EXACT Sciences (NASDAQ:EXAS) had its target price boosted by stock analysts at Cowen from $65.00 to $100.00 in a report issued on Wednesday, September 5th, The Fly reports. The brokerage currently has an “outperform” rating on the medical research company’s stock. Cowen’s price target indicates a potential upside of 31.11% from the stock’s current price.
A number of other research analysts also recently issued reports on EXAS. Bank of America raised their price target on EXACT Sciences from $67.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, July 23rd. BidaskClub downgraded EXACT Sciences from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 26th. Canaccord Genuity raised their price target on EXACT Sciences from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, June 15th. BTIG Research raised their price target on EXACT Sciences from $60.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, May 30th. Finally, Craig Hallum reduced their price target on EXACT Sciences from $60.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, August 2nd. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $81.73.
EXAS traded down $0.49 during mid-day trading on Wednesday, hitting $76.27. 815,978 shares of the stock were exchanged, compared to its average volume of 2,740,870. EXACT Sciences has a 1-year low of $37.36 and a 1-year high of $80.35. The company has a current ratio of 15.79, a quick ratio of 15.37 and a debt-to-equity ratio of 0.87. The firm has a market cap of $9.26 billion, a price-to-earnings ratio of -77.04 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 (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $102.89 million for the quarter, compared to analyst estimates of $104.40 million. During the same quarter last year, the company earned ($0.27) EPS. EXACT Sciences’s revenue for the quarter was up 78.5% compared to the same quarter last year. research analysts forecast that EXACT Sciences will post -1.41 earnings per share for the current year.
In other EXACT Sciences news, Director Michael S. Wyzga sold 2,468 shares of the business’s stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $74.85, for a total transaction of $184,729.80. Following the completion of the sale, the director now owns 9,112 shares of the company’s stock, valued at $682,033.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP D Scott Coward sold 2,135 shares of the business’s stock in a transaction dated Monday, July 2nd. The shares were 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. In the last ninety days, insiders sold 17,014 shares of company stock valued at $1,031,717. Company insiders own 3.20% of the company’s stock.
A number of hedge funds have recently bought and sold shares of EXAS. Quantbot Technologies LP acquired a new position in shares of EXACT Sciences in the first quarter worth about $135,000. Bronfman E.L. Rothschild L.P. lifted its stake in shares of EXACT Sciences by 160.8% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,464 shares of the medical research company’s stock worth $140,000 after acquiring an additional 2,136 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new stake in EXACT Sciences during the second quarter valued at approximately $182,000. Sandy Spring Bank raised its stake in EXACT Sciences by 50.2% during the first quarter. Sandy Spring Bank now owns 4,672 shares of the medical research company’s stock valued at $188,000 after buying an additional 1,562 shares in the last quarter. Finally, Hartford Investment Management Co. acquired a new stake in EXACT Sciences during the second quarter valued at approximately $202,000. 86.40% of the stock is owned by hedge funds and other institutional investors.
About EXACT Sciences
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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