Brokerages Expect EXACT Sciences Co. (EXAS) Will Announce Earnings of -$0.50 Per Share

Equities research analysts forecast that EXACT Sciences Co. (NASDAQ:EXAS) will announce ($0.50) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for EXACT Sciences’ earnings, with estimates ranging from ($0.52) to ($0.48). EXACT Sciences reported earnings of ($0.18) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 177.8%. The company is expected to report its next earnings results on Thursday, February 28th.

According to Zacks, analysts expect that EXACT Sciences will report full-year earnings of ($1.53) per share for the current year, with EPS estimates ranging from ($1.65) to ($1.48). For the next year, analysts anticipate that the firm will report earnings of ($1.25) per share, with EPS estimates ranging from ($1.63) to ($0.68). Zacks’ EPS averages are an average based on a survey of analysts that follow EXACT Sciences.

EXACT Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Tuesday, October 30th. The medical research company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.05. EXACT Sciences had a negative net margin of 35.83% and a negative return on equity of 20.18%. The business had revenue of $118.29 million during the quarter, compared to the consensus estimate of $109.33 million. During the same period in the previous year, the business earned ($0.23) earnings per share. The company’s revenue was up 63.0% on a year-over-year basis.

EXAS has been the subject of several research analyst reports. 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 objective for the company. Cowen upped their price target on shares of EXACT Sciences from $65.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, September 5th. Bank of America upped their price target on shares of EXACT Sciences from $68.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, September 6th. BidaskClub downgraded shares of EXACT Sciences from a “buy” rating to a “hold” rating in a report on Friday, September 14th. Finally, Robert W. Baird upped their price target on shares of EXACT Sciences from $74.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, September 11th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. EXACT Sciences currently has a consensus rating of “Buy” and a consensus price target of $84.08.

In other news, insider D Scott Coward sold 2,190 shares of the company’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $79.51, for a total transaction of $174,126.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael S. Wyzga sold 2,468 shares of the company’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $74.85, for a total transaction of $184,729.80. Following the transaction, the director now owns 9,112 shares of the company’s stock, valued at $682,033.20. The disclosure for this sale can be found here. Insiders have sold 142,331 shares of company stock valued at $10,096,681 over the last quarter. Company insiders own 3.20% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Biondo Investment Advisors LLC grew its stake in shares of EXACT Sciences by 37.6% in the third quarter. Biondo Investment Advisors LLC now owns 153,710 shares of the medical research company’s stock worth $12,131,000 after purchasing an additional 41,965 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of EXACT Sciences by 11.5% in the third quarter. Commonwealth Equity Services LLC now owns 21,273 shares of the medical research company’s stock worth $1,678,000 after purchasing an additional 2,193 shares during the last quarter. Chicago Partners Investment Group LLC grew its stake in shares of EXACT Sciences by 47.6% in the third quarter. Chicago Partners Investment Group LLC now owns 3,100 shares of the medical research company’s stock worth $191,000 after purchasing an additional 1,000 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of EXACT Sciences in the third quarter worth $426,000. Finally, Mogy Joel R Investment Counsel Inc. bought a new stake in shares of EXACT Sciences in the third quarter worth $221,000. 87.06% of the stock is currently owned by institutional investors.

EXAS traded up $1.26 during trading on Wednesday, hitting $75.48. 1,456,400 shares of the stock traded hands, compared to its average volume of 2,469,468. EXACT Sciences has a twelve month low of $37.36 and a twelve month high of $81.22. The company has a market cap of $9.12 billion, a P/E ratio of -76.24 and a beta of 1.21. The company has a debt-to-equity ratio of 0.94, a current ratio of 12.08 and a quick ratio of 11.72.

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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