Exact Sciences Corporation (EXAS) PT Set at $56.00 by Bank of America Corporation
Exact Sciences Corporation (NASDAQ:EXAS) received a $56.00 target price from stock analysts at Bank of America Corporation in a note issued to investors on Thursday. The firm presently has a “buy” rating on the medical research company’s stock. Bank of America Corporation’s price objective points to a potential upside of 20.12% from the company’s current price.
A number of other analysts have also issued reports on the company. Robert W. Baird reiterated a “buy” rating and set a $49.00 price objective on shares of Exact Sciences Corporation in a research note on Friday, October 6th. Canaccord Genuity reiterated a “buy” rating and set a $60.00 price objective (up from $45.00) on shares of Exact Sciences Corporation in a research note on Tuesday, October 3rd. Zacks Investment Research upgraded Exact Sciences Corporation from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Tuesday, September 26th. Leerink Swann reiterated an “outperform” rating and set a $50.00 price objective (up from $45.00) on shares of Exact Sciences Corporation in a research note on Thursday, September 21st. Finally, BidaskClub upgraded Exact Sciences Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 25th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Exact Sciences Corporation has an average rating of “Buy” and a consensus price target of $44.91.
Exact Sciences Corporation (EXAS) traded up 1.52% during mid-day trading on Thursday, hitting $47.33. The stock had a trading volume of 868,479 shares. The company’s 50 day moving average is $45.15 and its 200-day moving average is $36.72. The stock’s market capitalization is $5.64 billion. Exact Sciences Corporation has a 52 week low of $13.05 and a 52 week high of $50.65.
Exact Sciences Corporation (NASDAQ:EXAS) last released its quarterly earnings data on Tuesday, July 25th. The medical research company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, analysts expect that Exact Sciences Corporation will post ($1.18) EPS for the current fiscal year.
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In other Exact Sciences Corporation news, Director Thomas D. Carey bought 2,500 shares of Exact Sciences Corporation stock in a transaction that occurred on Thursday, August 17th. The stock was acquired at an average cost of $37.71 per share, for a total transaction of $94,275.00. Following the completion of the transaction, the director now directly owns 60,858 shares in the company, valued at $2,294,955.18. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP D Scott Coward sold 29,115 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $47.16, for a total value of $1,373,063.40. Following the transaction, the senior vice president now owns 64,991 shares of the company’s stock, valued at $3,064,975.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 237,444 shares of company stock valued at $10,412,421. 4.00% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Fortaleza Asset Management Inc. purchased a new position in shares of Exact Sciences Corporation in the 2nd quarter worth about $106,000. Krilogy Financial LLC boosted its holdings in shares of Exact Sciences Corporation by 1,460.0% in the 2nd quarter. Krilogy Financial LLC now owns 3,900 shares of the medical research company’s stock worth $138,000 after purchasing an additional 3,650 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Exact Sciences Corporation by 17.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,072 shares of the medical research company’s stock worth $144,000 after purchasing an additional 600 shares in the last quarter. Financial Architects Inc boosted its holdings in shares of Exact Sciences Corporation by 90.0% in the 2nd quarter. Financial Architects Inc now owns 4,295 shares of the medical research company’s stock worth $152,000 after purchasing an additional 2,035 shares in the last quarter. Finally, Johnson Financial Group Inc. boosted its holdings in shares of Exact Sciences Corporation by 25.9% in the 2nd quarter. Johnson Financial Group Inc. now owns 4,862 shares of the medical research company’s stock worth $172,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.
Exact Sciences Corporation Company Profile
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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