beta of 0.98.
EXACT Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Wednesday, August 1st. The medical research company reported ($0.30) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.03. EXACT Sciences had a negative net margin of 35.24% and a negative return on equity of 20.10%. The firm had revenue of $102.89 million for the quarter, compared to analysts’ expectations of $104.40 million. During the same quarter in the prior year, the company posted ($0.27) earnings per share. The business’s revenue for the quarter was up 78.5% on a year-over-year basis. As a group, sell-side analysts anticipate that EXACT Sciences will post -1.41 earnings per share for the current year.
In related news, CFO Jeffrey Thomas Elliott sold 8,984 shares of the firm’s stock in a transaction that occurred on Monday, July 30th. The shares were sold at an average price of $57.78, for a total value of $519,095.52. Following the sale, the chief financial officer now owns 22,690 shares in the company, valued at $1,311,028.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas D. Carey sold 3,427 shares of the firm’s stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $58.86, for a total transaction of $201,713.22. Following the completion of the sale, the director now owns 48,983 shares in the company, valued at approximately $2,883,139.38. The disclosure for this sale can be found here. Insiders sold 17,069 shares of company stock worth $1,079,665 in the last 90 days. 3.20% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of EXAS. Quantbot Technologies LP purchased a new position in shares of EXACT Sciences during the 1st quarter worth $135,000. Cornerstone Wealth Management LLC purchased a new position in shares of EXACT Sciences during the 2nd quarter worth $182,000. Hartford Investment Management Co. purchased a new position in shares of EXACT Sciences during the 2nd quarter worth $202,000. Fulton Bank N.A. purchased a new position in shares of EXACT Sciences during the 3rd quarter worth $208,000. Finally, Alps Advisors Inc. purchased a new position in shares of EXACT Sciences during the 2nd quarter worth $210,000. Institutional investors and hedge funds own 86.39% of the company’s stock.
About EXACT Sciences
Exact Sciences Corporation, a molecular diagnostics company, focuses on developing products for the early detection and prevention of various cancers in the United States. The company offers Cologuard, a non-invasive stool-based DNA screening test for the early detection of colorectal cancer and pre-cancer.
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