Jefferies Group LLC reiterated their buy rating on shares of EXACT Sciences Co. (NASDAQ:EXAS) in a report published on Tuesday morning. They currently have a $35.00 price objective on the medical research company’s stock.
A number of other analysts have also recently commented on EXAS. Benchmark Co. upgraded EXACT Sciences from a hold rating to a buy rating and lifted their target price for the stock from $17.00 to $27.00 in a research report on Tuesday, February 21st. Cowen and Company lifted their target price on EXACT Sciences from $40.00 to $45.00 and gave the stock an outperform rating in a research report on Friday, May 5th. Vetr upgraded EXACT Sciences from a hold rating to a buy rating and set a $36.13 target price on the stock in a research report on Wednesday, May 10th. Zacks Investment Research cut EXACT Sciences from a buy rating to a hold rating in a research report on Friday, February 24th. Finally, Canaccord Genuity reiterated a buy rating and set a $24.00 target price (down previously from $27.00) on shares of EXACT Sciences in a research report on Wednesday, February 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. EXACT Sciences has an average rating of Buy and an average price target of $27.41.
EXACT Sciences (NASDAQ:EXAS) traded down 0.87% during mid-day trading on Tuesday, reaching $30.76. The company’s stock had a trading volume of 400,274 shares. EXACT Sciences has a one year low of $5.43 and a one year high of $36.14. The firm’s market cap is $3.42 billion. The stock’s 50 day moving average is $27.58 and its 200 day moving average is $20.20.
EXACT Sciences (NASDAQ:EXAS) last posted its earnings results on Thursday, April 27th. The medical research company reported ($0.32) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.41) by $0.09. EXACT Sciences had a negative return on equity of 55.44% and a negative net margin of 216.45%. The business had revenue of $48.36 million for the quarter, compared to analysts’ expectations of $37.38 million. During the same quarter in the previous year, the firm earned ($0.49) earnings per share. The business’s revenue was up 225.9% compared to the same quarter last year. On average, analysts anticipate that EXACT Sciences will post ($1.35) EPS for the current year.
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In other EXACT Sciences news, insider Graham Peter Lidgard sold 8,668 shares of EXACT Sciences stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $21.51, for a total value of $186,448.68. Following the sale, the insider now owns 314,527 shares of the company’s stock, valued at approximately $6,765,475.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP D Scott Coward sold 1,543 shares of EXACT Sciences stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $23.74, for a total value of $36,630.82. Following the completion of the sale, the senior vice president now directly owns 55,478 shares in the company, valued at approximately $1,317,047.72. The disclosure for this sale can be found here. Insiders sold a total of 47,987 shares of company stock worth $1,028,453 in the last ninety days. 5.60% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. United Services Automobile Association raised its stake in shares of EXACT Sciences by 8.7% in the third quarter. United Services Automobile Association now owns 211,085 shares of the medical research company’s stock worth $3,920,000 after buying an additional 16,900 shares in the last quarter. Tiverton Asset Management LLC raised its stake in shares of EXACT Sciences by 57.3% in the third quarter. Tiverton Asset Management LLC now owns 688,200 shares of the medical research company’s stock valued at $12,780,000 after buying an additional 250,599 shares during the period. California State Teachers Retirement System raised its stake in shares of EXACT Sciences by 10.2% in the third quarter. California State Teachers Retirement System now owns 223,742 shares of the medical research company’s stock valued at $4,155,000 after buying an additional 20,700 shares during the period. SG Americas Securities LLC purchased a new stake in shares of EXACT Sciences during the third quarter valued at approximately $438,000. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of EXACT Sciences by 12.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,725,360 shares of the medical research company’s stock valued at $50,610,000 after buying an additional 299,273 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.
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