Shares of EXACT Sciences Co. (NASDAQ:EXAS) have received an average rating of “Buy” from the eighteen research firms that are presently covering the company, Marketbeat reports. Eight investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $50.97.
A number of brokerages recently commented on EXAS. Robert W. Baird lowered EXACT Sciences from an “outperform” rating to a “neutral” rating and set a $56.00 price objective for the company. in a research report on Monday, November 13th. Leerink Swann reiterated an “outperform” rating and issued a $67.00 price objective (up from $63.00) on shares of EXACT Sciences in a research report on Monday, November 13th. Bank of America lifted their price objective on EXACT Sciences from $58.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, November 29th. BTIG Research lowered EXACT Sciences from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 1st. Finally, Zacks Investment Research lowered EXACT Sciences from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd.
In other news, insider Kevin T. Conroy sold 123,512 shares of EXACT Sciences stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $52.58, for a total transaction of $6,494,260.96. Following the transaction, the insider now owns 953,564 shares in the company, valued at approximately $50,138,395.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP D Scott Coward sold 1,665 shares of EXACT Sciences stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $52.54, for a total value of $87,479.10. Following the transaction, the senior vice president now owns 37,558 shares in the company, valued at approximately $1,973,297.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 610,433 shares of company stock worth $34,341,306. Company insiders own 4.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of EXACT Sciences by 8.0% during the 2nd quarter. Vanguard Group Inc. now owns 9,459,679 shares of the medical research company’s stock valued at $334,589,000 after purchasing an additional 700,051 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of EXACT Sciences by 1.2% during the 2nd quarter. BlackRock Inc. now owns 6,884,886 shares of the medical research company’s stock valued at $243,518,000 after purchasing an additional 80,589 shares in the last quarter. Fred Alger Management Inc. bought a new position in shares of EXACT Sciences during the 2nd quarter valued at about $84,177,000. Lord Abbett & CO. LLC lifted its holdings in shares of EXACT Sciences by 59.1% during the 2nd quarter. Lord Abbett & CO. LLC now owns 2,356,706 shares of the medical research company’s stock valued at $83,357,000 after purchasing an additional 875,527 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of EXACT Sciences by 32.7% during the 2nd quarter. FMR LLC now owns 2,318,269 shares of the medical research company’s stock valued at $81,997,000 after purchasing an additional 571,796 shares in the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.
Shares of EXACT Sciences (NASDAQ:EXAS) traded down $2.44 during trading hours on Tuesday, hitting $52.62. The stock had a trading volume of 6,302,800 shares, compared to its average volume of 1,960,000. EXACT Sciences has a 52 week low of $16.95 and a 52 week high of $63.60. The firm has a market capitalization of $6,300.00, a price-to-earnings ratio of -45.76 and a beta of 0.68. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.98 and a current ratio of 10.34.
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, beating 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 company had revenue of $72.60 million during the quarter, compared to analyst estimates of $65.03 million. During the same period last year, the company posted ($0.36) earnings per share. The firm’s quarterly revenue was up 158.4% compared to the same quarter last year. analysts predict that EXACT Sciences will post -1.1 EPS for the current fiscal year.
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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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