EXACT Sciences Co. (EXAS) Given Consensus Rating of “Buy” by Brokerages

Shares of EXACT Sciences Co. (NASDAQ:EXAS) have been given a consensus recommendation of “Buy” by the eighteen analysts that are covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $50.97.

A number of brokerages have recently issued reports on EXAS. William Blair restated a “buy” rating on shares of EXACT Sciences in a research note on Wednesday. Jefferies Group increased their price objective on shares of EXACT Sciences to $60.00 and gave the company a “buy” rating in a research note on Tuesday, October 31st. Robert W. Baird increased their price objective on shares of EXACT Sciences from $49.00 to $56.00 and gave the company an “outperform” rating in a research note on Tuesday, October 31st. Benchmark restated a “buy” rating and issued a $60.00 price objective (up previously from $50.00) on shares of EXACT Sciences in a research note on Tuesday, October 31st. Finally, Bank of America increased their price objective on shares of EXACT Sciences from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, October 31st.

Shares of EXACT Sciences (NASDAQ EXAS) traded down $2.44 during trading on Tuesday, reaching $52.62. 6,362,398 shares of the company’s stock were exchanged, compared to its average volume of 2,130,000. 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 company has a market cap of $6,300.00, a P/E ratio of -45.76 and a beta of 0.68.

EXACT Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Monday, October 30th. The medical research company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $65.03 million. During the same period in the prior year, the firm earned ($0.36) EPS. The business’s revenue was up 158.4% on a year-over-year basis. analysts forecast that EXACT Sciences will post -1.09 earnings per share for the current year.

In related news, insider Graham Peter Lidgard sold 45,775 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $53.60, for a total transaction of $2,453,540.00. Following the completion of the sale, the insider now owns 272,819 shares in the company, valued at approximately $14,623,098.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kevin T. Conroy sold 134,057 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $59.50, for a total transaction of $7,976,391.50. The disclosure for this sale can be found here. Insiders have sold a total of 610,433 shares of company stock valued at $34,341,306 in the last quarter. 4.00% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in EXAS. Fred Alger Management Inc. acquired a new stake in shares of EXACT Sciences during the 2nd quarter worth about $84,177,000. Lord Abbett & CO. LLC increased 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 worth $83,357,000 after purchasing an additional 875,527 shares in the last quarter. Vanguard Group Inc. increased 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 worth $334,589,000 after purchasing an additional 700,051 shares in the last quarter. Green Valley Investors LLC acquired a new stake in shares of EXACT Sciences during the 2nd quarter worth about $20,892,000. Finally, FMR LLC increased 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 worth $81,997,000 after purchasing an additional 571,796 shares in the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

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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.

Analyst Recommendations for EXACT Sciences (NASDAQ:EXAS)

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