EXACT Sciences Co. (EXAS) Receives Average Rating of “Buy” from Analysts

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EXACT Sciences Co. (NASDAQ:EXAS) has been given a consensus rating of “Buy” by the fourteen analysts that are covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $85.78.

A number of equities research analysts have issued reports on EXAS shares. BidaskClub lowered EXACT Sciences from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. Canaccord Genuity increased their price target on EXACT Sciences from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, June 15th. BTIG Research increased their price target on EXACT Sciences from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, May 30th. Bank of America raised their target price on EXACT Sciences from $67.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, July 23rd. Finally, Craig Hallum cut their target price on EXACT Sciences from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, August 2nd.

EXAS stock traded up $0.52 during mid-day trading on Friday, reaching $75.51. The company had a trading volume of 13,700 shares, compared to its average volume of 2,167,203. The company has a debt-to-equity ratio of 0.87, a current ratio of 15.79 and a quick ratio of 15.37. The firm has a market capitalization of $9.10 billion, a P/E ratio of -75.75 and a beta of 0.96. EXACT Sciences has a fifty-two week low of $37.36 and a fifty-two week high of $80.35.

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. The company had revenue of $102.89 million for the quarter, compared to analyst estimates of $104.40 million. EXACT Sciences had a negative return on equity of 20.10% and a negative net margin of 35.24%. EXACT Sciences’s revenue for the quarter was up 78.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.27) EPS. analysts expect that EXACT Sciences will post -1.41 EPS for the current year.

In other news, SVP D Scott Coward sold 2,135 shares of the firm’s stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $59.10, for a total transaction of $126,178.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael S. Wyzga sold 2,468 shares of the firm’s stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $74.85, for a total value of $184,729.80. Following the sale, the director now directly owns 9,112 shares in the company, valued at approximately $682,033.20. 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 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. OppenheimerFunds Inc. increased its position in 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 buying an additional 2,910,506 shares during the period. Artisan Partners Limited Partnership acquired a new position in EXACT Sciences during the first quarter worth approximately $60,243,000. KAMES CAPITAL plc acquired a new position in EXACT Sciences during the second quarter worth approximately $46,879,000. Atlantic Trust Group LLC increased its position in 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 buying an additional 506,404 shares during the period. Finally, CIBC Private Wealth Group LLC increased its position in EXACT Sciences by 76.9% during the second quarter. CIBC Private Wealth Group LLC now owns 1,107,136 shares of the medical research company’s stock worth $66,196,000 after buying an additional 481,230 shares during the period. 86.40% 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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Analyst Recommendations for EXACT Sciences (NASDAQ:EXAS)

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