EXACT Sciences’ (EXAS) Outperform Rating Reiterated at Cowen and Company

Cowen and Company reaffirmed their outperform rating on shares of EXACT Sciences Co. (NASDAQ:EXAS) in a research note issued to investors on Tuesday. They currently have a $30.00 price objective on the medical research company’s stock.

A number of other equities research analysts have also issued reports on EXAS. Zacks Investment Research raised shares of EXACT Sciences from a hold rating to a buy rating and set a $16.00 price target on the stock in a report on Tuesday, December 6th. Canaccord Genuity set a $24.00 target price on shares of EXACT Sciences and gave the stock a buy rating in a research report on Tuesday, December 13th. Robert W. Baird set a $22.00 target price on shares of EXACT Sciences and gave the stock a buy rating in a research report on Tuesday, December 20th. BTIG Research reaffirmed a buy rating and issued a $22.00 target price on shares of EXACT Sciences in a research report on Sunday, January 8th. Finally, Craig Hallum set a $26.00 price target on shares of EXACT Sciences and gave the company a buy rating in a research report on Tuesday, January 31st. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. EXACT Sciences presently has an average rating of Buy and an average target price of $23.00.

Shares of EXACT Sciences (NASDAQ:EXAS) traded down 1.63% on Tuesday, hitting $24.18. The stock had a trading volume of 1,154,428 shares. EXACT Sciences has a 12-month low of $5.36 and a 12-month high of $24.95. The firm’s market capitalization is $2.67 billion. The company has a 50 day moving average of $22.19 and a 200-day moving average of $18.42.

EXACT Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Tuesday, February 21st. The medical research company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.05. The business had revenue of $35.24 million for the quarter, compared to analyst estimates of $32.53 million. EXACT Sciences had a negative net margin of 216.45% and a negative return on equity of 55.44%. The company’s revenue was up 144.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.41) EPS. Equities analysts predict that EXACT Sciences will post ($1.47) EPS for the current fiscal year.

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In related news, COO Maneesh Arora sold 11,114 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $21.50, for a total transaction of $238,951.00. Following the sale, the chief operating officer now owns 535,940 shares of the company’s stock, valued at $11,522,710. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP D Scott Coward sold 7,046 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $21.48, for a total transaction of $151,348.08. Following the sale, the senior vice president now directly owns 53,794 shares in the company, valued at approximately $1,155,495.12. The disclosure for this sale can be found here. Insiders have sold 47,987 shares of company stock worth $1,028,453 in the last ninety days. Insiders own 5.60% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Columbus Circle Investors increased its stake in EXACT Sciences by 596.0% in the first quarter. Columbus Circle Investors now owns 184,742 shares of the medical research company’s stock worth $4,364,000 after buying an additional 158,197 shares during the last quarter. Teachers Advisors LLC boosted its position in EXACT Sciences by 2.0% in the fourth quarter. Teachers Advisors LLC now owns 175,264 shares of the medical research company’s stock worth $2,342,000 after buying an additional 3,452 shares during the period. Norges Bank purchased a new position in EXACT Sciences during the fourth quarter worth $25,200,000. AQR Capital Management LLC boosted its position in EXACT Sciences by 2.1% in the fourth quarter. AQR Capital Management LLC now owns 132,796 shares of the medical research company’s stock worth $1,774,000 after buying an additional 2,760 shares during the period. Finally, Guggenheim Capital LLC boosted its position in EXACT Sciences by 3.0% in the fourth quarter. Guggenheim Capital LLC now owns 172,585 shares of the medical research company’s stock worth $2,306,000 after buying an additional 5,029 shares during the period. 86.54% of the stock is currently owned by institutional investors.

EXACT Sciences Company Profile

Exact Sciences Corporation is a molecular diagnostics company. The Company focuses on the early detection and prevention of some forms of cancer. It offers a non-invasive screening test called Cologuard for the early detection of colorectal cancer and pre-cancer. Its Cologuard test is a stool-based deoxyribonucleic acid (sDNA) screening test, which utilizes a multi-target approach to detect deoxyribonucleic acid (DNA) and hemoglobin biomarkers associated with colorectal cancer and pre-cancer.

5 Day Chart for NASDAQ:EXAS

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