Leerink Swann Reaffirms Outperform Rating for EXACT Sciences (EXAS)

Leerink Swann restated their outperform rating on shares of EXACT Sciences (NASDAQ:EXAS) in a research report report published on Monday, November 13th, The Fly reports. The firm currently has a $67.00 target price on the medical research company’s stock, up from their previous target price of $63.00.

Several other research analysts have also recently weighed in on EXAS. BTIG Research reissued a buy rating and set a $45.00 price objective (up from $35.00) on shares of EXACT Sciences in a report on Monday, July 17th. Canaccord Genuity reaffirmed a buy rating and set a $42.00 target price (up from $38.00) on shares of EXACT Sciences in a report on Thursday, July 20th. Vetr raised shares of EXACT Sciences from a sell rating to a hold rating and set a $36.55 target price for the company in a report on Tuesday, July 25th. Lake Street Capital increased their price objective on shares of EXACT Sciences from $30.00 to $41.00 and gave the company a hold rating in a research report on Wednesday, July 26th. Finally, Craig Hallum reiterated a buy rating and set a $46.00 price objective (up previously from $41.00) on shares of EXACT Sciences in a research report on Wednesday, July 26th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $50.58.

EXACT Sciences (NASDAQ EXAS) opened at $57.95 on Monday. The company has a current ratio of 10.34, a quick ratio of 9.98 and a debt-to-equity ratio of 0.01. EXACT Sciences has a 52 week low of $13.05 and a 52 week high of $63.60.

EXACT Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Monday, October 30th. The medical research company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.07. EXACT Sciences had a negative net margin of 60.71% and a negative return on equity of 30.32%. The firm had revenue of $72.60 million during the quarter, compared to analysts’ expectations of $65.03 million. During the same period in the previous year, the company earned ($0.36) earnings per share. The firm’s quarterly revenue was up 158.4% on a year-over-year basis. equities analysts forecast that EXACT Sciences will post -1.12 EPS for the current year.

In related news, insider Graham Peter Lidgard sold 75,683 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $40.81, for a total value of $3,088,623.23. Following the transaction, the insider now owns 308,377 shares of the company’s stock, valued at approximately $12,584,865.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP D Scott Coward sold 29,115 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $47.16, for a total transaction of $1,373,063.40. Following the completion of the transaction, the senior vice president now directly owns 64,991 shares in the company, valued at approximately $3,064,975.56. The disclosure for this sale can be found here. In the last three months, insiders sold 503,460 shares of company stock worth $26,862,545. Insiders own 4.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio increased its position in EXACT Sciences by 69.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 122,201 shares of the medical research company’s stock valued at $5,758,000 after purchasing an additional 50,185 shares during the period. Piedmont Investment Advisors LLC bought a new stake in shares of EXACT Sciences in the 3rd quarter valued at about $514,000. California Public Employees Retirement System boosted its holdings in shares of EXACT Sciences by 2.8% in the 3rd quarter. California Public Employees Retirement System now owns 190,338 shares of the medical research company’s stock valued at $8,969,000 after buying an additional 5,238 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of EXACT Sciences by 117.9% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,730 shares of the medical research company’s stock valued at $327,000 after buying an additional 3,642 shares in the last quarter. Finally, AlphaStar Capital Management LLC bought a new stake in shares of EXACT Sciences in the 3rd quarter valued at about $322,000. 82.35% of the stock is currently owned by institutional investors and hedge funds.

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EXACT Sciences 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.

The Fly

Analyst Recommendations for EXACT Sciences (NASDAQ:EXAS)

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