Wall Street brokerages forecast that EXACT Sciences Co. (NASDAQ:EXAS) will report earnings of ($0.56) per share for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for EXACT Sciences’ earnings. The lowest EPS estimate is ($0.60) and the highest is ($0.52). EXACT Sciences posted earnings of ($0.30) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 86.7%. The business is scheduled to announce its next quarterly earnings results on Wednesday, August 7th.
On average, analysts expect that EXACT Sciences will report full-year earnings of ($2.21) per share for the current year, with EPS estimates ranging from ($2.39) to ($2.06). For the next year, analysts expect that the business will post earnings of ($1.02) per share, with EPS estimates ranging from ($1.54) to ($0.49). Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for EXACT Sciences.
EXACT Sciences (NASDAQ:EXAS) last released its earnings results on Tuesday, April 30th. The medical research company reported ($0.66) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.65) by ($0.01). The business had revenue of $162.00 million during the quarter, compared to the consensus estimate of $153.07 million. EXACT Sciences had a negative net margin of 41.58% and a negative return on equity of 28.83%. The business’s revenue was up 79.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.33) EPS.
Several research firms have recently weighed in on EXAS. Zacks Investment Research upgraded EXACT Sciences from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. BidaskClub upgraded EXACT Sciences from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 16th. Craig Hallum restated a “buy” rating and set a $115.00 price target (up from $95.00) on shares of EXACT Sciences in a report on Wednesday, May 1st. UBS Group upped their target price on EXACT Sciences from $115.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, BTIG Research upped their target price on EXACT Sciences to $130.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $108.45.
In other EXACT Sciences news, insider Mark Stenhouse sold 11,192 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $92.54, for a total value of $1,035,707.68. Following the transaction, the insider now directly owns 25,500 shares of the company’s stock, valued at $2,359,770. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.20% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Allstate Corp lifted its stake in EXACT Sciences by 1.4% in the first quarter. Allstate Corp now owns 7,080 shares of the medical research company’s stock valued at $613,000 after buying an additional 97 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. raised its position in shares of EXACT Sciences by 2.4% during the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 4,250 shares of the medical research company’s stock worth $368,000 after purchasing an additional 100 shares during the period. Gofen & Glossberg LLC IL raised its position in shares of EXACT Sciences by 1.8% during the first quarter. Gofen & Glossberg LLC IL now owns 8,375 shares of the medical research company’s stock worth $725,000 after purchasing an additional 150 shares during the period. First Hawaiian Bank raised its position in shares of EXACT Sciences by 160.0% during the first quarter. First Hawaiian Bank now owns 325 shares of the medical research company’s stock worth $28,000 after purchasing an additional 200 shares during the period. Finally, CWM LLC raised its position in shares of EXACT Sciences by 35.3% during the first quarter. CWM LLC now owns 831 shares of the medical research company’s stock worth $72,000 after purchasing an additional 217 shares during the period. 86.27% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:EXAS traded down $2.32 during midday trading on Tuesday, hitting $111.45. 1,436,300 shares of the stock were exchanged, compared to its average volume of 1,788,674. The firm has a market cap of $14.61 billion, a PE ratio of -81.95 and a beta of 1.68. The company has a debt-to-equity ratio of 1.02, a current ratio of 8.39 and a quick ratio of 8.13. The business’s 50-day simple moving average is $103.41. EXACT Sciences has a 12 month low of $47.78 and a 12 month high of $117.98.
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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