EXACT Sciences Co. (EXAS) Given Average Rating of “Buy” by Brokerages

Shares of EXACT Sciences Co. (NASDAQ:EXAS) have received a consensus rating of “Buy” from the sixteen analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, twelve have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $99.70.

A number of equities analysts recently weighed in on EXAS shares. Canaccord Genuity lifted their price objective on shares of EXACT Sciences from $87.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, January 14th. Zacks Investment Research lowered shares of EXACT Sciences from a “buy” rating to a “hold” rating in a research report on Wednesday, February 13th. William Blair reiterated an “outperform” rating on shares of EXACT Sciences in a research report on Monday, January 7th. Robert W. Baird lifted their price objective on shares of EXACT Sciences from $90.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, February 21st. Finally, BTIG Research lifted their price objective on shares of EXACT Sciences to $110.00 and gave the company a “positive” rating in a research report on Friday, February 22nd.

Shares of EXAS traded down $0.95 during mid-day trading on Friday, reaching $95.20. 1,711,805 shares of the company’s stock were exchanged, compared to its average volume of 1,861,518. The company has a current ratio of 8.99, a quick ratio of 8.70 and a debt-to-equity ratio of 1.02. The firm has a market cap of $11.97 billion, a PE ratio of -70.00 and a beta of 1.85. EXACT Sciences has a 52-week low of $37.36 and a 52-week high of $97.27.

EXACT Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Thursday, February 21st. The medical research company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. EXACT Sciences had a negative net margin of 38.54% and a negative return on equity of 23.58%. The firm had revenue of $142.98 million for the quarter, compared to analyst estimates of $143.00 million. During the same period last year, the firm posted ($0.18) EPS. EXACT Sciences’s quarterly revenue was up 63.6% on a year-over-year basis. As a group, equities research analysts forecast that EXACT Sciences will post -1.98 EPS for the current fiscal year.

In other EXACT Sciences news, insider Kevin T. Conroy sold 11,227 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $87.21, for a total value of $979,106.67. Following the completion of the sale, the insider now owns 949,753 shares of the company’s stock, valued at $82,827,959.13. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kevin T. Conroy sold 9,169 shares of the firm’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $95.07, for a total value of $871,696.83. Following the completion of the sale, the insider now directly owns 923,961 shares of the company’s stock, valued at approximately $87,840,972.27. The disclosure for this sale can be found here. In the last three months, insiders sold 445,896 shares of company stock valued at $36,518,057. 3.20% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. Karp Capital Management Corp acquired a new position in shares of EXACT Sciences during the 4th quarter worth $38,000. CWM LLC raised its stake in shares of EXACT Sciences by 777.1% during the 4th quarter. CWM LLC now owns 614 shares of the medical research company’s stock worth $39,000 after buying an additional 544 shares during the last quarter. Hanson McClain Inc. raised its stake in shares of EXACT Sciences by 377.5% during the 4th quarter. Hanson McClain Inc. now owns 955 shares of the medical research company’s stock worth $60,000 after buying an additional 755 shares during the last quarter. Tortoise Investment Management LLC acquired a new position in shares of EXACT Sciences during the 4th quarter worth $62,000. Finally, Phocas Financial Corp. acquired a new position in shares of EXACT Sciences during the 4th quarter worth $95,000. 91.08% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading: What is the price-to-earnings growth (PEG) ratio?

Analyst Recommendations for EXACT Sciences (NASDAQ:EXAS)

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