Exact Sciences Corp. (EXAS) Stock Price Down 4.2%
Exact Sciences Corp. (NASDAQ:EXAS) shares dropped 4.2% during trading on Tuesday . The company traded as low as $20.52 and last traded at $20.59, with a volume of 2,107,930 shares changing hands. The stock had previously closed at $21.49.
EXAS has been the topic of a number of research reports. Goldman Sachs Group Inc. raised their target price on shares of Exact Sciences Corp. from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday. William Blair reissued an “outperform” rating and set a $29.00 target price on shares of Exact Sciences Corp. in a research report on Friday, July 15th. Roth Capital reissued a “hold” rating and set a $15.00 target price (up previously from $11.00) on shares of Exact Sciences Corp. in a research report on Monday, August 1st. Craig Hallum raised shares of Exact Sciences Corp. from a “hold” rating to a “buy” rating and raised their target price for the company from $6.00 to $18.00 in a research report on Thursday, June 16th. Finally, Robert W. Baird reissued an “outperform” rating and set a $18.00 target price on shares of Exact Sciences Corp. in a research report on Sunday, July 31st. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $16.32.
The company’s market cap is $1.98 billion. The firm has a 50 day moving average of $15.63 and a 200-day moving average of $9.08.
Exact Sciences Corp. (NASDAQ:EXAS) last posted its earnings results on Tuesday, July 26th. The company reported ($0.46) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.55) by $0.09. The company earned $21.20 million during the quarter, compared to analyst estimates of $18.54 million. The company’s quarterly revenue was up 161.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.44) EPS. On average, analysts expect that Exact Sciences Corp. will post ($1.79) earnings per share for the current year.
In other news, insider Graham Peter Lidgard sold 7,383 shares of the 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 sale, the insider now owns 227,592 shares of the company’s stock, valued at $3,372,913.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Katherine S. Zanotti purchased 3,380 shares of Exact Sciences Corp. stock in a transaction dated Wednesday, August 3rd. The shares were acquired at an average cost of $17.93 per share, for a total transaction of $60,603.40. Following the transaction, 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.
A hedge fund recently raised its stake in Exact Sciences Corp. stock. US Bancorp DE raised its stake in Exact Sciences Corp. (NASDAQ:EXAS) by 2.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund 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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