Exact Sciences Corporation (NASDAQ:EXAS) had its price objective hoisted by Roth Capital from $40.00 to $46.00 in a research note released on Wednesday, July 26th. Roth Capital currently has a buy rating on the medical research company’s stock.
Several other equities analysts also recently issued reports on the company. Bank of America Corporation reiterated a buy rating on shares of Exact Sciences Corporation in a research report on Wednesday, March 29th. Vetr downgraded Exact Sciences Corporation from a hold rating to a sell rating and set a $34.70 price objective for the company. in a research report on Wednesday, July 12th. Cowen and Company boosted their price objective on Exact Sciences Corporation from $30.00 to $40.00 and gave the stock an outperform rating in a research report on Thursday, April 27th. Benchmark Co. set a $50.00 price objective on Exact Sciences Corporation and gave the stock a buy rating in a research report on Friday, July 7th. Finally, BidaskClub upgraded Exact Sciences Corporation from a hold rating to a buy rating in a research report on Thursday, June 22nd. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $40.51.
Exact Sciences Corporation (EXAS) traded down 2.40% during mid-day trading on Wednesday, hitting $38.26. The stock had a trading volume of 919,550 shares. The stock’s market cap is $4.56 billion. Exact Sciences Corporation has a 12-month low of $13.05 and a 12-month high of $42.18. The company has a 50-day moving average of $37.04 and a 200-day moving average of $28.12.
Exact Sciences Corporation (NASDAQ:EXAS) last issued its quarterly earnings data on Tuesday, July 25th. The medical research company reported ($0.27) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.10. The business had revenue of $57.65 million during the quarter, compared to the consensus estimate of $47.73 million. Exact Sciences Corporation had a negative return on equity of 36.36% and a negative net margin of 83.08%. On average, analysts anticipate that Exact Sciences Corporation will post ($1.18) earnings per share for the current fiscal year.
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In other news, SVP D Scott Coward sold 1,987 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $35.21, for a total transaction of $69,962.27. Following the completion of the sale, the senior vice president now owns 57,603 shares in the company, valued at approximately $2,028,201.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jeffrey Thomas Elliott sold 5,846 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $39.41, for a total value of $230,390.86. Following the sale, the chief financial officer now owns 19,861 shares of the company’s stock, valued at approximately $782,722.01. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Exact Sciences Corporation by 6.4% in the first quarter. Vanguard Group Inc. now owns 8,759,628 shares of the medical research company’s stock worth $206,903,000 after buying an additional 528,352 shares during the period. BlackRock Inc. increased its stake in shares of Exact Sciences Corporation by 45,816.0% in the first quarter. BlackRock Inc. now owns 6,804,297 shares of the medical research company’s stock worth $160,718,000 after buying an additional 6,789,478 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Exact Sciences Corporation by 98.1% in the first quarter. JPMorgan Chase & Co. now owns 4,985,657 shares of the medical research company’s stock valued at $117,761,000 after buying an additional 2,468,376 shares during the period. OppenheimerFunds Inc. increased its stake in shares of Exact Sciences Corporation by 66.8% in the first quarter. OppenheimerFunds Inc. now owns 2,502,398 shares of the medical research company’s stock valued at $59,107,000 after buying an additional 1,002,398 shares during the period. Finally, Point72 Asset Management L.P. increased its stake in shares of Exact Sciences Corporation by 1,534.3% in the first quarter. Point72 Asset Management L.P. now owns 2,500,476 shares of the medical research company’s stock valued at $59,061,000 after buying an additional 2,347,476 shares during the period. Institutional investors own 84.86% of the company’s stock.
Exact Sciences Corporation 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.
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