EXACT Sciences (NASDAQ:EXAS) had its price objective lifted by stock analysts at Jefferies Financial Group from $74.00 to $84.00 in a research note issued to investors on Wednesday, October 31st, The Fly reports. The brokerage presently has a “buy” rating on the medical research company’s stock. Jefferies Financial Group’s target price points to a potential upside of 26.18% from the company’s current price. Jefferies Financial Group also issued estimates for EXACT Sciences’ Q4 2018 earnings at ($0.50) EPS, FY2018 earnings at ($1.50) EPS, Q1 2019 earnings at ($0.49) EPS, Q2 2019 earnings at ($0.43) EPS, Q3 2019 earnings at ($0.38) EPS, Q4 2019 earnings at ($0.33) EPS, FY2019 earnings at ($1.63) EPS and FY2020 earnings at ($0.91) EPS.
Several other research analysts also recently issued reports on the stock. UBS Group initiated coverage on shares of EXACT Sciences in a research report on Tuesday, October 9th. They set a “buy” rating and a $100.00 price target on the stock. Cowen upped their target price on shares of EXACT Sciences from $65.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, September 5th. Bank of America upped their target price on shares of EXACT Sciences from $68.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, September 6th. BidaskClub downgraded shares of EXACT Sciences from a “buy” rating to a “hold” rating in a research report on Friday, September 14th. Finally, Robert W. Baird upped their target price on shares of EXACT Sciences from $74.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, September 11th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $84.08.
Shares of NASDAQ:EXAS traded up $1.84 on Wednesday, hitting $66.57. The stock had a trading volume of 1,187,513 shares, compared to its average volume of 2,055,063. EXACT Sciences has a twelve month low of $37.36 and a twelve month high of $81.22. The company has a debt-to-equity ratio of 0.94, a quick ratio of 11.72 and a current ratio of 12.08. The company has a market capitalization of $7.96 billion, a PE ratio of -67.24 and a beta of 1.21.
EXACT Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Tuesday, October 30th. The medical research company reported ($0.37) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.42) by $0.05. The business had revenue of $118.29 million for the quarter, compared to the consensus estimate of $109.33 million. EXACT Sciences had a negative net margin of 35.83% and a negative return on equity of 20.18%. The firm’s quarterly revenue was up 63.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.23) EPS. On average, analysts forecast that EXACT Sciences will post -1.5 EPS for the current year.
In other news, insider Kevin T. Conroy sold 163,514 shares of the firm’s stock in a transaction that occurred on Monday, November 12th. The shares were sold at an average price of $69.00, for a total transaction of $11,282,466.00. Following the completion of the transaction, the insider now directly owns 886,011 shares of the company’s stock, valued at approximately $61,134,759. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Katherine S. Zanotti sold 7,667 shares of the firm’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $69.00, for a total transaction of $529,023.00. Following the transaction, the director now directly owns 102,786 shares of the company’s stock, valued at $7,092,234. The disclosure for this sale can be found here. Over the last three months, insiders have sold 389,436 shares of company stock valued at $27,603,229. 3.20% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC acquired a new stake in shares of EXACT Sciences in the 2nd quarter valued at approximately $182,000. Chicago Partners Investment Group LLC boosted its holdings in shares of EXACT Sciences by 47.6% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 3,100 shares of the medical research company’s stock valued at $191,000 after buying an additional 1,000 shares during the last quarter. Hartford Investment Management Co. acquired a new stake in shares of EXACT Sciences in the 2nd quarter valued at approximately $202,000. First Republic Investment Management Inc. acquired a new stake in shares of EXACT Sciences in the 3rd quarter valued at approximately $204,000. Finally, Fulton Bank N.A. acquired a new stake in shares of EXACT Sciences in the 3rd quarter valued at approximately $208,000. 89.70% of the stock is owned by institutional investors.
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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