Several other research firms also recently weighed in on EXAS. Robert W. Baird downgraded shares of EXACT Sciences from an outperform rating to a neutral rating and set a $56.00 price target for the company. in a research note on Monday, November 13th. Bank of America boosted their price target on shares of EXACT Sciences from $58.00 to $67.00 and gave the stock a buy rating in a research note on Wednesday, November 29th. Zacks Investment Research downgraded shares of EXACT Sciences from a buy rating to a hold rating in a research note on Thursday, November 2nd. BTIG Research downgraded shares of EXACT Sciences from a buy rating to a neutral rating in a research note on Wednesday, November 1st. Finally, BidaskClub raised shares of EXACT Sciences from a hold rating to a buy rating in a research note on Thursday, December 21st. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $52.84.
EXACT Sciences (EXAS) traded down $2.62 during trading on Friday, reaching $42.37. 11,391,832 shares of the company’s stock traded hands, compared to its average volume of 3,140,000. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.34 and a quick ratio of 9.98. The company has a market capitalization of $4,780.00, a P/E ratio of -20.77 and a beta of 0.58. EXACT Sciences has a 1-year low of $19.91 and a 1-year high of $63.60.
EXACT Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Thursday, February 22nd. The medical research company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.09. The business had revenue of $87.41 million during the quarter, compared to the consensus estimate of $87.42 million. EXACT Sciences had a negative net margin of 43.01% and a negative return on equity of 24.94%. The firm’s revenue for the quarter was up 148.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.34) earnings per share. analysts predict that EXACT Sciences will post -0.69 earnings per share for the current year.
In other EXACT Sciences news, SVP D Scott Coward sold 1,665 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $52.54, for a total value of $87,479.10. Following the transaction, the senior vice president now owns 37,558 shares in the company, valued at $1,973,297.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kevin T. Conroy sold 121,849 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $53.45, for a total transaction of $6,512,829.05. Following the completion of the transaction, the insider now owns 951,901 shares in the company, valued at approximately $50,879,108.45. The disclosure for this sale can be found here. Insiders sold 630,125 shares of company stock worth $32,597,655 in the last 90 days. Corporate insiders own 4.00% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB purchased a new position in shares of EXACT Sciences during the fourth quarter valued at about $606,000. Probabilities Fund Management LLC purchased a new position in shares of EXACT Sciences during the fourth quarter valued at about $210,000. Salem Investment Counselors Inc. increased its position in shares of EXACT Sciences by 548.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 6,480 shares of the medical research company’s stock valued at $340,000 after buying an additional 5,480 shares during the period. Doheny Asset Management CA purchased a new position in shares of EXACT Sciences during the fourth quarter valued at about $2,345,000. Finally, MetLife Investment Advisors LLC purchased a new position in shares of EXACT Sciences during the fourth quarter valued at about $2,855,000. Institutional investors own 84.88% of the company’s stock.
EXACT Sciences Company Profile
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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