EXACT Sciences (EXAS) Shares Gap Down to $68.25

EXACT Sciences Co. (NASDAQ:EXAS) gapped down prior to trading on Tuesday . The stock had previously closed at $67.50, but opened at $68.25. EXACT Sciences shares last traded at $69.28, with a volume of 47945 shares trading hands.

EXAS has been the subject of a number of research reports. UBS Group initiated coverage on shares of EXACT Sciences in a research report on Tuesday, October 9th. They issued a “buy” rating and a $100.00 price target for the company. Cowen boosted their price target on shares of EXACT Sciences from $65.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, September 5th. Bank of America boosted their price target on shares of EXACT Sciences from $68.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, September 6th. BidaskClub cut shares of EXACT Sciences from a “buy” rating to a “hold” rating in a research report on Friday, September 14th. Finally, Robert W. Baird boosted their price target on shares of EXACT Sciences from $74.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, September 11th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. EXACT Sciences has an average rating of “Buy” and an average target price of $84.08.

The company has a debt-to-equity ratio of 0.94, a quick ratio of 11.72 and a current ratio of 12.08. The company has a market cap of $9.17 billion, a P/E ratio of -70.11 and a beta of 1.21.

EXACT Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Tuesday, October 30th. The medical research company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.05. The company had revenue of $118.29 million for the quarter, compared to analyst estimates of $109.33 million. EXACT Sciences had a negative net margin of 35.83% and a negative return on equity of 20.18%. EXACT Sciences’s quarterly revenue was up 63.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.23) earnings per share. On average, research analysts forecast that EXACT Sciences Co. will post -1.53 EPS for the current fiscal year.

In other EXACT Sciences news, insider D Scott Coward sold 2,190 shares of EXACT Sciences stock in a transaction on Monday, October 1st. The shares were sold at an average price of $79.51, for a total value of $174,126.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Graham Peter Lidgard sold 38,311 shares of EXACT Sciences stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $75.01, for a total transaction of $2,873,708.11. Following the completion of the transaction, the insider now owns 29,398 shares in the company, valued at $2,205,143.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 218,255 shares of company stock worth $15,791,740. 3.20% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cornerstone Wealth Management LLC acquired a new position in shares of EXACT Sciences during the second quarter worth about $182,000. Chicago Partners Investment Group LLC increased its stake in shares of EXACT Sciences by 47.6% during the third quarter. Chicago Partners Investment Group LLC now owns 3,100 shares of the medical research company’s stock worth $191,000 after acquiring an additional 1,000 shares during the period. Hartford Investment Management Co. acquired a new position in shares of EXACT Sciences during the second quarter worth about $202,000. Fulton Bank N.A. acquired a new position in shares of EXACT Sciences during the third quarter worth about $208,000. Finally, Alps Advisors Inc. acquired a new position in shares of EXACT Sciences during the second quarter worth about $210,000. Institutional investors own 87.58% of the company’s stock.

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EXACT Sciences Company Profile (NASDAQ:EXAS)

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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