Leerink Swann set a $45.00 price objective on Exact Sciences Corporation (NASDAQ:EXAS) in a research note issued to investors on Thursday morning. The firm currently has a buy rating on the medical research company’s stock.
Several other research analysts also recently weighed in on EXAS. Jefferies Group LLC set a $35.00 target price on shares of Exact Sciences Corporation and gave the stock a buy rating in a research report on Thursday, June 1st. Zacks Investment Research downgraded shares of Exact Sciences Corporation from a buy rating to a hold rating in a research report on Friday, August 4th. Vetr downgraded shares of Exact Sciences Corporation from a strong-buy rating to a hold rating and set a $35.91 target price on the stock. in a research report on Wednesday, May 31st. Cowen and Company reissued an outperform rating and issued a $45.00 target price on shares of Exact Sciences Corporation in a research report on Wednesday, May 31st. Finally, Benchmark Co. lifted their target price on shares of Exact Sciences Corporation from $34.00 to $50.00 and gave the stock a buy rating in a research report on Wednesday, May 31st. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $40.98.
Exact Sciences Corporation (EXAS) opened at 39.96 on Thursday. The firm’s market capitalization is $4.76 billion. Exact Sciences Corporation has a one year low of $13.05 and a one year high of $42.18. The stock’s 50 day moving average price is $38.63 and its 200 day moving average price is $30.31.
Exact Sciences Corporation (NASDAQ:EXAS) last released its earnings results on Tuesday, July 25th. The medical research company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.10. The business had revenue of $57.65 million for the quarter, compared to the consensus estimate of $47.73 million. Exact Sciences Corporation had a negative net margin of 83.08% and a negative return on equity of 36.36%. Analysts expect that Exact Sciences Corporation will post ($1.18) EPS for the current year.
In related news, Director Thomas D. Carey acquired 2,500 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were purchased at an average cost of $37.71 per share, with a total value of $94,275.00. Following the completion of the transaction, the director now owns 60,858 shares of the company’s stock, valued at approximately $2,294,955.18. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeffrey Thomas Elliott sold 5,846 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $39.41, for a total transaction 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. Insiders own 4.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. increased its position in shares of Exact Sciences Corporation by 0.8% in the second quarter. Advisor Group Inc. now owns 7,866 shares of the medical research company’s stock worth $270,000 after buying an additional 65 shares during the last quarter. Suntrust Banks Inc. increased its stake in Exact Sciences Corporation by 1.5% in the first quarter. Suntrust Banks Inc. now owns 18,478 shares of the medical research company’s stock valued at $436,000 after buying an additional 277 shares in the last quarter. Stifel Financial Corp increased its stake in Exact Sciences Corporation by 1.5% in the first quarter. Stifel Financial Corp now owns 21,475 shares of the medical research company’s stock valued at $506,000 after buying an additional 310 shares in the last quarter. Prudential Financial Inc. increased its stake in Exact Sciences Corporation by 3.0% in the first quarter. Prudential Financial Inc. now owns 11,141 shares of the medical research company’s stock valued at $263,000 after buying an additional 320 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its stake in Exact Sciences Corporation by 5.6% in the second quarter. Ameritas Investment Partners Inc. now owns 9,640 shares of the medical research company’s stock valued at $341,000 after buying an additional 511 shares in the last quarter. 85.44% of the stock is currently owned by hedge funds and other institutional investors.
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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