$127.32 Million in Sales Expected for EXACT Sciences Co. (EXAS) This Quarter

Equities analysts predict that EXACT Sciences Co. (NASDAQ:EXAS) will post sales of $127.32 million for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for EXACT Sciences’ earnings, with the highest sales estimate coming in at $129.14 million and the lowest estimate coming in at $125.90 million. EXACT Sciences reported sales of $87.41 million during the same quarter last year, which indicates a positive year-over-year growth rate of 45.7%. The business is scheduled to issue its next quarterly earnings results on Thursday, February 28th.

On average, analysts expect that EXACT Sciences will report full year sales of $438.79 million for the current financial year, with estimates ranging from $437.40 million to $440.62 million. For the next fiscal year, analysts anticipate that the company will report sales of $705.21 million, with estimates ranging from $701.40 million to $709.90 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow EXACT Sciences.

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

Several research analysts have issued reports on the company. Cowen upped their price target on EXACT Sciences from $65.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, September 5th. Goldman Sachs Group upped their price target on EXACT Sciences to $75.00 and gave the company a “neutral” rating in a report on Thursday, August 30th. BidaskClub cut EXACT Sciences from a “hold” rating to a “sell” rating in a report on Thursday, October 11th. TheStreet raised EXACT Sciences from a “d” rating to a “c-” rating in a report on Tuesday. Finally, Canaccord Genuity upped their price target on EXACT Sciences from $72.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, September 12th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $84.08.

In other EXACT Sciences news, Director Michael S. Wyzga sold 2,468 shares of EXACT Sciences stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $74.85, for a total transaction of $184,729.80. Following the transaction, the director now directly owns 9,112 shares in the company, valued at approximately $682,033.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider D Scott Coward sold 2,190 shares of EXACT Sciences stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $79.51, for a total transaction of $174,126.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 218,255 shares of company stock worth $15,791,740. Corporate insiders own 3.20% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cornerstone Wealth Management LLC purchased a new position in shares of EXACT Sciences during the 2nd quarter valued at $182,000. Chicago Partners Investment Group LLC grew its holdings in shares of EXACT Sciences by 47.6% during 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 acquiring an additional 1,000 shares in the last quarter. Hartford Investment Management Co. purchased a new position in shares of EXACT Sciences during the 2nd quarter valued at $202,000. Fulton Bank N.A. purchased a new position in shares of EXACT Sciences during the 3rd quarter valued at $208,000. Finally, Alps Advisors Inc. purchased a new position in shares of EXACT Sciences during the 2nd quarter valued at $210,000. Hedge funds and other institutional investors own 87.06% of the company’s stock.

Shares of NASDAQ EXAS traded down $1.46 during trading on Friday, hitting $74.62. The company had a trading volume of 1,932,975 shares, compared to its average volume of 2,463,023. The stock has a market capitalization of $9.12 billion, a P/E ratio of -75.37 and a beta of 1.21. EXACT Sciences has a 52 week low of $37.36 and a 52 week 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.

About EXACT Sciences

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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