Zacks: Analysts Expect EXACT Sciences Co. (NASDAQ:EXAS) Will Post Quarterly Sales of $238.26 Million

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Equities research analysts expect that EXACT Sciences Co. (NASDAQ:EXAS) will report sales of $238.26 million for the current quarter, Zacks reports. Seven analysts have made estimates for EXACT Sciences’ earnings. The highest sales estimate is $296.60 million and the lowest is $225.60 million. EXACT Sciences posted sales of $142.98 million in the same quarter last year, which suggests a positive year over year growth rate of 66.6%. The firm is expected to report its next earnings report on Thursday, February 20th.

According to Zacks, analysts expect that EXACT Sciences will report full year sales of $818.82 million for the current fiscal year, with estimates ranging from $806.31 million to $877.40 million. For the next fiscal year, analysts forecast that the business will post sales of $1.64 billion, with estimates ranging from $1.59 billion to $1.68 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow EXACT Sciences.

EXACT Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Tuesday, October 29th. The medical research company reported ($0.31) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.10. The business had revenue of $218.81 million for the quarter, compared to analysts’ expectations of $216.14 million. EXACT Sciences had a negative net margin of 29.83% and a negative return on equity of 29.06%. The business’s quarterly revenue was up 85.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.37) earnings per share.

A number of analysts have commented on EXAS shares. Stifel Nicolaus started coverage on shares of EXACT Sciences in a research report on Thursday, November 14th. They set a “buy” rating and a $110.00 price target on the stock. ValuEngine raised shares of EXACT Sciences from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Canaccord Genuity cut their price target on shares of EXACT Sciences from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. BidaskClub cut shares of EXACT Sciences from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Finally, Oppenheimer started coverage on shares of EXACT Sciences in a research report on Thursday, September 26th. They set an “outperform” rating and a $130.00 price target on the stock. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $122.57.

In other news, insider G Bradley Cole sold 28,016 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $80.38, for a total transaction of $2,251,926.08. Following the transaction, the insider now owns 30,987 shares of the company’s stock, valued at approximately $2,490,735.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Scott C. Johnson sold 3,527 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $108.63, for a total transaction of $383,138.01. Following the transaction, the senior vice president now directly owns 7,934 shares in the company, valued at approximately $861,870.42. The disclosure for this sale can be found here. 2.20% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Maverick Capital Ltd. bought a new position in shares of EXACT Sciences during the 3rd quarter worth about $909,000. Metropolitan Life Insurance Co NY lifted its position in EXACT Sciences by 6.7% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 9,416 shares of the medical research company’s stock valued at $851,000 after acquiring an additional 595 shares in the last quarter. Squarepoint Ops LLC bought a new position in EXACT Sciences in the 3rd quarter valued at about $4,885,000. IHT Wealth Management LLC lifted its position in EXACT Sciences by 16.5% in the 3rd quarter. IHT Wealth Management LLC now owns 3,533 shares of the medical research company’s stock valued at $319,000 after acquiring an additional 500 shares in the last quarter. Finally, GQ Asset Management LLC bought a new position in EXACT Sciences in the 3rd quarter valued at about $107,000. 86.59% of the stock is currently owned by institutional investors.

EXAS traded down $0.54 during trading on Tuesday, reaching $81.01. 646,583 shares of the stock traded hands, compared to its average volume of 2,249,866. The company has a quick ratio of 2.63, a current ratio of 2.75 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $10.59 billion, a PE ratio of -59.57 and a beta of 1.37. The stock’s 50-day moving average is $86.82 and its 200 day moving average is $103.95. EXACT Sciences has a 12 month low of $53.06 and a 12 month high of $123.99.

EXACT Sciences Company Profile

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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