EXACT Sciences (NASDAQ:EXAS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $62.00 target price on the medical research company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 17.83% from the stock’s current price.
According to Zacks, “EXACT Sciences Corporation uses applied genomics to develop effective, patient-friendly screening technologies for use in the detection of cancer. Certain of its technologies have been licensed to Laboratory Corporation of America Holdings for a stool-based DNA screening assay for colorectal cancer in the average-risk population. Colorectal cancer, which is the most deadly cancer among non-smokers, is generally curable if detected early. Despite the availability of colorectal cancer screening and diagnostic tests for more than twenty years, the rate of early detection of colorectal cancer remains low, and deaths from colorectal cancer remain high. EXACT Sciences believes its genomics-based technologies would help to enable detection of colorectal cancer so that more people can be effectively treated. “
EXAS has been the topic of several other reports. Robert W. Baird reaffirmed a “buy” rating and set a $49.00 target price on shares of EXACT Sciences in a research note on Friday, October 6th. Bank of America set a $56.00 target price on shares of EXACT Sciences and gave the stock a “buy” rating in a research note on Thursday, October 19th. Canaccord Genuity raised shares of EXACT Sciences to a “buy” rating and set a $60.00 target price on the stock in a research note on Tuesday, October 31st. Leerink Swann reissued an “outperform” rating and issued a $63.00 price objective (up from $50.00) on shares of EXACT Sciences in a research report on Tuesday, October 31st. Finally, BidaskClub downgraded shares of EXACT Sciences from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $51.31.
Shares of EXACT Sciences (EXAS) opened at $52.62 on Tuesday. EXACT Sciences has a 52 week low of $16.95 and a 52 week high of $63.60. The firm has a market cap of $6,300.00, a P/E ratio of -45.76 and a beta of 0.68. The company has a current ratio of 10.34, a quick ratio of 9.98 and a debt-to-equity ratio of 0.01.
EXACT Sciences (NASDAQ:EXAS) last announced its earnings results on Monday, October 30th. The medical research company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.07. EXACT Sciences had a negative net margin of 60.71% and a negative return on equity of 30.32%. The firm had revenue of $72.60 million for the quarter, compared to the consensus estimate of $65.03 million. During the same period in the prior year, the firm earned ($0.36) EPS. The firm’s revenue for the quarter was up 158.4% on a year-over-year basis. analysts predict that EXACT Sciences will post -1.09 earnings per share for the current year.
In related news, insider Kevin T. Conroy sold 123,512 shares of the stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $52.58, for a total value of $6,494,260.96. Following the transaction, the insider now directly owns 953,564 shares of the company’s stock, valued at approximately $50,138,395.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP D Scott Coward sold 1,665 shares of the stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $52.54, for a total transaction of $87,479.10. Following the completion of the transaction, the senior vice president now directly owns 37,558 shares in the company, valued at $1,973,297.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 610,433 shares of company stock worth $34,341,306. Insiders own 4.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisor Group Inc. grew its position in shares of EXACT Sciences by 0.8% in the 2nd quarter. Advisor Group Inc. now owns 7,866 shares of the medical research company’s stock valued at $270,000 after buying an additional 65 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in shares of EXACT Sciences by 5.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,640 shares of the medical research company’s stock valued at $341,000 after buying an additional 511 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of EXACT Sciences by 17.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,072 shares of the medical research company’s stock valued at $144,000 after buying an additional 600 shares during the last quarter. Amalgamated Bank grew its position in shares of EXACT Sciences by 6.0% in the 3rd quarter. Amalgamated Bank now owns 14,964 shares of the medical research company’s stock valued at $705,000 after buying an additional 845 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in shares of EXACT Sciences by 9.1% in the 2nd quarter. Prudential Financial Inc. now owns 12,159 shares of the medical research company’s stock valued at $430,000 after buying an additional 1,018 shares during the last quarter. 82.39% of the stock is currently owned by hedge funds and other institutional investors.
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EXACT Sciences Company Profile
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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