EXACT Sciences (NASDAQ:EXAS) has been assigned a $67.00 target price by analysts at Bank of America in a research note issued to investors on Monday. The brokerage presently has a “buy” rating on the medical research company’s stock. Bank of America’s target price indicates a potential upside of 27.69% from the stock’s previous close.
Several other equities research analysts have also recently issued reports on the company. Leerink Swann reiterated an “outperform” rating and issued a $67.00 price objective (up from $63.00) on shares of EXACT Sciences in a report on Monday, November 13th. Robert W. Baird cut EXACT Sciences from an “outperform” rating to a “neutral” rating and set a $56.00 price objective on the stock. in a report on Monday, November 13th. Canaccord Genuity reiterated a “buy” rating and issued a $60.00 price objective (up from $45.00) on shares of EXACT Sciences in a report on Tuesday, October 3rd. Jefferies Group lifted their price objective on EXACT Sciences to $60.00 and gave the stock a “buy” rating in a report on Tuesday, October 31st. Finally, BidaskClub cut EXACT Sciences from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $50.58.
EXACT Sciences (NASDAQ:EXAS) traded up $2.57 during mid-day trading on Monday, reaching $52.47. The company had a trading volume of 5,028,200 shares, compared to its average volume of 3,257,083. The company has a current ratio of 10.34, a quick ratio of 9.98 and a debt-to-equity ratio of 0.01. EXACT Sciences has a 12 month low of $16.95 and a 12 month high of $63.60. The firm has a market cap of $6,220.00, a PE ratio of -45.63 and a beta of 0.68.
EXACT Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Monday, October 30th. The medical research company reported ($0.23) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.07. EXACT Sciences had a negative return on equity of 30.32% and a negative net margin of 60.71%. The company had revenue of $72.60 million for the quarter, compared to analysts’ expectations of $65.03 million. During the same period in the previous year, the firm posted ($0.36) EPS. EXACT Sciences’s revenue was up 158.4% compared to the same quarter last year. equities research analysts anticipate that EXACT Sciences will post -1.1 earnings per share for the current fiscal year.
In other news, SVP D Scott Coward sold 1,665 shares of EXACT Sciences stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $52.54, for a total transaction of $87,479.10. Following the sale, the senior vice president now owns 37,558 shares of the company’s stock, valued at approximately $1,973,297.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Graham Peter Lidgard sold 45,770 shares of EXACT Sciences stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $58.27, for a total transaction of $2,667,017.90. Following the sale, the insider now directly owns 237,820 shares in the company, valued at approximately $13,857,771.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 610,433 shares of company stock worth $34,341,306. Insiders own 4.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of EXACT Sciences by 8.0% during the 2nd quarter. Vanguard Group Inc. now owns 9,459,679 shares of the medical research company’s stock valued at $334,589,000 after buying an additional 700,051 shares during the period. BlackRock Inc. raised its position in shares of EXACT Sciences by 1.2% during the 2nd quarter. BlackRock Inc. now owns 6,884,886 shares of the medical research company’s stock valued at $243,518,000 after buying an additional 80,589 shares during the period. Fred Alger Management Inc. purchased a new stake in shares of EXACT Sciences during the 2nd quarter valued at approximately $84,177,000. Lord Abbett & CO. LLC raised its position in shares of EXACT Sciences by 59.1% during the 2nd quarter. Lord Abbett & CO. LLC now owns 2,356,706 shares of the medical research company’s stock valued at $83,357,000 after buying an additional 875,527 shares during the period. Finally, FMR LLC raised its position in shares of EXACT Sciences by 32.7% during the 2nd quarter. FMR LLC now owns 2,318,269 shares of the medical research company’s stock valued at $81,997,000 after buying an additional 571,796 shares during the period. 82.39% of the stock is currently owned by hedge funds and other institutional investors.
About EXACT Sciences
Exact Sciences Corporation is a molecular diagnostics company. The Company focuses on the early detection and prevention of some forms of cancer. It offers a non-invasive screening test called Cologuard for the early detection of colorectal cancer and pre-cancer. Its Cologuard test is a stool-based deoxyribonucleic acid (sDNA) screening test, which utilizes a multi-target approach to detect deoxyribonucleic acid (DNA) and hemoglobin biomarkers associated with colorectal cancer and pre-cancer.
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