Exact Sciences Corp. (EXAS) Shares Up 6.5%
Shares of Exact Sciences Corp. (NASDAQ:EXAS) shot up 6.5% during mid-day trading on Thursday . The company traded as high as $20.79 and last traded at $20.72, with a volume of 3,272,490 shares. The stock had previously closed at $19.45.
A number of brokerages have recently issued reports on EXAS. Mizuho downgraded shares of Exact Sciences Corp. from a “buy” rating to a “neutral” rating and cut their price target for the stock from $12.00 to $6.50 in a report on Wednesday, May 4th. Canaccord Genuity restated a “buy” rating and set a $9.00 price target on shares of Exact Sciences Corp. in a report on Monday, May 2nd. Jefferies Group restated a “buy” rating on shares of Exact Sciences Corp. in a report on Wednesday, May 4th. William Blair restated a “buy” rating on shares of Exact Sciences Corp. in a report on Wednesday, June 15th. Finally, Zacks Investment Research upgraded shares of Exact Sciences Corp. from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Friday, July 29th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $15.54.
The firm’s market capitalization is $2.05 billion. The company has a 50-day moving average of $14.23 and a 200-day moving average of $8.56.
Exact Sciences Corp. (NASDAQ:EXAS) last announced its quarterly earnings results on Tuesday, July 26th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.09. The business earned $21.20 million during the quarter, compared to analysts’ expectations of $18.54 million. During the same period last year, the company earned ($0.44) EPS. The firm’s revenue for the quarter was up 161.7% on a year-over-year basis. Analysts forecast that Exact Sciences Corp. will post ($1.80) EPS for the current year.
In related news, COO Maneesh Arora sold 7,359 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The shares were 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 of the company’s stock, valued at $7,984,067.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Graham Peter Lidgard sold 7,383 shares of the company’s stock in a transaction that occurred 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 directly owns 227,592 shares in the company, valued at approximately $3,372,913.44. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Exact Sciences Corp. stock. US Bancorp DE boosted its stake in shares of Exact Sciences Corp. (NASDAQ:EXAS) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 229,594 shares of the company’s stock after buying an additional 5,109 shares during the period. US Bancorp DE owned approximately 0.24% of Exact Sciences Corp. worth $2,119,000 as of its most recent SEC filing.
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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