Exact Sciences Corporation (NASDAQ:EXAS) had its price objective increased by equities research analysts at Bank of America Corporation from $56.00 to $58.00 in a research report issued to clients and investors on Tuesday, October 31st. The firm currently has a “buy” rating on the medical research company’s stock. Bank of America Corporation’s target price would indicate a potential downside of 3.93% from the stock’s current price.
A number of other equities analysts also recently issued reports on the company. Canaccord Genuity upgraded Exact Sciences Corporation to a “buy” rating and set a $60.00 price target on the stock in a research report on Tuesday, October 31st. Robert W. Baird increased their target price on Exact Sciences Corporation from $49.00 to $56.00 and gave the company an “outperform” rating in a report on Tuesday, October 31st. Craig Hallum raised their target price on Exact Sciences Corporation from $46.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Benchmark Co. reissued a “buy” rating and set a $60.00 target price (up previously from $50.00) on shares of Exact Sciences Corporation in a research note on Tuesday, October 31st. Finally, Leerink Swann restated an “outperform” rating and set a $63.00 price target (up from $50.00) on shares of Exact Sciences Corporation in a research report on Tuesday, October 31st. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $49.71.
Shares of Exact Sciences Corporation (NASDAQ EXAS) traded up $1.19 on Tuesday, hitting $60.37. The stock had a trading volume of 1,352,200 shares, compared to its average volume of 2,133,618. Exact Sciences Corporation has a 1 year low of $13.05 and a 1 year high of $63.60. 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 Corporation (NASDAQ:EXAS) last issued its quarterly earnings results on Monday, October 30th. The medical research company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.07. The company had revenue of $72.60 million for the quarter, compared to the consensus estimate of $65.03 million. Exact Sciences Corporation had a negative return on equity of 30.32% and a negative net margin of 60.71%. Exact Sciences Corporation’s revenue for the quarter was up 158.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.36) earnings per share. research analysts predict that Exact Sciences Corporation will post -1.14 EPS for the current fiscal year.
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In related news, insider Graham Peter Lidgard sold 45,775 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $53.60, for a total value of $2,453,540.00. Following the transaction, the insider now owns 272,819 shares in the company, valued at approximately $14,623,098.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP D Scott Coward sold 29,115 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $47.16, for a total value of $1,373,063.40. Following the completion of the transaction, the senior vice president now owns 64,991 shares in the company, valued at approximately $3,064,975.56. The disclosure for this sale can be found here. Insiders have sold 277,373 shares of company stock worth $12,635,570 in the last quarter. Insiders own 4.00% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN boosted its holdings in Exact Sciences Corporation by 13.4% in the 3rd quarter. Wells Fargo & Company MN now owns 564,217 shares of the medical research company’s stock valued at $26,586,000 after purchasing an additional 66,555 shares in the last quarter. Amalgamated Bank boosted its holdings in Exact Sciences Corporation by 6.0% in the 3rd quarter. Amalgamated Bank now owns 14,964 shares of the medical research company’s stock valued at $705,000 after purchasing an additional 845 shares in the last quarter. BKS Advisors LLC purchased a new stake in Exact Sciences Corporation in the 3rd quarter valued at approximately $212,000. Axiom International Investors LLC DE purchased a new stake in Exact Sciences Corporation in the 3rd quarter valued at approximately $5,051,000. Finally, Trexquant Investment LP boosted its holdings in Exact Sciences Corporation by 99.1% in the 3rd quarter. Trexquant Investment LP now owns 12,145 shares of the medical research company’s stock valued at $572,000 after purchasing an additional 6,045 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors.
About Exact Sciences Corporation
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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