EXACT Sciences (NASDAQ:EXAS) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
A number of other equities research analysts have also recently weighed in on EXAS. Robert W. Baird lifted their price target on EXACT Sciences from $49.00 to $56.00 and gave the company an “outperform” rating in a report on Tuesday, October 31st. Jefferies Group lifted their price target on EXACT Sciences to $60.00 and gave the company a “buy” rating in a report on Tuesday, October 31st. Benchmark reaffirmed a “buy” rating and set a $60.00 price target (up previously from $50.00) on shares of EXACT Sciences in a report on Tuesday, October 31st. Canaccord Genuity reaffirmed a “buy” rating and set a $45.00 price target on shares of EXACT Sciences in a report on Thursday, September 7th. Finally, Bank of America lifted their price target on EXACT Sciences from $56.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, October 31st. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. EXACT Sciences currently has a consensus rating of “Hold” and a consensus target price of $50.58.
Shares of EXACT Sciences (NASDAQ EXAS) traded down $1.74 during midday trading on Tuesday, reaching $50.22. 4,434,927 shares of the company’s stock were exchanged, compared to its average volume of 2,469,065. 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 1 year low of $13.05 and a 1 year high of $63.60.
EXACT Sciences (NASDAQ:EXAS) last issued its earnings results on Monday, October 30th. The medical research company reported ($0.23) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.07. EXACT Sciences had a negative net margin of 60.71% and a negative return on equity of 30.32%. The firm had revenue of $72.60 million for the quarter, compared to analysts’ expectations of $65.03 million. During the same quarter last year, the company posted ($0.36) earnings per share. EXACT Sciences’s revenue was up 158.4% on a year-over-year basis. analysts anticipate that EXACT Sciences will post -1.12 EPS for the current fiscal year.
In related news, SVP D Scott Coward sold 29,115 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $47.16, for a total transaction of $1,373,063.40. Following the sale, the senior vice president now owns 64,991 shares of the company’s stock, valued at $3,064,975.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Graham Peter Lidgard sold 81,025 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $47.16, for a total value of $3,821,139.00. Following the sale, the insider now directly owns 366,519 shares in the company, valued at approximately $17,285,036.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 595,396 shares of company stock worth $32,953,769. 4.00% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in EXAS. Fred Alger Management Inc. bought a new stake in EXACT Sciences during the second quarter worth approximately $84,177,000. Lord Abbett & CO. LLC raised its holdings in EXACT Sciences by 59.1% during the second quarter. Lord Abbett & CO. LLC now owns 2,356,706 shares of the medical research company’s stock worth $83,357,000 after purchasing an additional 875,527 shares in the last quarter. Victory Capital Management Inc. bought a new stake in EXACT Sciences during the second quarter worth approximately $29,450,000. Vanguard Group Inc. raised its holdings in EXACT Sciences by 8.0% during the second quarter. Vanguard Group Inc. now owns 9,459,679 shares of the medical research company’s stock worth $334,589,000 after purchasing an additional 700,051 shares in the last quarter. Finally, Green Valley Investors LLC bought a new stake in EXACT Sciences during the second quarter worth approximately $20,892,000. 82.39% of the stock is currently owned by hedge funds and other institutional investors.
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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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