Exact Sciences (NASDAQ:EXAS) issued its quarterly earnings results on Tuesday. The medical research company reported ($0.18) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.04) by $0.86, MarketWatch Earnings reports. The business had revenue of $402.10 million for the quarter, compared to analyst estimates of $394.66 million. Exact Sciences had a negative return on equity of 11.71% and a negative net margin of 25.27%. The company’s revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.71) earnings per share. Exact Sciences updated its FY 2021 guidance to – EPS.
NASDAQ EXAS traded down $9.51 during mid-day trading on Tuesday, reaching $116.02. 3,114,624 shares of the stock were exchanged, compared to its average volume of 1,648,428. The company has a market capitalization of $19.88 billion, a P/E ratio of -52.50 and a beta of 1.64. The company has a debt-to-equity ratio of 0.68, a quick ratio of 6.04 and a current ratio of 6.35. The business’s 50 day moving average is $130.23 and its 200-day moving average is $131.31. Exact Sciences has a 1 year low of $70.75 and a 1 year high of $159.54.
In other Exact Sciences news, insider Graham Peter Lidgard sold 11,735 shares of the firm’s stock in a transaction that occurred on Friday, March 5th. The stock was sold at an average price of $121.33, for a total value of $1,423,807.55. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Sarah Condella sold 2,057 shares of the business’s stock in a transaction that occurred on Wednesday, February 24th. The shares were sold at an average price of $136.30, for a total value of $280,369.10. Following the completion of the sale, the senior vice president now owns 73,004 shares of the company’s stock, valued at $9,950,445.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,428 shares of company stock worth $8,114,785. 1.80% of the stock is owned by company insiders.
EXAS has been the topic of several research analyst reports. TheStreet downgraded shares of Exact Sciences from a “c” rating to a “d+” rating in a research report on Wednesday, February 24th. Stifel Nicolaus upped their target price on Exact Sciences from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, February 17th. SVB Leerink lifted their price target on Exact Sciences from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 17th. Zacks Investment Research raised Exact Sciences from a “strong sell” rating to a “hold” rating and set a $134.00 price objective on the stock in a report on Tuesday, April 20th. Finally, Truist initiated coverage on Exact Sciences in a report on Wednesday, January 27th. They set a “buy” rating and a $226.00 target price for the company. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $149.31.
Exact Sciences Company Profile
Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX, a gene expression tests for breast, prostate, and colon cancers; Oncotype MAP, a tissue test delivering tumor profiling to aid therapy selection for patients with advanced, metastatic, refractory, or recurrent cancer; Oncotype DX AR-V7 Nucleus Detect Test, a liquid-based test for advanced stage prostate cancer; and Covid-19 testing services.
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