Bank of America Reiterates “$67.00” Price Target for EXACT Sciences (EXAS)
Several other equities analysts have also commented on the stock. Canaccord Genuity upgraded shares of EXACT Sciences to a buy rating and set a $60.00 price objective for the company in a research report on Tuesday, October 31st. Leerink Swann reiterated an outperform rating and set a $67.00 price objective (up previously from $63.00) on shares of EXACT Sciences in a research report on Monday, November 13th. Robert W. Baird increased their price objective on shares of EXACT Sciences from $49.00 to $56.00 and gave the company an outperform rating in a research report on Tuesday, October 31st. Jefferies Group increased their price objective on shares of EXACT Sciences to $60.00 and gave the company a buy rating in a research report on Tuesday, October 31st. Finally, Craig Hallum increased their price objective on shares of EXACT Sciences from $46.00 to $61.00 and gave the company a buy rating in a research report on Tuesday, October 31st. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $50.58.
EXACT Sciences (EXAS) opened at $55.06 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.98 and a current ratio of 10.34. EXACT Sciences has a 12-month low of $16.95 and a 12-month high of $63.60. The firm has a market cap of $6,590.00, a price-to-earnings ratio of -47.88 and a beta of 0.68.
EXACT Sciences (NASDAQ:EXAS) last issued its earnings results on Monday, October 30th. The medical research company reported ($0.23) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.07. EXACT Sciences had a negative net margin of 60.71% and a negative return on equity of 30.32%. The firm had revenue of $72.60 million during the quarter, compared to analyst estimates of $65.03 million. During the same quarter in the prior year, the business earned ($0.36) earnings per share. EXACT Sciences’s revenue for the quarter was up 158.4% on a year-over-year basis. analysts expect that EXACT Sciences will post -1.1 EPS for the current year.
In related news, SVP D Scott Coward sold 1,665 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $52.54, for a total value of $87,479.10. Following the transaction, the senior vice president now owns 37,558 shares of the company’s stock, valued at approximately $1,973,297.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Graham Peter Lidgard sold 45,775 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $53.60, for a total transaction of $2,453,540.00. Following the completion of the transaction, the insider now directly owns 272,819 shares in the company, valued at approximately $14,623,098.40. The disclosure for this sale can be found here. In the last three months, insiders sold 610,433 shares of company stock worth $34,341,306. Insiders own 4.00% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Fred Alger Management Inc. purchased a new position in EXACT Sciences during the 2nd quarter valued at about $84,177,000. Lord Abbett & CO. LLC increased its position in EXACT Sciences by 59.1% during the 2nd quarter. Lord Abbett & CO. LLC now owns 2,356,706 shares of the medical research company’s stock valued at $83,357,000 after purchasing an additional 875,527 shares during the period. Vanguard Group Inc. increased its position in EXACT Sciences by 8.0% during the 2nd quarter. Vanguard Group Inc. now owns 9,459,679 shares of the medical research company’s stock valued at $334,589,000 after purchasing an additional 700,051 shares during the period. Green Valley Investors LLC purchased a new position in EXACT Sciences during the 2nd quarter valued at about $20,892,000. Finally, FMR LLC increased its position in EXACT Sciences by 32.7% during the 2nd quarter. FMR LLC now owns 2,318,269 shares of the medical research company’s stock valued at $81,997,000 after purchasing an additional 571,796 shares during the period. 82.39% of the stock is currently owned by institutional investors.
EXACT Sciences 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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