EXACT Sciences (NASDAQ:EXAS) released its quarterly earnings results on Thursday. The medical research company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.11, Briefing.com reports. The business had revenue of $87.41 million during the quarter, compared to analysts’ expectations of $87.42 million. EXACT Sciences had a negative return on equity of 30.32% and a negative net margin of 60.71%. The firm’s revenue for the quarter was up 148.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.34) EPS.
Shares of EXACT Sciences (NASDAQ:EXAS) traded down $1.65 during trading on Thursday, hitting $44.99. The stock had a trading volume of 3,012,238 shares, compared to its average volume of 3,200,000. EXACT Sciences has a 12-month low of $19.91 and a 12-month high of $63.60. The company has a current ratio of 10.34, a quick ratio of 9.98 and a debt-to-equity ratio of 0.01. The stock has a market cap of $5,390.00, a PE ratio of -39.12 and a beta of 0.58.
Several research firms have weighed in on EXAS. Leerink Swann restated an “outperform” rating and set a $67.00 price target (up previously from $63.00) on shares of EXACT Sciences in a report on Monday, November 13th. Robert W. Baird cut EXACT Sciences from an “outperform” rating to a “neutral” rating and set a $56.00 price target for the company. in a report on Monday, November 13th. Bank of America lifted their target price on EXACT Sciences from $58.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, November 29th. Zacks Investment Research cut EXACT Sciences from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Finally, BTIG Research cut EXACT Sciences from a “buy” rating to a “neutral” rating in a report on Wednesday, November 1st. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $52.84.
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About EXACT Sciences
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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