EXACT Sciences (NASDAQ:EXAS) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of EXACT Sciences (NASDAQ:EXAS) from a sell rating to a hold rating in a report issued on Monday, Zacks.com reports.

According to Zacks, “EXACT Sciences Corporation uses applied genomics to develop effective, patient-friendly screening technologies for use in the detection of cancer. Certain of its technologies have been licensed to Laboratory Corporation of America Holdings for a stool-based DNA screening assay for colorectal cancer in the average-risk population. Colorectal cancer, which is the most deadly cancer among non-smokers, is generally curable if detected early. Despite the availability of colorectal cancer screening and diagnostic tests for more than twenty years, the rate of early detection of colorectal cancer remains low, and deaths from colorectal cancer remain high. EXACT Sciences believes its genomics-based technologies would help to enable detection of colorectal cancer so that more people can be effectively treated. “

EXAS has been the subject of a number of other research reports. Jefferies Financial Group increased their price target on shares of EXACT Sciences from $100.00 to $115.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. UBS Group cut shares of Advanced Disposal Services from a buy rating to a neutral rating and set a $33.00 price target for the company. in a research note on Wednesday, May 1st. They noted that the move was a valuation call. BTIG Research raised their target price on shares of Apple to $234.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. Craig Hallum raised their target price on shares of 1-800-Flowers.Com from $26.00 to $20.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. Finally, Canaccord Genuity raised their target price on shares of TELUS from C$51.00 to C$52.00 in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $108.45.

Shares of NASDAQ:EXAS opened at $116.16 on Monday. The firm has a market cap of $15.54 billion, a PE ratio of -85.41 and a beta of 1.65. The stock’s fifty day simple moving average is $110.14. The company has a debt-to-equity ratio of 1.02, a quick ratio of 8.13 and a current ratio of 8.39. EXACT Sciences has a 1-year low of $47.78 and a 1-year high of $121.98.

EXACT Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Tuesday, April 30th. The medical research company reported ($0.66) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.65) by ($0.01). The business had revenue of $162.00 million for the quarter, compared to analyst estimates of $153.07 million. EXACT Sciences had a negative return on equity of 28.83% and a negative net margin of 41.58%. The firm’s revenue for the quarter was up 79.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.33) EPS. Analysts anticipate that EXACT Sciences will post -2.18 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC raised its position in EXACT Sciences by 28.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 27,259 shares of the medical research company’s stock valued at $1,720,000 after purchasing an additional 5,986 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in EXACT Sciences by 24.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 38,493 shares of the medical research company’s stock valued at $2,429,000 after purchasing an additional 7,531 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in EXACT Sciences during the fourth quarter valued at about $300,000. Great West Life Assurance Co. Can raised its position in EXACT Sciences by 13.6% during the fourth quarter. Great West Life Assurance Co. Can now owns 14,904 shares of the medical research company’s stock valued at $908,000 after purchasing an additional 1,779 shares in the last quarter. Finally, Natixis Advisors L.P. raised its position in EXACT Sciences by 47.6% during the fourth quarter. Natixis Advisors L.P. now owns 17,095 shares of the medical research company’s stock valued at $1,079,000 after purchasing an additional 5,514 shares in the last quarter. Institutional investors and hedge funds own 86.27% of the company’s stock.

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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