Exact Sciences Corporation (EXAS) Price Target Raised to $58.00 at Bank of America Corporation

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.

ILLEGAL ACTIVITY NOTICE: This piece of content was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece of content on another site, it was copied illegally and reposted in violation of United States and international copyright law. The correct version of this piece of content can be read at https://ledgergazette.com/2017/11/13/bank-of-america-corporation-raises-exact-sciences-corporation-exas-price-target-to-58-00.html.

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.

Analyst Recommendations for Exact Sciences Corporation (NASDAQ:EXAS)

Receive News & Ratings for Exact Sciences Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exact Sciences Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply