Exact Sciences Corp. (EXAS) Shares Up 4.5%
Exact Sciences Corp. (NASDAQ:EXAS)’s share price shot up 4.5% on Monday . The company traded as high as $18.79 and last traded at $18.17, with a volume of 4,749,224 shares trading hands. The stock had previously closed at $17.38.
A number of brokerages have weighed in on EXAS. Roth Capital reiterated a “hold” rating and issued a $15.00 price target (up previously from $11.00) on shares of Exact Sciences Corp. in a report on Monday. Jefferies Group reiterated a “buy” rating on shares of Exact Sciences Corp. in a report on Wednesday, May 4th. Craig Hallum lifted their price target on shares of Exact Sciences Corp. from $18.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Canaccord Genuity reiterated a “buy” rating and issued a $9.00 price target on shares of Exact Sciences Corp. in a report on Monday, May 2nd. Finally, Mizuho lowered shares of Exact Sciences Corp. from a “buy” rating to a “neutral” rating and decreased their price target for the company from $12.00 to $6.50 in a report on Wednesday, May 4th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $15.54.
The company has a 50-day moving average price of $12.10 and a 200 day moving average price of $7.86. The stock’s market cap is $1.78 billion.
Exact Sciences Corp. (NASDAQ:EXAS) last released its quarterly earnings data on Tuesday, July 26th. The company reported ($0.46) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.55) by $0.09. The company earned $21.20 million during the quarter, compared to analyst estimates of $18.54 million. During the same quarter in the prior year, the company posted ($0.44) EPS. The firm’s quarterly revenue was up 161.7% compared to the same quarter last year. Equities research analysts expect that Exact Sciences Corp. will post ($1.81) earnings per share for the current fiscal year.
In other news, insider Graham Peter Lidgard sold 7,383 shares of the stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $14.82, for a total transaction of $109,416.06. Following the transaction, the insider now owns 227,592 shares in the company, valued at approximately $3,372,913.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Maneesh Arora sold 7,359 shares of the stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $14.82, for a total transaction of $109,060.38. Following the transaction, the chief operating officer now owns 538,736 shares in the company, valued at approximately $7,984,067.52. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have made changes to their positions in the company. California State Teachers Retirement System raised its position in shares of Exact Sciences Corp. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 177,702 shares of the company’s stock valued at $1,640,000 after buying an additional 2,809 shares during the period. US Bancorp DE increased its stake in Exact Sciences Corp. by 2.3% in the fourth quarter. US Bancorp DE now owns 229,594 shares of the company’s stock valued at $2,119,000 after buying an additional 5,109 shares in the last quarter. Finally, Eagle Asset Management purchased a new stake in Exact Sciences Corp. during the third quarter valued at about $39,880,000.
Exact Sciences Corporation is a molecular diagnostics company focused on the early detection and prevention of some forms of cancer. The Company’s product pipeline includes Lung Cancer Nodules, Pancreatic Cancer Screening, Esophageal Cancer Screening, Lung Cancer Pipeline, Pancreatic Cancer Pipeline and Esophageal Cancer Pipeline.
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