Exact Sciences Corporation (NASDAQ:EXAS) CEO Kevin T. Conroy sold 137,805 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $59.14, for a total transaction of $8,149,787.70. Following the completion of the transaction, the chief executive officer now directly owns 967,867 shares of the company’s stock, valued at approximately $57,239,654.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Exact Sciences Corporation (EXAS) opened at $58.22 on Tuesday. Exact Sciences Corporation has a 52 week low of $13.05 and a 52 week high of $63.60. The company has a quick ratio of 9.98, a current ratio of 10.34 and a debt-to-equity ratio of 0.01.
Exact Sciences Corporation (NASDAQ:EXAS) last announced its quarterly earnings data on Monday, October 30th. The medical research company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.07. Exact Sciences Corporation had a negative net margin of 60.71% and a negative return on equity of 30.32%. The firm had revenue of $72.60 million for the quarter, compared to analysts’ expectations of $65.03 million. During the same period last year, the firm earned ($0.36) earnings per share. The business’s revenue for the quarter was up 158.4% on a year-over-year basis. equities analysts forecast that Exact Sciences Corporation will post -1.14 EPS for the current year.
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Hedge funds have recently made changes to their positions in the business. State of Wisconsin Investment Board bought a new position in Exact Sciences Corporation in the second quarter valued at approximately $3,006,000. Victory Capital Management Inc. bought a new position in Exact Sciences Corporation in the second quarter valued at approximately $29,450,000. Eagle Asset Management Inc. boosted its stake in Exact Sciences Corporation by 19.6% in the second quarter. Eagle Asset Management Inc. now owns 1,857,185 shares of the medical research company’s stock valued at $65,688,000 after acquiring an additional 304,598 shares during the last quarter. Federated Investors Inc. PA boosted its stake in Exact Sciences Corporation by 53.3% in the second quarter. Federated Investors Inc. PA now owns 34,553 shares of the medical research company’s stock valued at $1,222,000 after acquiring an additional 12,018 shares during the last quarter. Finally, Bank of Nova Scotia bought a new position in Exact Sciences Corporation in the second quarter valued at approximately $1,482,000. 85.65% of the stock is currently owned by hedge funds and other institutional investors.
EXAS has been the subject of several recent research reports. Leerink Swann set a $45.00 price target on shares of Exact Sciences Corporation and gave the stock a “buy” rating in a research report on Thursday, August 24th. Robert W. Baird reissued a “buy” rating and issued a $49.00 price target on shares of Exact Sciences Corporation in a research report on Friday, October 6th. Bank of America Corporation set a $56.00 price target on shares of Exact Sciences Corporation and gave the stock a “buy” rating in a research report on Thursday, October 19th. Canaccord Genuity raised shares of Exact Sciences Corporation to a “buy” rating and set a $60.00 price target for the company in a research report on Tuesday, October 31st. Finally, Zacks Investment Research raised shares of Exact Sciences Corporation from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research report on Tuesday, September 26th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $49.98.
Exact Sciences Corporation 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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