EXACT Sciences (EXAS) Stock Rating Upgraded by BidaskClub

EXACT Sciences (NASDAQ:EXAS) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Friday.

EXAS has been the topic of several other research reports. Zacks Investment Research raised shares of EXACT Sciences from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research note on Tuesday, January 16th. Leerink Swann set a $67.00 price objective on shares of EXACT Sciences and gave the company a “buy” rating in a research note on Wednesday, March 28th. Bank of America set a $67.00 price objective on shares of EXACT Sciences and gave the company a “buy” rating in a research note on Monday, January 8th. William Blair reissued a “buy” rating on shares of EXACT Sciences in a research note on Tuesday, January 2nd. Finally, Robert W. Baird raised shares of EXACT Sciences from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $42.56 to $56.00 in a research note on Tuesday, February 27th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $52.84.

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Shares of EXAS opened at $47.52 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.77 and a current ratio of 7.15. EXACT Sciences has a 1 year low of $23.60 and a 1 year high of $63.60.

EXACT Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Thursday, February 22nd. The medical research company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.09. The business had revenue of $87.41 million for the quarter, compared to the consensus estimate of $87.42 million. EXACT Sciences had a negative net margin of 43.01% and a negative return on equity of 24.13%. The company’s quarterly revenue was up 148.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.34) earnings per share. equities research analysts forecast that EXACT Sciences will post -0.92 earnings per share for the current fiscal year.

In related news, insider Kevin T. Conroy sold 110,439 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $50.49, for a total transaction of $5,576,065.11. Following the completion of the transaction, the insider now owns 940,491 shares of the company’s stock, valued at $47,485,390.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas D. Carey sold 8,448 shares of the company’s stock in a transaction that occurred on Tuesday, April 10th. The stock was sold at an average price of $39.73, for a total transaction of $335,639.04. Following the transaction, the director now directly owns 52,610 shares of the company’s stock, valued at approximately $2,090,195.30. The disclosure for this sale can be found here. Insiders have sold 340,273 shares of company stock valued at $15,917,431 in the last ninety days. 4.00% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of EXACT Sciences by 1.7% in the fourth quarter. BlackRock Inc. now owns 7,658,145 shares of the medical research company’s stock worth $402,358,000 after acquiring an additional 126,513 shares in the last quarter. Carillon Tower Advisers Inc. acquired a new stake in shares of EXACT Sciences in the fourth quarter worth $66,280,000. Victory Capital Management Inc. increased its position in shares of EXACT Sciences by 82.9% in the fourth quarter. Victory Capital Management Inc. now owns 1,189,560 shares of the medical research company’s stock worth $62,499,000 after acquiring an additional 539,160 shares in the last quarter. Geode Capital Management LLC increased its position in shares of EXACT Sciences by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 1,098,640 shares of the medical research company’s stock worth $57,722,000 after acquiring an additional 24,614 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of EXACT Sciences by 5.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 765,522 shares of the medical research company’s stock worth $40,221,000 after acquiring an additional 41,784 shares in the last quarter. 82.02% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for EXACT Sciences (NASDAQ:EXAS)

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