Exact Sciences (NASDAQ:EXAS) Releases Quarterly Earnings Results, Beats Expectations By $0.28 EPS

Exact Sciences (NASDAQ:EXAS) issued its quarterly earnings results on Wednesday. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.28, Briefing.com reports. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The company had revenue of $699.26 million during the quarter, compared to analyst estimates of $690.02 million. During the same quarter last year, the business posted ($0.45) EPS. Exact Sciences’s quarterly revenue was up 12.4% compared to the same quarter last year.

Exact Sciences Stock Down 1.0 %

NASDAQ:EXAS traded down $0.56 during midday trading on Friday, hitting $57.35. The company had a trading volume of 5,207,736 shares, compared to its average volume of 3,104,698. Exact Sciences has a 52-week low of $40.62 and a 52-week high of $88.62. The stock’s fifty day moving average price is $45.38 and its 200-day moving average price is $56.16. The company has a quick ratio of 1.45, a current ratio of 2.17 and a debt-to-equity ratio of 0.73.

Analysts Set New Price Targets

EXAS has been the subject of several research analyst reports. The Goldman Sachs Group decreased their price target on shares of Exact Sciences from $88.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Canaccord Genuity Group lowered their target price on shares of Exact Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Scotiabank assumed coverage on shares of Exact Sciences in a report on Thursday, June 27th. They set a “sector outperform” rating and a $70.00 target price on the stock. Citigroup lowered their target price on shares of Exact Sciences from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Finally, Jefferies Financial Group assumed coverage on shares of Exact Sciences in a report on Monday, June 3rd. They set a “buy” rating and a $75.00 target price on the stock. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $78.77.

Exact Sciences Company Profile

Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX Breast Recurrence Score Test; Oncotype DX Breast DCIS Score Test; Oncotype DX Colon Recurrence Score Test; OncoExTra Test for tumor profiling for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer; and Covid-19 testing services.