Exact Sciences Corporation (EXAS) Reaches New 12-Month High at $58.00

Shares of Exact Sciences Corporation (NASDAQ:EXAS) reached a new 52-week high during trading on Monday . The company traded as high as $58.00 and last traded at $58.02, with a volume of 1498823 shares trading hands. The stock had previously closed at $56.71.

A number of analysts have commented on EXAS shares. Canaccord Genuity reiterated a “buy” rating and issued a $42.00 price objective (up previously from $38.00) on shares of Exact Sciences Corporation in a report on Thursday, July 20th. BTIG Research reiterated a “buy” rating and issued a $45.00 price objective (up previously from $35.00) on shares of Exact Sciences Corporation in a report on Monday, July 17th. Leerink Swann set a $45.00 price objective on shares of Exact Sciences Corporation and gave the company a “buy” rating in a report on Thursday, August 24th. Vetr upgraded shares of Exact Sciences Corporation from a “sell” rating to a “buy” rating and set a $41.07 price objective for the company in a report on Wednesday, August 2nd. Finally, Bank of America Corporation reiterated a “buy” rating on shares of Exact Sciences Corporation in a report on Wednesday, July 26th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $49.71.

The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.98 and a current ratio of 10.34.

Exact Sciences Corporation (NASDAQ:EXAS) last released its earnings results on Monday, October 30th. The medical research company reported ($0.23) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.07. The company had revenue of $72.60 million for 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 firm’s quarterly revenue was up 158.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.36) EPS. analysts predict that Exact Sciences Corporation will post -1.14 EPS for the current year.

In other Exact Sciences Corporation news, SVP D Scott Coward sold 29,115 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $47.16, for a total transaction of $1,373,063.40. Following the sale, the senior vice president now directly owns 64,991 shares in the company, valued at approximately $3,064,975.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Graham Peter Lidgard sold 45,775 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $53.60, for a total transaction of $2,453,540.00. Following the sale, the insider now owns 272,819 shares in the company, valued at $14,623,098.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 277,373 shares of company stock worth $12,635,570. 4.00% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Advisor Group Inc. raised its holdings in shares of Exact Sciences Corporation by 0.8% in the 2nd quarter. Advisor Group Inc. now owns 7,866 shares of the medical research company’s stock valued at $270,000 after purchasing an additional 65 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of Exact Sciences Corporation by 3.0% in the 1st 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. raised its holdings in shares of Exact Sciences Corporation by 5.6% in the 2nd 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. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Exact Sciences Corporation by 17.3% in the 2nd 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. Finally, Lincoln National Corp raised its holdings in shares of Exact Sciences Corporation by 7.8% in the 2nd quarter. Lincoln National Corp now owns 10,104 shares of the medical research company’s stock valued at $357,000 after purchasing an additional 728 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

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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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