Exact Sciences Corp. (EXAS) Shares Up 3%
Shares of Exact Sciences Corp. (NASDAQ:EXAS) shot up 3% during trading on Thursday . The company traded as high as $20.85 and last traded at $20.74, with a volume of 1,362,035 shares trading hands. The stock had previously closed at $20.14.
A number of brokerages recently commented on EXAS. Mizuho lowered Exact Sciences Corp. from a “buy” rating to a “neutral” rating and decreased their target price for the company from $12.00 to $6.50 in a research report on Wednesday, May 4th. Canaccord Genuity reaffirmed a “buy” rating and issued a $9.00 target price on shares of Exact Sciences Corp. in a research report on Monday, May 2nd. Jefferies Group reiterated a “buy” rating on shares of Exact Sciences Corp. in a research note on Wednesday, May 4th. William Blair reiterated a “buy” rating on shares of Exact Sciences Corp. in a research note on Wednesday, June 15th. Finally, Zacks Investment Research upgraded Exact Sciences Corp. from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Friday, July 29th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $16.32.
The company’s market cap is $2.03 billion. The company has a 50 day moving average price of $16.15 and a 200-day moving average price of $9.26.
Exact Sciences Corp. (NASDAQ:EXAS) last released its quarterly earnings results on Tuesday, July 26th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.55) by $0.09. The company earned $21.20 million during the quarter, compared to the consensus estimate of $18.54 million. Exact Sciences Corp.’s quarterly revenue was up 161.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.44) earnings per share. Equities analysts expect that Exact Sciences Corp. will post ($1.79) earnings per share for the current fiscal year.
In other Exact Sciences Corp. news, COO Maneesh Arora sold 7,359 shares of the firm’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 completion of 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 available through the SEC website. Also, Director Katherine S. Zanotti bought 3,380 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were acquired at an average cost of $17.93 per share, with a total value of $60,603.40. Following the purchase, the director now directly owns 105,927 shares of the company’s stock, valued at approximately $1,899,271.11. The disclosure for this purchase can be found here.
An institutional investor recently raised its position in Exact Sciences Corp. stock. US Bancorp DE raised its position in shares of Exact Sciences Corp. (NASDAQ:EXAS) by 2.3% during the fourth quarter, according to its most recent disclosure 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 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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