Bank of America Corporation set a $56.00 price target 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.
A number of other equities analysts have also commented on the stock. Vetr lowered shares of Exact Sciences Corporation from a hold rating to a sell rating and set a $34.70 price target on the stock. in a report on Wednesday, July 12th. BidaskClub upgraded shares of Exact Sciences Corporation from a buy rating to a strong-buy rating in a report on Friday, August 25th. Canaccord Genuity reiterated a buy rating and set a $45.00 price target on shares of Exact Sciences Corporation in a report on Thursday, September 7th. Benchmark Co. set a $50.00 price target on shares of Exact Sciences Corporation and gave the stock a buy rating in a report on Friday, July 7th. Finally, BTIG Research reiterated a buy rating and set a $45.00 price target (up previously from $35.00) on shares of Exact Sciences Corporation in a report on Monday, July 17th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $44.91.
Shares of Exact Sciences Corporation (NASDAQ:EXAS) traded up 3.41% during mid-day trading on Thursday, hitting $49.15. 1,662,604 shares of the company’s stock traded hands. The firm has a 50-day moving average of $45.56 and a 200 day moving average of $36.98. Exact Sciences Corporation has a 52 week low of $13.05 and a 52 week high of $50.65. The company’s market cap is $5.85 billion.
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 analysts’ consensus estimates of ($0.37) by $0.10. The firm had revenue of $57.65 million for the quarter, compared to analyst estimates of $47.73 million. Exact Sciences Corporation had a negative net margin of 83.08% and a negative return on equity of 36.36%. Equities research analysts predict that Exact Sciences Corporation will post ($1.18) EPS for the current year.
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In other news, Director Thomas D. Carey bought 2,500 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was acquired at an average price of $37.71 per share, with a total value of $94,275.00. Following the completion of the purchase, the director now directly owns 60,858 shares of the company’s stock, valued at $2,294,955.18. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP D Scott Coward sold 29,115 shares of Exact Sciences Corporation stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $47.16, for a total transaction of $1,373,063.40. Following the transaction, the senior vice president now directly owns 64,991 shares of the company’s stock, valued at approximately $3,064,975.56. The disclosure for this sale can be found here. Insiders have sold 237,444 shares of company stock valued at $10,412,421 in the last three months. 4.00% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. raised its stake in Exact Sciences Corporation by 0.8% during 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. 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 purchasing 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 purchasing an additional 320 shares in the last quarter. 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 purchasing an additional 511 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Exact Sciences Corporation by 17.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,072 shares of the medical research company’s stock valued at $144,000 after purchasing an additional 600 shares in the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.
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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