Exact Sciences Corporation (EXAS) Hits New 1-Year High at $42.20
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.
TRADEMARK VIOLATION WARNING: This piece of content was first posted by Daily Political and is owned by of Daily Political. If you are accessing this piece of content on another site, it was illegally copied and reposted in violation of U.S. and international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://www.dailypolitical.com/2017/09/06/exact-sciences-corporation-exas-hits-new-1-year-high-at-42-20.html.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.