Exact Sciences Corp. (EXAS) Stock Price Down 2%
Shares of Exact Sciences Corp. (NASDAQ:EXAS) were down 2% during mid-day trading on Tuesday . The stock traded as low as $20.31 and last traded at $20.38, with a volume of 1,163,160 shares changing hands. The stock had previously closed at $20.80.
Several analysts have issued reports on EXAS shares. Mizuho reaffirmed a “hold” rating and issued a $6.50 price objective on shares of Exact Sciences Corp. in a research report on Wednesday, June 15th. Craig Hallum raised shares of Exact Sciences Corp. from a “hold” rating to a “buy” rating and increased their price objective for the company from $6.00 to $18.00 in a research report on Thursday, June 16th. Zacks Investment Research raised shares of Exact Sciences Corp. from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Friday, July 29th. Canaccord Genuity reaffirmed a “buy” rating and issued a $12.00 price objective (up previously from $9.00) on shares of Exact Sciences Corp. in a research report on Wednesday, June 15th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Exact Sciences Corp. in a research report on Wednesday, June 15th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $16.32.
The stock has a 50-day moving average of $16.50 and a 200 day moving average of $9.51. The stock’s market cap is $2.01 billion.
Exact Sciences Corp. (NASDAQ:EXAS) last announced its quarterly earnings results on Tuesday, July 26th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.55) by $0.09. The firm had revenue of $21.20 million for the quarter, compared to analyst estimates of $18.54 million. The firm’s quarterly revenue was up 161.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.44) earnings per share. On average, equities analysts predict that Exact Sciences Corp. will post ($1.79) EPS for the current fiscal year.
In related news, Director Katherine S. Zanotti bought 3,380 shares of Exact Sciences Corp. stock in a transaction that occurred on Wednesday, August 3rd. The stock was purchased at an average cost of $17.93 per share, for a total transaction of $60,603.40. Following the acquisition, the director now owns 105,927 shares in the company, valued at $1,899,271.11. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Maneesh Arora sold 7,359 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The stock was 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.
A hedge fund recently raised its stake in Exact Sciences Corp. stock. US Bancorp DE increased its stake in Exact Sciences Corp. (NASDAQ:EXAS) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 quarter.
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.