Shares of Exact Sciences Corporation (NASDAQ:EXAS) hit a new 52-week high during trading on Wednesday . The stock traded as high as $42.20 and last traded at $42.43, with a volume of 798,138 shares. The stock had previously closed at $41.30.

EXAS has been the topic of several research analyst reports. BidaskClub upgraded Exact Sciences Corporation from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Leerink Swann set a $45.00 target price on Exact Sciences Corporation and gave the stock a “buy” rating in a report on Thursday, August 24th. Vetr upgraded Exact Sciences Corporation from a “buy” rating to a “strong-buy” rating and set a $36.39 target price on the stock in a report on Tuesday, June 13th. Zacks Investment Research cut Exact Sciences Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Finally, Benchmark Co. increased their target price on Exact Sciences Corporation from $34.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, May 31st. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $40.98.

The firm’s 50-day moving average is $39.16 and its 200-day moving average is $31.53. The company’s market cap is $5.10 billion.

Exact Sciences Corporation (NASDAQ:EXAS) last announced its earnings results on Tuesday, July 25th. The medical research company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.10. Exact Sciences Corporation had a negative return on equity of 36.36% and a negative net margin of 83.08%. The company had revenue of $57.65 million for the quarter, compared to analyst estimates of $47.73 million. On average, equities research analysts expect that Exact Sciences Corporation will post ($1.18) EPS for the current fiscal year.

In related news, SVP D Scott Coward sold 1,987 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $35.21, for a total transaction of $69,962.27. Following the transaction, the senior vice president now directly owns 57,603 shares of the company’s stock, valued at approximately $2,028,201.63. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Jeffrey Thomas Elliott sold 5,846 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $39.41, for a total value of $230,390.86. Following the transaction, the chief financial officer now directly owns 19,861 shares in the company, valued at $782,722.01. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,608 shares of company stock worth $2,199,558. 4.00% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of EXAS. BlackRock Inc. raised its stake in Exact Sciences Corporation by 45,816.0% during the 1st quarter. BlackRock Inc. now owns 6,804,297 shares of the medical research company’s stock worth $160,718,000 after buying an additional 6,789,478 shares during the period. JPMorgan Chase & Co. raised its stake in Exact Sciences Corporation by 98.1% during the 1st quarter. JPMorgan Chase & Co. now owns 4,985,657 shares of the medical research company’s stock worth $117,761,000 after buying an additional 2,468,376 shares during the period. Fred Alger Management Inc. acquired a new position in Exact Sciences Corporation during the 2nd quarter worth approximately $84,177,000. Point72 Asset Management L.P. raised its stake in Exact Sciences Corporation by 1,534.3% during the 1st quarter. Point72 Asset Management L.P. now owns 2,500,476 shares of the medical research company’s stock worth $59,061,000 after buying an additional 2,347,476 shares during the period. Finally, OppenheimerFunds Inc. raised its stake in Exact Sciences Corporation by 66.8% during the 1st quarter. OppenheimerFunds Inc. now owns 2,502,398 shares of the medical research company’s stock worth $59,107,000 after buying an additional 1,002,398 shares during the period. 85.22% of the stock is currently owned by institutional investors and hedge funds.

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About Exact Sciences Corporation

Exact Sciences Corporation is a molecular diagnostics company. The Company focuses on the early detection and prevention of some forms of cancer. It offers a non-invasive screening test called Cologuard for the early detection of colorectal cancer and pre-cancer. Its Cologuard test is a stool-based deoxyribonucleic acid (sDNA) screening test, which utilizes a multi-target approach to detect deoxyribonucleic acid (DNA) and hemoglobin biomarkers associated with colorectal cancer and pre-cancer.

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