Private Advisor Group LLC increased its stake in EXACT Sciences Co. (NASDAQ:EXAS) by 66.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,040 shares of the medical research company’s stock after purchasing an additional 5,200 shares during the quarter. Private Advisor Group LLC’s holdings in EXACT Sciences were worth $626,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. State of Wisconsin Investment Board bought a new position in EXACT Sciences in the 2nd quarter worth $3,006,000. Victory Capital Management Inc. bought a new position in EXACT Sciences in the 2nd quarter worth $29,450,000. Eagle Asset Management Inc. raised its holdings in EXACT Sciences by 19.6% in the 2nd quarter. Eagle Asset Management Inc. now owns 1,857,185 shares of the medical research company’s stock worth $65,688,000 after purchasing an additional 304,598 shares during the period. Chicago Equity Partners LLC bought a new position in EXACT Sciences in the 3rd quarter worth $2,312,000. Finally, Bank of Nova Scotia bought a new position in EXACT Sciences in the 2nd quarter worth $1,482,000. 82.39% of the stock is currently owned by institutional investors.
A number of equities analysts recently commented on the company. BidaskClub cut EXACT Sciences from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 6th. Benchmark reaffirmed a “buy” rating and issued a $60.00 target price (up from $50.00) on shares of EXACT Sciences in a report on Tuesday, October 31st. Leerink Swann reaffirmed an “outperform” rating and issued a $50.00 target price (up from $45.00) on shares of EXACT Sciences in a report on Thursday, September 21st. Bank of America raised their target price on EXACT Sciences from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, October 31st. Finally, Zacks Investment Research raised EXACT Sciences from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Tuesday, September 26th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $50.58.
Shares of EXACT Sciences Co. (NASDAQ:EXAS) opened at $53.83 on Monday. EXACT Sciences Co. has a 12 month low of $13.05 and a 12 month high of $63.60. The company has a quick ratio of 9.98, a current ratio of 10.34 and a debt-to-equity ratio of 0.01.
EXACT Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Monday, October 30th. The medical research company reported ($0.23) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.07. EXACT Sciences had a negative return on equity of 30.32% and a negative net margin of 60.71%. The business had revenue of $72.60 million during the quarter, compared to analyst estimates of $65.03 million. During the same quarter in the prior year, the business posted ($0.36) EPS. EXACT Sciences’s revenue for the quarter was up 158.4% compared to the same quarter last year. sell-side analysts predict that EXACT Sciences Co. will post -1.12 EPS for the current fiscal year.
In other news, insider Kevin T. Conroy sold 121,849 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $53.45, for a total transaction of $6,512,829.05. Following the completion of the transaction, the insider now owns 951,901 shares in the company, valued at $50,879,108.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP D Scott Coward sold 29,115 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $47.16, for a total value of $1,373,063.40. Following the transaction, the senior vice president now owns 64,991 shares of the company’s stock, valued at approximately $3,064,975.56. The disclosure for this sale can be found here. Insiders sold a total of 595,396 shares of company stock valued at $32,953,769 in the last quarter. 4.00% of the stock is currently owned by company insiders.
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About EXACT Sciences
Exact Sciences Corporation is a molecular diagnostics company. The Company focuses on the early detection and prevention of some forms of cancer. It offers a non-invasive screening test called Cologuard for the early detection of colorectal cancer and pre-cancer. Its Cologuard test is a stool-based deoxyribonucleic acid (sDNA) screening test, which utilizes a multi-target approach to detect deoxyribonucleic acid (DNA) and hemoglobin biomarkers associated with colorectal cancer and pre-cancer.
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