Exact Sciences Corporation (NASDAQ:EXAS) had its target price increased by Craig Hallum from $46.00 to $61.00 in a report published on Tuesday. Craig Hallum currently has a buy rating on the medical research company’s stock.
Several other research analysts have also weighed in on the company. Benchmark Co. reissued a buy rating and set a $60.00 price target (up from $50.00) on shares of Exact Sciences Corporation in a research report on Tuesday. Leerink Swann reissued an outperform rating and set a $63.00 price target (up from $50.00) on shares of Exact Sciences Corporation in a research report on Tuesday. Jefferies Group LLC upped their price target on Exact Sciences Corporation to $60.00 and gave the company a buy rating in a research report on Tuesday. Bank of America Corporation set a $56.00 price target on Exact Sciences Corporation and gave the company a buy rating in a research report on Thursday, October 19th. Finally, Robert W. Baird reissued a buy rating and set a $49.00 price target on shares of Exact Sciences Corporation in a research report on Friday, October 6th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $49.71.
Shares of Exact Sciences Corporation (NASDAQ:EXAS) traded down 3.9833% during mid-day trading on Tuesday, reaching $52.7996. The company’s stock had a trading volume of 2,024,255 shares. The company’s market capitalization is $6.29 billion. The firm’s 50 day moving average is $47.06 and its 200-day moving average is $38.47. Exact Sciences Corporation has a 52-week low of $13.05 and a 52-week high of $57.95.
Exact Sciences Corporation (NASDAQ:EXAS) last posted its quarterly 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. The firm had revenue of $72.60 million for the quarter, compared to analyst estimates of $65.03 million. Exact Sciences Corporation had a negative return on equity of 32.85% and a negative net margin of 60.71%. Exact Sciences Corporation’s quarterly revenue was up 158.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.36) earnings per share. Analysts forecast that Exact Sciences Corporation will post ($1.17) EPS for the current year.
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In other news, SVP D Scott Coward sold 29,115 shares of the company’s stock in a transaction dated 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 completion of the sale, the senior vice president now owns 64,991 shares in the company, valued at approximately $3,064,975.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas D. Carey purchased 2,500 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were bought at an average price of $37.71 per share, with a total value of $94,275.00. Following the purchase, the director now owns 60,858 shares in the company, valued at approximately $2,294,955.18. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 231,598 shares of company stock valued at $10,182,030. 4.00% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in EXAS. BlackRock Inc. boosted its stake in shares of Exact Sciences Corporation by 45,816.0% during the 1st quarter. BlackRock Inc. now owns 6,804,297 shares of the medical research company’s stock worth $160,718,000 after acquiring an additional 6,789,478 shares in the last quarter. Fred Alger Management Inc. bought a new stake in shares of Exact Sciences Corporation during the 2nd quarter worth about $84,177,000. Lord Abbett & CO. LLC boosted its stake in shares of Exact Sciences Corporation by 59.1% during the 2nd quarter. Lord Abbett & CO. LLC now owns 2,356,706 shares of the medical research company’s stock worth $83,357,000 after acquiring an additional 875,527 shares in the last quarter. Victory Capital Management Inc. bought a new stake in shares of Exact Sciences Corporation during the 2nd quarter worth about $29,450,000. Finally, Vanguard Group Inc. boosted its stake in shares of Exact Sciences Corporation by 8.0% during the 2nd quarter. Vanguard Group Inc. now owns 9,459,679 shares of the medical research company’s stock worth $334,589,000 after acquiring an additional 700,051 shares in the last quarter. Institutional investors 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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