EXACT Sciences Co. (NASDAQ:EXAS)’s share price gapped down prior to trading on Monday . The stock had previously closed at $57.88, but opened at $55.06. EXACT Sciences shares last traded at $52.62, with a volume of 6362398 shares trading hands.
Several brokerages recently issued reports on EXAS. Zacks Investment Research upgraded EXACT Sciences from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research report on Tuesday. William Blair reiterated a “buy” rating on shares of EXACT Sciences in a research report on Wednesday, January 10th. Benchmark reiterated a “buy” rating and issued a $60.00 price objective (up from $50.00) on shares of EXACT Sciences in a research report on Tuesday, October 31st. Leerink Swann reiterated an “outperform” rating and issued a $50.00 price objective (up from $45.00) on shares of EXACT Sciences in a research report on Thursday, September 21st. Finally, BidaskClub raised EXACT Sciences from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $51.31.
The firm has a market cap of $6,340.00, a price-to-earnings ratio of -46.04 and a beta of 0.68. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.98 and a current ratio of 10.34.
In related news, SVP D Scott Coward sold 1,665 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $52.54, for a total value of $87,479.10. Following the sale, the senior vice president now owns 37,558 shares in the company, valued at approximately $1,973,297.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kevin T. Conroy sold 137,805 shares of the stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $59.14, for a total value of $8,149,787.70. Following the completion of the sale, the chief executive officer now owns 967,867 shares in the company, valued at approximately $57,239,654.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 610,433 shares of company stock worth $34,341,306. 4.00% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in EXACT Sciences by 8.0% in 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 acquiring an additional 700,051 shares during the period. BlackRock Inc. raised its stake in EXACT Sciences by 1.2% in the 2nd quarter. BlackRock Inc. now owns 6,884,886 shares of the medical research company’s stock valued at $243,518,000 after acquiring an additional 80,589 shares during the period. Fred Alger Management Inc. bought a new stake in EXACT Sciences in the 2nd quarter valued at $84,177,000. Lord Abbett & CO. LLC raised its stake in EXACT Sciences by 59.1% in 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 acquiring an additional 875,527 shares during the period. Finally, FMR LLC raised its stake in EXACT Sciences by 32.7% in the 2nd quarter. FMR LLC now owns 2,318,269 shares of the medical research company’s stock valued at $81,997,000 after acquiring an additional 571,796 shares during the period. Institutional investors and hedge funds own 82.39% of the company’s stock.
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EXACT Sciences 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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