Shares of EXACT Sciences Co. (NASDAQ:EXAS) have been assigned an average rating of “Buy” from the sixteen research firms that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $88.20.
EXAS has been the subject of several analyst reports. BidaskClub raised shares of EXACT Sciences from a “hold” rating to a “buy” rating in a research note on Friday, August 31st. Canaccord Genuity reissued a “buy” rating and issued a $65.00 price objective (up previously from $62.00) on shares of EXACT Sciences in a research note on Monday, August 13th. Craig Hallum raised their price objective on shares of EXACT Sciences from $54.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, August 23rd. Jefferies Financial Group reissued a “buy” rating and issued a $74.00 price objective on shares of EXACT Sciences in a research note on Thursday, August 23rd. Finally, BTIG Research raised their price objective on shares of EXACT Sciences to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, August 22nd.
Shares of NASDAQ:EXAS traded down $3.22 during trading on Friday, reaching $71.70. The company’s stock had a trading volume of 1,386,682 shares, compared to its average volume of 2,387,239. The company has a current ratio of 12.08, a quick ratio of 11.72 and a debt-to-equity ratio of 0.94. EXACT Sciences has a 12 month low of $37.36 and a 12 month high of $82.85. The company has a market cap of $9.33 billion, a price-to-earnings ratio of -72.42 and a beta of 1.20.
EXACT Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Tuesday, October 30th. The medical research company reported ($0.37) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.05. EXACT Sciences had a negative net margin of 35.83% and a negative return on equity of 20.18%. The firm had revenue of $118.29 million during the quarter, compared to the consensus estimate of $109.33 million. During the same quarter last year, the firm earned ($0.23) EPS. The firm’s revenue for the quarter was up 63.0% compared to the same quarter last year. As a group, equities analysts forecast that EXACT Sciences will post -1.5 EPS for the current year.
In other news, insider D Scott Coward sold 2,190 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $79.51, for a total transaction of $174,126.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Graham Peter Lidgard sold 58,000 shares of the firm’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 transaction 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. In the last three months, insiders sold 386,968 shares of company stock valued at $27,418,499. 3.20% of the stock is owned by insiders.
Several large investors have recently modified their holdings of EXAS. Cornerstone Wealth Management LLC purchased a new position in shares of EXACT Sciences during the second quarter worth approximately $182,000. Chicago Partners Investment Group LLC increased its position in shares of EXACT Sciences by 47.6% during the third quarter. Chicago Partners Investment Group LLC now owns 3,100 shares of the medical research company’s stock worth $191,000 after acquiring an additional 1,000 shares during the period. Hartford Investment Management Co. purchased a new position in shares of EXACT Sciences during the second quarter worth approximately $202,000. First Republic Investment Management Inc. purchased a new position in shares of EXACT Sciences during the third quarter worth approximately $204,000. Finally, Fulton Bank N.A. purchased a new position in shares of EXACT Sciences during the third quarter worth approximately $208,000. 92.25% of the stock is currently owned by institutional investors and hedge funds.
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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