EXACT Sciences Co. (NASDAQ:EXAS) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 14,082,706 shares, an increase of 11.2% from the February 15th total of 12,660,709 shares. Based on an average daily volume of 3,649,545 shares, the short-interest ratio is presently 3.9 days. Currently, 14.8% of the company’s shares are short sold.
Several research analysts recently commented on the stock. William Blair reiterated a “buy” rating on shares of EXACT Sciences in a research note on Wednesday, January 10th. BidaskClub raised shares of EXACT Sciences from a “hold” rating to a “buy” rating in a research report on Thursday, March 8th. Leerink Swann set a $67.00 target price on shares of EXACT Sciences and gave the stock a “buy” rating in a research report on Friday, February 9th. Benchmark downgraded shares of EXACT Sciences from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, Goldman Sachs assumed coverage on shares of EXACT Sciences in a research report on Monday, January 29th. They set a “neutral” rating and a $51.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the stock. EXACT Sciences has an average rating of “Buy” and an average price target of $52.84.
In related news, insider Graham Peter Lidgard sold 6,125 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $50.94, for a total transaction of $312,007.50. Following the completion of the transaction, the insider now owns 200,074 shares in the company, valued at approximately $10,191,769.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Maneesh Arora sold 5,295 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $52.19, for a total transaction of $276,346.05. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 573,050 shares of company stock valued at $28,372,929. 4.00% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Chicago Equity Partners LLC purchased a new stake in EXACT Sciences during the third quarter worth $2,312,000. Columbus Circle Investors boosted its holdings in EXACT Sciences by 5.5% during the third quarter. Columbus Circle Investors now owns 133,398 shares of the medical research company’s stock worth $6,286,000 after buying an additional 6,965 shares in the last quarter. Emerald Advisers Inc. PA purchased a new stake in EXACT Sciences during the fourth quarter worth $21,813,000. Advisors Management Group Inc. ADV purchased a new stake in EXACT Sciences during the third quarter worth $317,000. Finally, Pacer Advisors Inc. purchased a new stake in EXACT Sciences during the third quarter worth $905,000. 82.05% of the stock is currently owned by institutional investors and hedge funds.
Shares of EXACT Sciences (EXAS) opened at $52.57 on Friday. The company has a current ratio of 7.15, a quick ratio of 6.77 and a debt-to-equity ratio of 0.01. EXACT Sciences has a twelve month low of $19.91 and a twelve month high of $63.60.
EXACT Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Thursday, February 22nd. The medical research company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.09. The business had revenue of $87.41 million for 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 24.13%. The business’s revenue for the quarter was up 148.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.34) EPS. research analysts forecast that EXACT Sciences will post -0.86 EPS for the current year.
TRADEMARK VIOLATION WARNING: This piece was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece on another publication, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark legislation. The original version of this piece can be viewed at https://ledgergazette.com/2018/03/18/short-interest-in-exact-sciences-co-exas-expands-by-11-2.html.
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.
Receive News & Ratings for EXACT Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EXACT Sciences and related companies with MarketBeat.com's FREE daily email newsletter.