Exact Sciences Corp. (EXAS) Shares Down 4.2%
Exact Sciences Corp. (NASDAQ:EXAS) dropped 4.2% on Tuesday . The stock traded as low as $20.52 and last traded at $20.59, with a volume of 2,107,930 shares traded. The stock had previously closed at $21.49.
EXAS has been the topic of several analyst reports. BTIG Research reaffirmed a “buy” rating on shares of Exact Sciences Corp. in a research report on Tuesday, May 10th. Craig Hallum reaffirmed a “buy” rating on shares of Exact Sciences Corp. in a research report on Wednesday, June 22nd. Jefferies Group restated a “buy” rating and set a $13.00 target price on shares of Exact Sciences Corp. in a research report on Wednesday, June 15th. Robert W. Baird restated an “outperform” rating and set a $15.00 target price (up from $12.00) on shares of Exact Sciences Corp. in a research report on Wednesday, June 22nd. Finally, Zacks Investment Research upgraded Exact Sciences Corp. from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Friday, July 29th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $16.32.
The firm has a 50-day moving average price of $15.11 and a 200-day moving average price of $8.90. The firm’s market cap is $1.99 billion.
Exact Sciences Corp. (NASDAQ:EXAS) last announced its earnings results on Tuesday, July 26th. The company reported ($0.46) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.09. During the same period in the previous year, the company posted ($0.44) earnings per share. The business earned $21.20 million during the quarter, compared to analysts’ expectations of $18.54 million. Exact Sciences Corp.’s quarterly revenue was up 161.7% on a year-over-year basis. On average, equities research analysts predict that Exact Sciences Corp. will post ($1.79) earnings per share for the current fiscal year.
In other news, insider Graham Peter Lidgard sold 7,383 shares of the business’s stock in a transaction dated 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 $3,372,913.44. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Katherine S. Zanotti purchased 3,380 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were purchased at an average price of $17.93 per share, for a total transaction of $60,603.40. Following the completion of the purchase, the director now owns 105,927 shares of the company’s stock, valued at $1,899,271.11. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake in Exact Sciences Corp. stock. US Bancorp DE boosted its position in Exact Sciences Corp. (NASDAQ:EXAS) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 about 0.24% of Exact Sciences Corp. worth $2,119,000 at the end of the most recent reporting period.
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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