Exact Sciences (NASDAQ:EXAS) Announces Quarterly Earnings Results

Exact Sciences (NASDAQ:EXAS) issued its quarterly earnings data on Tuesday. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01), Briefing.com reports. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The business had revenue of $708.66 million for the quarter, compared to analysts’ expectations of $716.80 million. The company’s revenue was up 12.8% on a year-over-year basis. Exact Sciences updated its FY 2024 guidance to EPS.

Exact Sciences Trading Down 22.8 %

NASDAQ EXAS traded down $16.29 during trading on Wednesday, hitting $55.22. The stock had a trading volume of 12,327,513 shares, compared to its average volume of 2,574,024. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $10.20 billion, a PE ratio of -56.71 and a beta of 1.27. The firm has a 50 day moving average price of $67.27 and a 200 day moving average price of $56.67. Exact Sciences has a twelve month low of $40.62 and a twelve month high of $79.62.

Analysts Set New Price Targets

EXAS has been the subject of several recent analyst reports. Evercore ISI lowered their price target on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday. BTIG Research lowered their target price on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday. Benchmark cut their price target on shares of Exact Sciences from $67.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday. Citigroup lowered their price objective on shares of Exact Sciences from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, TD Cowen cut their target price on Exact Sciences from $90.00 to $82.00 and set a “buy” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $75.06.

Insider Transactions at Exact Sciences

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the completion of the transaction, the executive vice president now owns 12,758 shares in the company, valued at $893,060. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.36% of the company’s stock.

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.