Jefferies Group LLC Raises Exact Sciences Corporation (EXAS) Price Target to $60.00

Exact Sciences Corporation (NASDAQ:EXAS) had its target price lifted by Jefferies Group LLC to $60.00 in a research note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the medical research company’s stock. Jefferies Group LLC’s price target suggests a potential upside of 19.76% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. Bank of America Corporation set a $56.00 target price on shares of Exact Sciences Corporation and gave the company a “buy” rating in a research note on Thursday, October 19th. Robert W. Baird reissued a “buy” rating and issued a $49.00 target price on shares of Exact Sciences Corporation in a research note on Friday, October 6th. Canaccord Genuity reissued a “buy” rating and issued a $60.00 target price (up previously from $45.00) on shares of Exact Sciences Corporation in a research note on Tuesday, October 3rd. Zacks Investment Research raised shares of Exact Sciences Corporation from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Tuesday, September 26th. Finally, Leerink Swann reissued an “outperform” rating and issued a $50.00 target price (up previously from $45.00) on shares of Exact Sciences Corporation in a research note on Thursday, September 21st. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Exact Sciences Corporation has a consensus rating of “Buy” and a consensus target price of $46.58.

Shares of Exact Sciences Corporation (NASDAQ EXAS) opened at 50.10 on Tuesday. The company has a 50 day moving average of $46.72 and a 200-day moving average of $38.35. The stock’s market cap is $5.97 billion. Exact Sciences Corporation has a one year low of $13.05 and a one year high of $51.70.

Exact Sciences Corporation (NASDAQ:EXAS) last announced its earnings results on Monday, October 30th. The medical research company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.07. Exact Sciences Corporation had a negative net margin of 83.08% and a negative return on equity of 36.36%. The firm had revenue of $72.60 million during the quarter, compared to the consensus estimate of $65.03 million. During the same quarter in the previous year, the company posted ($0.36) EPS. The firm’s revenue for the quarter was up 158.4% on a year-over-year basis. On average, analysts anticipate that Exact Sciences Corporation will post ($1.17) earnings per share for the current year.

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In other news, insider Graham Peter Lidgard sold 75,683 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $40.81, for a total transaction of $3,088,623.23. Following the completion of the sale, the insider now owns 308,377 shares in the company, valued at approximately $12,584,865.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas D. Carey bought 2,500 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were purchased at an average price of $37.71 per share, with a total value of $94,275.00. Following the acquisition, the director now directly owns 60,858 shares in the company, valued at approximately $2,294,955.18. The disclosure for this purchase can be found here. Insiders have sold a total of 231,598 shares of company stock valued at $10,182,030 in the last quarter. Company insiders own 4.00% of the company’s stock.

Several large investors have recently modified their holdings of EXAS. Fortaleza Asset Management Inc. purchased a new stake in shares of Exact Sciences Corporation during the 2nd quarter worth about $106,000. Krilogy Financial LLC grew its holdings in shares of Exact Sciences Corporation by 1,460.0% during the 2nd quarter. Krilogy Financial LLC now owns 3,900 shares of the medical research company’s stock worth $138,000 after purchasing an additional 3,650 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Exact Sciences Corporation by 17.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,072 shares of the medical research company’s stock worth $144,000 after purchasing an additional 600 shares during the period. Financial Architects Inc grew its holdings in shares of Exact Sciences Corporation by 90.0% during the 2nd quarter. Financial Architects Inc now owns 4,295 shares of the medical research company’s stock worth $152,000 after purchasing an additional 2,035 shares during the period. Finally, Johnson Financial Group Inc. grew its holdings in shares of Exact Sciences Corporation by 25.9% during the 2nd quarter. Johnson Financial Group Inc. now owns 4,862 shares of the medical research company’s stock worth $172,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 85.12% of the company’s stock.

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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