Daiwa Securities Group Inc. lifted its stake in shares of EXACT Sciences Co. (NASDAQ:EXAS) by 14.0% during the third quarter, Holdings Channel.com reports. The firm owned 5,421 shares of the medical research company’s stock after acquiring an additional 666 shares during the period. Daiwa Securities Group Inc.’s holdings in EXACT Sciences were worth $490,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of EXAS. DNB Asset Management AS bought a new stake in shares of EXACT Sciences during the second quarter valued at about $1,505,000. EFG Asset Management Americas Corp. grew its holdings in EXACT Sciences by 13.7% during the second quarter. EFG Asset Management Americas Corp. now owns 26,234 shares of the medical research company’s stock worth $3,097,000 after acquiring an additional 3,156 shares during the period. Zions Bancorporation N.A. grew its holdings in EXACT Sciences by 10.2% during the second quarter. Zions Bancorporation N.A. now owns 2,746 shares of the medical research company’s stock worth $325,000 after acquiring an additional 254 shares during the period. Gulf International Bank UK Ltd acquired a new position in EXACT Sciences during the second quarter worth about $3,783,000. Finally, Grassi Investment Management acquired a new position in EXACT Sciences during the second quarter worth about $502,000. Institutional investors and hedge funds own 86.23% of the company’s stock.
A number of research analysts recently issued reports on the company. BidaskClub lowered EXACT Sciences from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Craig Hallum lifted their target price on EXACT Sciences from $115.00 to $127.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Jefferies Financial Group lowered their target price on EXACT Sciences from $138.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Stifel Nicolaus assumed coverage on EXACT Sciences in a report on Thursday. They set a “buy” rating on the stock. Finally, Zacks Investment Research raised EXACT Sciences from a “hold” rating to a “buy” rating and set a $109.00 target price on the stock in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $124.69.
Shares of EXAS opened at $79.24 on Friday. The business’s 50-day moving average price is $90.18 and its 200 day moving average price is $105.36. The stock has a market capitalization of $10.46 billion, a P/E ratio of -58.26 and a beta of 1.37. EXACT Sciences Co. has a 1-year low of $53.06 and a 1-year high of $123.99. The company has a current ratio of 2.75, a quick ratio of 2.63 and a debt-to-equity ratio of 0.67.
EXACT Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Tuesday, October 29th. The medical research company reported ($0.31) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.41) by $0.10. The firm had revenue of $218.81 million for the quarter, compared to analysts’ expectations of $216.14 million. EXACT Sciences had a negative return on equity of 29.06% and a negative net margin of 29.83%. EXACT Sciences’s revenue was up 85.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.37) EPS. On average, research analysts predict that EXACT Sciences Co. will post -1.62 earnings per share for the current year.
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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