BidaskClub upgraded shares of EXACT Sciences (NASDAQ:EXAS) from a sell rating to a hold rating in a research note released on Friday.
EXAS has been the topic of several other reports. Cowen raised their price target on EXACT Sciences from $65.00 to $100.00 and gave the stock an outperform rating in a research report on Wednesday, September 5th. Goldman Sachs Group raised their price target on EXACT Sciences to $75.00 and gave the stock a neutral rating in a research report on Thursday, August 30th. Canaccord Genuity lifted their price objective on EXACT Sciences from $72.00 to $87.00 and gave the stock a buy rating in a research report on Wednesday, September 12th. Bank of America lifted their price objective on EXACT Sciences from $68.00 to $92.00 and gave the stock a buy rating in a research report on Thursday, September 6th. Finally, Zacks Investment Research lowered EXACT Sciences from a hold rating to a sell rating in a research report on Tuesday, October 23rd. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. EXACT Sciences has an average rating of Buy and an average price target of $84.08.
EXAS opened at $74.25 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 11.72 and a current ratio of 12.08. EXACT Sciences has a 1 year low of $37.36 and a 1 year high of $81.22. The company has a market cap of $9.12 billion, a P/E ratio of -75.00 and a beta of 1.21.
EXACT Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Tuesday, October 30th. The medical research company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.05. EXACT Sciences had a negative return on equity of 20.18% and a negative net margin of 35.83%. The business had revenue of $118.29 million for the quarter, compared to analyst estimates of $109.33 million. During the same period last year, the company earned ($0.23) EPS. EXACT Sciences’s revenue for the quarter was up 63.0% compared to the same quarter last year. Research analysts forecast that EXACT Sciences will post -1.53 earnings per share for the current fiscal year.
In other news, insider D Scott Coward sold 2,190 shares of EXACT Sciences stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $79.51, for a total value of $174,126.90. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Graham Peter Lidgard sold 79,673 shares of EXACT Sciences stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $71.73, for a total value of $5,714,944.29. Following the completion of the sale, the insider now owns 124,528 shares in the company, valued at $8,932,393.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 142,331 shares of company stock worth $10,096,681. Corporate insiders own 3.20% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in EXAS. KAMES CAPITAL plc purchased a new position in shares of EXACT Sciences in the 2nd quarter valued at approximately $46,879,000. First Trust Advisors LP lifted its stake in shares of EXACT Sciences by 6,220.7% in the 3rd quarter. First Trust Advisors LP now owns 524,744 shares of the medical research company’s stock valued at $41,413,000 after purchasing an additional 516,442 shares during the period. CIBC Private Wealth Group LLC lifted its stake in shares of EXACT Sciences by 76.9% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 1,107,136 shares of the medical research company’s stock valued at $66,196,000 after purchasing an additional 481,230 shares during the period. Frontier Capital Management Co. LLC lifted its stake in shares of 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 purchasing an additional 434,184 shares during the period. Finally, Artisan Partners Limited Partnership lifted its stake in shares of EXACT Sciences by 25.8% in the 2nd quarter. Artisan Partners Limited Partnership now owns 1,879,525 shares of the medical research company’s stock valued at $112,377,000 after purchasing an additional 385,766 shares during the period. Institutional investors own 87.06% of the company’s stock.
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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