Exact Sciences Corp. (EXAS) Shares Down 2.8%
Exact Sciences Corp. (NASDAQ:EXAS) was down 2.8% during trading on Tuesday . The stock traded as low as $18.94 and last traded at $18.96, with a volume of 840,827 shares. The stock had previously closed at $19.50.
Several equities research analysts have commented on EXAS shares. Canaccord Genuity reiterated a “buy” rating and issued a $9.00 price target on shares of Exact Sciences Corp. in a research report on Monday, May 2nd. Mizuho downgraded Exact Sciences Corp. from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $12.00 to $6.50 in a report on Wednesday, May 4th. Jefferies Group restated a “buy” rating on shares of Exact Sciences Corp. in a report on Wednesday, May 4th. Zacks Investment Research downgraded Exact Sciences Corp. from a “buy” rating to a “hold” rating in a report on Friday, May 6th. Finally, BTIG Research restated a “buy” rating on shares of Exact Sciences Corp. in a report on Tuesday, May 10th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Exact Sciences Corp. presently has a consensus rating of “Buy” and a consensus price target of $16.32.
The stock’s market capitalization is $1.86 billion. The company’s 50 day moving average is $17.27 and its 200 day moving average is $9.90.
Exact Sciences Corp. (NASDAQ:EXAS) last posted 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 firm earned $21.20 million during the quarter, compared to the consensus estimate of $18.54 million. During the same quarter in the prior year, the business earned ($0.44) EPS. Exact Sciences Corp.’s revenue was up 161.7% on a year-over-year basis. Equities analysts expect that Exact Sciences Corp. will post ($1.79) earnings per share for the current year.
In related news, Director Katherine S. Zanotti bought 3,380 shares of Exact Sciences Corp. stock in a transaction on 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 acquisition, the director now owns 105,927 shares in the company, valued at $1,899,271.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Maneesh Arora sold 7,359 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $14.82, for a total value 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.
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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