Zacks: Brokerages Expect EXACT Sciences Co. (EXAS) Will Post Quarterly Sales of $127.32 Million

Wall Street analysts expect that EXACT Sciences Co. (NASDAQ:EXAS) will report $127.32 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for EXACT Sciences’ earnings, with the lowest sales estimate coming in at $125.90 million and the highest estimate coming in at $129.14 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 report on Thursday, February 28th.

On average, analysts expect that EXACT Sciences will report full year sales of $438.79 million for the current fiscal year, with estimates ranging from $437.40 million to $440.62 million. For the next financial year, analysts forecast that the company will post sales of $705.21 million, with estimates ranging from $701.40 million to $709.90 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for EXACT Sciences.

EXACT Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Tuesday, October 30th. The medical research company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $118.29 million for the quarter, compared to analysts’ expectations of $109.33 million. During the same quarter in the previous year, the company earned ($0.23) earnings per share. The company’s revenue for the quarter was up 63.0% compared to the same quarter last year.

A number of equities analysts have issued reports on the stock. Benchmark restated a “hold” rating on shares of EXACT Sciences in a research report on Wednesday, September 5th. Cowen boosted their price objective 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. BidaskClub upgraded shares of EXACT Sciences from a “sell” rating to a “hold” rating in a research report on Friday, August 24th. Craig Hallum boosted their price objective on shares of EXACT Sciences from $54.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, August 23rd. Finally, Zacks Investment Research upgraded shares of EXACT Sciences from a “sell” rating to a “hold” rating in a research report on Tuesday, August 21st. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. EXACT Sciences has an average rating of “Buy” and a consensus price target of $84.08.

In related news, insider D Scott Coward sold 2,190 shares of the business’s stock in a transaction dated 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 legal filing with the SEC, which is accessible through this link. Also, Director Michael S. Wyzga sold 2,468 shares of the business’s stock in a transaction dated 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 owns 9,112 shares in the company, valued at approximately $682,033.20. The disclosure for this sale can be found here. Insiders have sold 389,436 shares of company stock worth $27,603,229 in the last quarter. 3.20% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. First Republic Investment Management Inc. bought a new stake in EXACT Sciences during the third quarter worth about $204,000. Fulton Bank N.A. bought a new stake in EXACT Sciences during the third quarter worth about $208,000. Crossmark Global Holdings Inc. bought a new stake in EXACT Sciences during the third quarter worth about $220,000. Mogy Joel R Investment Counsel Inc. bought a new stake in EXACT Sciences during the third quarter worth about $221,000. Finally, GWM Advisors LLC bought a new stake in EXACT Sciences during the third quarter worth about $223,000. 89.70% of the stock is currently owned by institutional investors and hedge funds.

EXAS stock opened at $67.06 on Friday. EXACT Sciences has a 12-month low of $37.36 and a 12-month high of $81.22. The stock has a market capitalization of $8.18 billion, a price-to-earnings ratio of -67.74 and a beta of 1.21. The company has a debt-to-equity ratio of 0.94, a quick ratio of 11.72 and a current ratio of 12.08.

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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Earnings History and Estimates for EXACT Sciences (NASDAQ:EXAS)

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