Exact Sciences Corporation (NASDAQ:EXAS) has earned an average recommendation of “Buy” from the seventeen research firms that are currently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $40.82.
Several brokerages recently weighed in on EXAS. Canaccord Genuity restated a “buy” rating and set a $45.00 target price (up from $42.00) on shares of Exact Sciences Corporation in a report on Wednesday, July 26th. Zacks Investment Research cut Exact Sciences Corporation from a “buy” rating to a “hold” rating in a report on Friday. Lake Street Capital increased their target price on Exact Sciences Corporation from $30.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday, July 26th. Vetr cut Exact Sciences Corporation from a “buy” rating to a “hold” rating and set a $38.66 target price for the company. in a report on Thursday. Finally, Craig Hallum restated a “buy” rating and set a $46.00 target price (up from $41.00) on shares of Exact Sciences Corporation in a report on Wednesday, July 26th.
Exact Sciences Corporation (EXAS) opened at 38.69 on Tuesday. Exact Sciences Corporation has a 1-year low of $13.05 and a 1-year high of $42.18. The firm’s market capitalization is $4.61 billion. The company has a 50 day moving average price of $36.51 and a 200-day moving average price of $27.90.
Exact Sciences Corporation (NASDAQ:EXAS) last issued its earnings results on Tuesday, July 25th. The medical research company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.10. The company had revenue of $57.65 million during the quarter, compared to analysts’ expectations of $47.73 million. Exact Sciences Corporation had a negative return on equity of 36.36% and a negative net margin of 83.08%. On average, analysts forecast that Exact Sciences Corporation will post ($1.18) EPS for the current fiscal year.
In other news, CFO Jeffrey Thomas Elliott sold 5,846 shares of the firm’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 completion of the transaction, the chief financial officer now owns 19,861 shares in the company, valued at approximately $782,722.01. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP D Scott Coward sold 1,987 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $35.21, for a total value of $69,962.27. Following the completion of the transaction, the senior vice president now owns 57,603 shares of the company’s stock, valued at approximately $2,028,201.63. The disclosure for this sale can be found here. Company insiders own 4.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Neuberger Berman Group LLC bought a new position in Exact Sciences Corporation during the first quarter worth $6,391,000. Nationwide Fund Advisors raised its position in Exact Sciences Corporation by 52.1% in the first quarter. Nationwide Fund Advisors now owns 149,167 shares of the medical research company’s stock worth $3,523,000 after buying an additional 51,085 shares during the period. Russell Investments Group Ltd. bought a new position in Exact Sciences Corporation during the fourth quarter worth $758,000. UBS Group AG raised its position in Exact Sciences Corporation by 32.1% in the first quarter. UBS Group AG now owns 108,305 shares of the medical research company’s stock worth $2,558,000 after buying an additional 26,309 shares during the period. Finally, Norges Bank bought a new position in Exact Sciences Corporation during the fourth quarter worth $25,200,000. 84.45% of the stock is owned by institutional investors.
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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