EXACT Sciences (EXAS) Shares Gap Down to $55.06

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.

EXACT Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Monday, October 30th. The medical research company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.07. The company had revenue of $72.60 million during the quarter, compared to the consensus estimate of $65.03 million. EXACT Sciences had a negative return on equity of 30.32% and a negative net margin of 60.71%. The firm’s revenue for the quarter was up 158.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.36) EPS. sell-side analysts anticipate that EXACT Sciences Co. will post -1.09 EPS for the current year.

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.

WARNING: This piece was first reported by Community Financial News and is owned by of Community Financial News. If you are reading this piece on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark legislation. The correct version of this piece can be accessed at https://www.com-unik.info/2018/01/17/exact-sciences-exas-shares-gap-down-to-55-06.html.

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.

What are top analysts saying about EXACT Sciences? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for EXACT Sciences and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit