Wall Street analysts forecast that EXACT Sciences Co. (NASDAQ:EXAS) will post ($0.32) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for EXACT Sciences’ earnings. The lowest EPS estimate is ($0.38) and the highest is ($0.27). EXACT Sciences reported earnings of ($0.27) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 18.5%. The business is scheduled to report its next quarterly earnings report on Tuesday, July 24th.
On average, analysts expect that EXACT Sciences will report full-year earnings of ($1.11) per share for the current fiscal year, with EPS estimates ranging from ($1.38) to ($0.89). For the next fiscal year, analysts anticipate that the firm will post earnings of ($0.28) per share, with EPS estimates ranging from ($0.71) to $0.25. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow EXACT Sciences.
EXACT Sciences (NASDAQ:EXAS) last issued its earnings results on Thursday, April 26th. The medical research company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.05. The company had revenue of $90.30 million for the quarter, compared to analyst estimates of $86.31 million. EXACT Sciences had a negative net margin of 38.61% and a negative return on equity of 20.92%. The business’s revenue was up 86.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.32) EPS.
Several brokerages have commented on EXAS. BidaskClub upgraded shares of EXACT Sciences from a “hold” rating to a “buy” rating in a research report on Thursday, March 8th. BTIG Research restated a “buy” rating and set a $60.00 target price on shares of EXACT Sciences in a research report on Sunday, April 29th. 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 lowered shares of EXACT Sciences from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, Goldman Sachs Group began 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 analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. EXACT Sciences has an average rating of “Buy” and an average target price of $53.84.
In related news, COO Maneesh Arora sold 12,352 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $42.34, for a total value of $522,983.68. Following the sale, the chief operating officer now directly owns 644,621 shares in the company, valued at approximately $27,293,253.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Graham Peter Lidgard sold 39,884 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $43.10, for a total transaction of $1,719,000.40. The disclosure for this sale can be found here. Insiders sold a total of 135,748 shares of company stock worth $6,082,759 over the last quarter. Insiders own 4.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates boosted its position in shares of EXACT Sciences by 1.2% in the 4th quarter. Raymond James & Associates now owns 98,777 shares of the medical research company’s stock worth $5,190,000 after buying an additional 1,168 shares in the last quarter. American International Group Inc. raised its stake in EXACT Sciences by 1.5% in the 4th quarter. American International Group Inc. now owns 79,238 shares of the medical research company’s stock valued at $4,163,000 after purchasing an additional 1,207 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in EXACT Sciences by 19.5% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,045 shares of the medical research company’s stock valued at $424,000 after purchasing an additional 1,315 shares during the last quarter. Sandy Spring Bank raised its stake in EXACT Sciences by 50.2% in the 1st quarter. Sandy Spring Bank now owns 4,672 shares of the medical research company’s stock valued at $188,000 after purchasing an additional 1,562 shares during the last quarter. Finally, M&T Bank Corp raised its stake in EXACT Sciences by 12.7% in the 1st quarter. M&T Bank Corp now owns 16,309 shares of the medical research company’s stock valued at $658,000 after purchasing an additional 1,839 shares during the last quarter. Institutional investors and hedge funds own 88.72% of the company’s stock.
Shares of EXACT Sciences opened at $52.85 on Tuesday, according to Marketbeat. The firm has a market cap of $6.26 billion, a price-to-earnings ratio of -53.38 and a beta of 0.86. EXACT Sciences has a one year low of $31.04 and a one year high of $63.60. The company has a debt-to-equity ratio of 0.71, a quick ratio of 14.86 and a current ratio of 15.30.
EXACT Sciences Company Profile
Exact Sciences Corporation, a molecular diagnostics company, focuses on developing products for the early detection and prevention of various cancers in the United States. The company offers Cologuard, a non-invasive stool-based DNA screening test for the early detection of colorectal cancer and pre-cancer.
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