Benchmark reiterated their hold rating on shares of EXACT Sciences (NASDAQ:EXAS) in a research report released on Wednesday, MarketBeat reports.
Several other research firms also recently weighed in on EXAS. BidaskClub upgraded EXACT Sciences from a hold rating to a buy rating in a research note on Friday, August 31st. Goldman Sachs Group upped their price target on EXACT Sciences to $75.00 and gave the stock a neutral rating in a research note on Thursday, August 30th. Jefferies Financial Group restated a buy rating and issued a $74.00 price target on shares of EXACT Sciences in a research note on Thursday, August 23rd. Cowen upped their price target on EXACT Sciences from $65.00 to $85.00 and gave the stock an outperform rating in a research note on Monday, June 18th. Finally, Craig Hallum upped their price target on EXACT Sciences from $54.00 to $74.00 and gave the stock a buy rating in a research note on Thursday, August 23rd. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $78.73.
EXAS stock opened at $77.22 on Wednesday. EXACT Sciences has a 1-year low of $37.36 and a 1-year high of $80.35. The company has a quick ratio of 15.37, a current ratio of 15.79 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $9.21 billion, a price-to-earnings ratio of -78.00 and a beta of 0.96.
EXACT Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Wednesday, August 1st. The medical research company reported ($0.30) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.03. EXACT Sciences had a negative return on equity of 20.10% and a negative net margin of 35.24%. The business had revenue of $102.89 million during the quarter, compared to the consensus estimate of $104.40 million. During the same period in the prior year, the company posted ($0.27) EPS. The firm’s revenue for the quarter was up 78.5% compared to the same quarter last year. sell-side analysts expect that EXACT Sciences will post -1.41 EPS for the current fiscal year.
In other news, CFO Jeffrey Thomas Elliott sold 8,984 shares of the company’s stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $57.78, for a total transaction of $519,095.52. Following the sale, the chief financial officer now directly owns 22,690 shares of the company’s stock, valued at approximately $1,311,028.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP D Scott Coward sold 2,135 shares of the company’s stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $59.10, for a total value of $126,178.50. The disclosure for this sale can be found here. Insiders have sold a total of 17,014 shares of company stock worth $1,031,717 over the last ninety days. Insiders own 3.20% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Asymmetry Capital Management L.P. raised its holdings in shares of EXACT Sciences by 229.2% during the 2nd quarter. Asymmetry Capital Management L.P. now owns 84,937 shares of the medical research company’s stock worth $5,078,000 after acquiring an additional 59,134 shares in the last quarter. Sit Investment Associates Inc. raised its holdings in EXACT Sciences by 24.3% during the 2nd quarter. Sit Investment Associates Inc. now owns 33,300 shares of the medical research company’s stock valued at $1,991,000 after buying an additional 6,500 shares during the period. Swiss National Bank raised its holdings in EXACT Sciences by 1.4% during the 2nd quarter. Swiss National Bank now owns 210,619 shares of the medical research company’s stock valued at $12,593,000 after buying an additional 3,000 shares during the period. Hartford Investment Management Co. purchased a new stake in EXACT Sciences during the 2nd quarter valued at $202,000. Finally, Gofen & Glossberg LLC IL purchased a new stake in EXACT Sciences during the 2nd quarter valued at $469,000. 86.35% of the stock is currently owned by institutional investors and hedge funds.
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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