Zacks Investment Research upgraded shares of EXACT Sciences (NASDAQ:EXAS) from a sell rating to a hold rating in a research report report published on Tuesday morning.
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. “
Several other research analysts have also weighed in on EXAS. Jefferies Financial Group lowered their price target on EXACT Sciences from $60.00 to $57.00 and set a buy rating on the stock in a research report on Thursday, August 2nd. UBS Group set a $100.00 price target on EXACT Sciences and gave the stock a buy rating in a research report on Tuesday. Leerink Swann reaffirmed an outperform rating and set a $76.00 price target (up previously from $67.00) on shares of EXACT Sciences in a research report on Wednesday, July 18th. BidaskClub lowered EXACT Sciences from a buy rating to a hold rating in a research report on Thursday, July 26th. Finally, Canaccord Genuity reaffirmed a buy rating and set a $62.00 price target on shares of EXACT Sciences in a research report on Friday, August 3rd. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. EXACT Sciences presently has an average rating of Buy and a consensus price target of $84.08.
NASDAQ EXAS traded up $0.70 during trading on Tuesday, hitting $74.02. The stock had a trading volume of 1,123,337 shares, compared to its average volume of 1,960,067. The stock has a market capitalization of $7.91 billion, a price-to-earnings ratio of -74.76 and a beta of 0.98. The company has a debt-to-equity ratio of 0.87, a quick ratio of 15.37 and a current ratio of 15.79. EXACT Sciences has a 12 month low of $37.36 and a 12 month high of $81.22.
EXACT Sciences (NASDAQ:EXAS) last released its earnings results on Tuesday, October 30th. The medical research company reported ($0.37) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.05. The firm had revenue of $118.29 million for the quarter, compared to analysts’ expectations of $109.33 million. EXACT Sciences had a negative return on equity of 20.69% and a negative net margin of 35.83%. The business’s quarterly revenue was up 63.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.23) EPS. On average, equities research analysts forecast that EXACT Sciences will post -1.45 EPS for the current year.
In related news, insider D Scott Coward sold 2,190 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $79.51, for a total transaction of $174,126.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Graham Peter Lidgard sold 58,000 shares of the business’s stock in a transaction that occurred on Monday, October 8th. The stock was sold at an average price of $69.36, for a total value of $4,022,880.00. Following the transaction, the insider now directly owns 204,684 shares in the company, valued at $14,196,882.24. The disclosure for this sale can be found here. Insiders have sold a total of 62,658 shares of company stock worth $4,381,737 over the last three months. 3.20% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Private Advisor Group LLC acquired a new position in shares of EXACT Sciences during the 3rd quarter worth approximately $699,000. Chicago Equity Partners LLC grew its holdings in EXACT Sciences by 11.3% in the 3rd quarter. Chicago Equity Partners LLC now owns 63,120 shares of the medical research company’s stock valued at $4,981,000 after buying an additional 6,390 shares in the last quarter. Sterling Capital Management LLC grew its holdings in EXACT Sciences by 15.9% in the 3rd quarter. Sterling Capital Management LLC now owns 50,649 shares of the medical research company’s stock valued at $3,997,000 after buying an additional 6,949 shares in the last quarter. Moody National Bank Trust Division grew its holdings in EXACT Sciences by 1,123.6% in the 3rd quarter. Moody National Bank Trust Division now owns 167,020 shares of the medical research company’s stock valued at $13,181,000 after buying an additional 153,370 shares in the last quarter. Finally, Frontier Capital Management Co. LLC grew its holdings in EXACT Sciences by 37.7% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,585,851 shares of the medical research company’s stock valued at $125,155,000 after buying an additional 434,184 shares in the last quarter. 86.52% of the stock is currently owned by institutional investors and hedge funds.
EXACT Sciences Company Profile
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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