Wall Street brokerages expect EXACT Sciences Co. (NASDAQ:EXAS) to announce earnings of ($0.33) per share for the current quarter, Zacks reports. Five analysts have made estimates for EXACT Sciences’ earnings. The highest EPS estimate is ($0.27) and the lowest is ($0.38). EXACT Sciences reported earnings of ($0.27) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 22.2%. The business is scheduled to report its next quarterly earnings report on Tuesday, July 24th.
According to Zacks, analysts expect that EXACT Sciences will report full year earnings of ($1.18) per share for the current year, with EPS estimates ranging from ($1.38) to ($1.03). For the next financial year, analysts forecast that the company will post earnings of ($0.35) per share, with EPS estimates ranging from ($0.71) to $0.25. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover EXACT Sciences.
EXACT Sciences (NASDAQ:EXAS) last posted its earnings results on Thursday, April 26th. The medical research company reported ($0.33) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.38) by $0.05. The business had revenue of $90.30 million for the quarter, compared to analysts’ expectations of $86.31 million. EXACT Sciences had a negative net margin of 38.61% and a negative return on equity of 20.92%. The business’s revenue for the quarter was up 86.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.32) EPS.
EXAS has been the topic of several research analyst reports. Robert W. Baird upgraded shares of EXACT Sciences from a “neutral” rating to an “outperform” rating and upped their target price for the company from $42.56 to $56.00 in a research note on Tuesday, February 27th. Zacks Investment Research cut shares of EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Wednesday, February 28th. BidaskClub cut shares of EXACT Sciences from a “buy” rating to a “hold” rating in a research note on Thursday, March 1st. Leerink Swann set a $67.00 target price on shares of EXACT Sciences and gave the company a “buy” rating in a research note on Wednesday, March 28th. Finally, William Blair restated a “buy” rating on shares of EXACT Sciences in a research note on Thursday, March 29th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $61.05.
EXACT Sciences traded down $2.46, hitting $63.87, during midday trading on Monday, according to Marketbeat.com. 2,628,408 shares of the company traded hands, compared to its average volume of 2,728,286. The company has a debt-to-equity ratio of 0.71, a quick ratio of 14.86 and a current ratio of 15.30. The stock has a market capitalization of $8.09 billion, a P/E ratio of -64.52 and a beta of 0.86. EXACT Sciences has a 52 week low of $33.86 and a 52 week high of $71.60.
In other news, SVP D Scott Coward sold 2,122 shares of the stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $40.12, for a total value of $85,134.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Thomas D. Carey sold 8,448 shares of the 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 completion of the transaction, the director now owns 52,610 shares in the company, valued at approximately $2,090,195.30. The disclosure for this sale can be found here. Insiders sold a total of 25,204 shares of company stock worth $1,127,639 in the last quarter. Company insiders own 3.20% of the company’s stock.
Large investors have recently modified their holdings of the company. Advisory Services Network LLC lifted its stake in shares of EXACT Sciences by 6,600.0% in the 4th quarter. Advisory Services Network LLC now owns 3,350 shares of the medical research company’s stock worth $176,000 after purchasing an additional 3,300 shares during the period. Quantbot Technologies LP purchased a new stake in EXACT Sciences in the 1st quarter worth approximately $135,000. Bronfman E.L. Rothschild L.P. increased its holdings in EXACT Sciences by 160.8% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 3,464 shares of the medical research company’s stock worth $140,000 after acquiring an additional 2,136 shares in the last quarter. Probabilities Fund Management LLC purchased a new stake in EXACT Sciences in the 4th quarter worth approximately $210,000. Finally, Jefferies Group LLC purchased a new stake in EXACT Sciences in the 4th quarter worth approximately $230,000. Hedge funds and other institutional investors own 89.07% 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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