EXACT Sciences (NASDAQ:EXAS) Given “Buy” Rating at Canaccord Genuity

Canaccord Genuity reaffirmed their buy rating on shares of EXACT Sciences (NASDAQ:EXAS) in a research report released on Wednesday, The Fly reports. They currently have a $125.00 target price on the medical research company’s stock, up from their previous target price of $118.00.

“We reiterate EXAS as a top pick for 2019 and we raise our PT to $125. Is EXAS still a start-up? We don’t often ascribe $15B companies as “start-ups,” but given its sub-5% penetration rate on just one product, management, vision, and momentum building in Madison (energized with the new opening of lab which expands its capacity by 133% to 7M tests/year), we believe EXAS is just getting started. Pfizer has been a “home run” so far – we expect momentum to accelerate. Management indicated that its three-year partnership with Pfizer has been a “home run” so far. Pfizer reps (particularly the OBGYN reps who were just trained in Jan ’19) aren’t fully ramped yet. Add to this that Pfizer’s Lyrica went off patent two weeks ago, there is good reason to think that the best days working with PFE have not been realized yet.”,” the firm’s analyst wrote.

A number of other equities analysts also recently commented on EXAS. BidaskClub downgraded shares of Ames National from a hold rating to a sell rating in a report on Wednesday. Jefferies Financial Group lifted their price objective on shares of EXACT Sciences from $100.00 to $115.00 and gave the stock a buy rating in a report on Wednesday, May 1st. BTIG Research lifted their price objective on shares of Apple to $234.00 and gave the stock a buy rating in a report on Wednesday, May 1st. UBS Group downgraded shares of Advanced Disposal Services from a buy rating to a neutral rating and set a $33.00 price objective for the company. in a report on Wednesday, May 1st. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of Flagstar Bancorp from a hold rating to a buy rating and set a $38.00 price objective for the company in a report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $109.82.

EXACT Sciences stock opened at $114.88 on Wednesday. The firm has a market capitalization of $14.84 billion, a P/E ratio of -84.47 and a beta of 1.64. The stock has a fifty day simple moving average of $113.12. The company has a current ratio of 8.39, a quick ratio of 8.13 and a debt-to-equity ratio of 1.02. EXACT Sciences has a 12 month low of $47.78 and a 12 month high of $121.98.

EXACT Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Tuesday, April 30th. The medical research company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.01). The business had revenue of $162.00 million during the quarter, compared to analyst estimates of $153.07 million. EXACT Sciences had a negative return on equity of 28.83% and a negative net margin of 41.58%. The business’s revenue for the quarter was up 79.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.33) EPS. On average, research analysts predict that EXACT Sciences will post -2.2 EPS for the current year.

Hedge funds have recently bought and sold shares of the business. First Hawaiian Bank lifted its stake in EXACT Sciences by 160.0% in the first quarter. First Hawaiian Bank now owns 325 shares of the medical research company’s stock valued at $28,000 after buying an additional 200 shares during the last quarter. Buffington Mohr McNeal bought a new stake in EXACT Sciences in the first quarter valued at $30,000. Mosaic Family Wealth LLC bought a new stake in EXACT Sciences in the first quarter valued at $37,000. NEXT Financial Group Inc bought a new stake in EXACT Sciences in the second quarter valued at $50,000. Finally, Shine Investment Advisory Services Inc. lifted its stake in EXACT Sciences by 130.2% in the first quarter. Shine Investment Advisory Services Inc. now owns 442 shares of the medical research company’s stock valued at $38,000 after buying an additional 250 shares during the last quarter. Institutional investors own 86.65% of the company’s stock.

About EXACT Sciences

Exact Sciences Corporation, a molecular diagnostics company, focuses on developing products for the early detection and prevention of various cancers in the United States. The company offers Cologuard, a non-invasive stool-based DNA screening test for the early detection of colorectal cancer and pre-cancer.

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The Fly

Analyst Recommendations for EXACT Sciences (NASDAQ:EXAS)

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