Shares of EXACT Sciences Co. (NASDAQ:EXAS) fell 5.5% during trading on Wednesday . The stock traded as low as $60.35 and last traded at $60.44. 2,154,663 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 2,719,760 shares. The stock had previously closed at $63.99.
Several brokerages recently commented on EXAS. BidaskClub raised EXACT Sciences from a “hold” rating to a “buy” rating in a research note on Thursday, March 8th. BTIG Research reaffirmed a “buy” rating and issued a $60.00 price target on shares of EXACT Sciences in a research note on Sunday, April 29th. Robert W. Baird boosted their price target on EXACT Sciences from $58.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, June 5th. Canaccord Genuity boosted their price target on EXACT Sciences from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, June 6th. Finally, Cowen boosted their price target on EXACT Sciences from $65.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, June 18th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $61.05.
The company has a quick ratio of 14.86, a current ratio of 15.30 and a debt-to-equity ratio of 0.71. The stock has a market cap of $7.79 billion, a PE ratio of -61.05 and a beta of 0.86.
EXACT Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Thursday, April 26th. The medical research company reported ($0.33) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.38) by $0.05. EXACT Sciences had a negative return on equity of 20.92% and a negative net margin of 38.61%. The firm had revenue of $90.30 million during the quarter, compared to the consensus estimate of $86.31 million. During the same quarter in the previous year, the company posted ($0.32) EPS. The business’s revenue for the quarter was up 86.7% compared to the same quarter last year. equities analysts expect that EXACT Sciences Co. will post -1.18 earnings per share for the current year.
In other news, SVP D Scott Coward sold 2,122 shares of the business’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $40.12, for a total transaction of $85,134.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas D. Carey sold 8,448 shares of the business’s stock in a transaction on Tuesday, April 10th. The stock was sold at an average price of $39.73, for a total value of $335,639.04. Following the sale, the director now owns 52,610 shares of the company’s stock, valued at approximately $2,090,195.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,204 shares of company stock valued at $1,127,639. Corporate insiders own 3.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in EXAS. OppenheimerFunds Inc. raised its position in shares of EXACT Sciences by 99.6% during the first quarter. OppenheimerFunds Inc. now owns 5,831,347 shares of the medical research company’s stock worth $235,179,000 after acquiring an additional 2,910,506 shares during the last quarter. Artisan Partners Limited Partnership bought a new stake in shares of EXACT Sciences during the first quarter worth $60,243,000. Victory Capital Management Inc. raised its position in shares of EXACT Sciences by 43.7% during the first quarter. Victory Capital Management Inc. now owns 1,709,505 shares of the medical research company’s stock worth $68,945,000 after acquiring an additional 519,945 shares during the last quarter. Atlantic Trust Group LLC raised its position in shares of EXACT Sciences by 423.8% during the first quarter. Atlantic Trust Group LLC now owns 625,906 shares of the medical research company’s stock worth $25,244,000 after acquiring an additional 506,404 shares during the last quarter. Finally, Elk Creek Partners LLC raised its position in shares of EXACT Sciences by 66.5% during the first quarter. Elk Creek Partners LLC now owns 962,731 shares of the medical research company’s stock worth $38,827,000 after acquiring an additional 384,481 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.
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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