Exact Sciences Corporation (EXAS) Price Target Raised to $56.00 at Robert W. Baird

Exact Sciences Corporation (NASDAQ:EXAS) had its target price upped by Robert W. Baird from $49.00 to $56.00 in a report released on Tuesday morning. Robert W. Baird currently has an outperform rating on the medical research company’s stock.

Several other research firms have also commented on EXAS. Jefferies Group LLC increased their price objective on shares of Exact Sciences Corporation to $60.00 and gave the company a buy rating in a research note on Tuesday. Craig Hallum increased their price objective on shares of Exact Sciences Corporation from $46.00 to $61.00 and gave the company a buy rating in a research note on Tuesday. Benchmark Co. reiterated a buy rating and issued a $60.00 price objective (up previously from $50.00) on shares of Exact Sciences Corporation in a research note on Tuesday. Leerink Swann reiterated an outperform rating and issued a $63.00 price objective (up previously from $50.00) on shares of Exact Sciences Corporation in a research note on Tuesday. Finally, Canaccord Genuity reiterated a buy rating and issued a $60.00 price objective (up previously from $45.00) on shares of Exact Sciences Corporation in a research note on Tuesday, October 3rd. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Exact Sciences Corporation presently has an average rating of Buy and a consensus target price of $49.71.

Exact Sciences Corporation (EXAS) traded up $3.70 during trading hours on Tuesday, reaching $56.71. 1,500,141 shares of the company’s stock traded hands, compared to its average volume of 1,840,000. The company has a quick ratio of 16.42, a current ratio of 10.34 and a debt-to-equity ratio of 0.01. 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 data on Monday, October 30th. The medical research company reported ($0.23) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.07. The firm had revenue of $72.60 million during the quarter, compared to analyst estimates of $65.03 million. Exact Sciences Corporation had a negative net margin of 60.71% and a negative return on equity of 30.32%. The company’s revenue for the quarter was up 158.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.36) EPS. equities analysts forecast that Exact Sciences Corporation will post -1.14 earnings per share for the current year.

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In related news, Director Thomas D. Carey acquired 2,500 shares of the stock in a transaction dated Thursday, August 17th. The shares were purchased at an average price of $37.71 per share, for a total transaction of $94,275.00. Following the transaction, the director now owns 60,858 shares in the company, valued at approximately $2,294,955.18. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Graham Peter Lidgard sold 75,683 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $40.81, for a total transaction of $3,088,623.23. Following the sale, the insider now owns 308,377 shares in the company, valued at approximately $12,584,865.37. The disclosure for this sale can be found here. Over the last three months, insiders sold 277,373 shares of company stock valued at $12,635,570. Insiders own 4.00% of the company’s stock.

Several institutional investors have recently bought and sold shares of EXAS. BlackRock Inc. raised its position 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 valued at $160,718,000 after buying an additional 6,789,478 shares in the last quarter. Fred Alger Management Inc. purchased a new stake in shares of Exact Sciences Corporation during the 2nd quarter valued at $84,177,000. Lord Abbett & CO. LLC raised its position 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 valued at $83,357,000 after buying an additional 875,527 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Exact Sciences Corporation during the 2nd quarter valued at $29,450,000. Finally, Vanguard Group Inc. raised its position 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 valued at $334,589,000 after buying an additional 700,051 shares in the last quarter. Hedge funds and other institutional investors own 85.12% of the company’s stock.

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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