Exact Sciences Corp. (EXAS) Shares Down 2.8%
Shares of Exact Sciences Corp. (NASDAQ:EXAS) fell 2.8% on Tuesday . The stock traded as low as $18.94 and last traded at $18.96, with a volume of 840,827 shares trading hands. The stock had previously closed at $19.50.
Several brokerages have recently weighed in on EXAS. Mizuho lowered Exact Sciences Corp. from a “buy” rating to a “neutral” rating and cut their price objective for the company 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. William Blair restated a “buy” rating on shares of Exact Sciences Corp. in a report on Wednesday, June 15th. Zacks Investment Research upgraded Exact Sciences Corp. from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Friday, July 29th. Finally, Roth Capital restated a “hold” rating and issued a $7.00 price objective on shares of Exact Sciences Corp. in a report on Wednesday, June 15th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Exact Sciences Corp. has an average rating of “Buy” and an average price target of $16.32.
The stock has a 50-day moving average price of $17.59 and a 200 day moving average price of $10.06. The company’s market capitalization is $1.80 billion.
Exact Sciences Corp. (NASDAQ:EXAS) last posted its quarterly earnings results on Tuesday, July 26th. The company reported ($0.46) EPS for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.09. During the same quarter in the previous year, the business posted ($0.44) EPS. The business had revenue of $21.20 million for the quarter, compared to the consensus estimate of $18.54 million. The company’s revenue for the quarter was up 161.7% on a year-over-year basis. Equities analysts predict that Exact Sciences Corp. will post ($1.79) earnings per share for the current year.
In related news, Director Katherine S. Zanotti purchased 3,380 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was acquired at an average cost 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 in the company, valued at approximately $1,899,271.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Maneesh Arora sold 7,359 shares of the business’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 value of $109,060.38. Following the completion of the sale, the chief operating officer now owns 538,736 shares of the company’s stock, valued at $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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