EXACT Sciences (NASDAQ:EXAS) Downgraded to Hold at ValuEngine

EXACT Sciences (NASDAQ:EXAS) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Tuesday, ValuEngine reports.

EXAS has been the subject of several other reports. Benchmark raised shares of EXACT Sciences from a “hold” rating to a “buy” rating and set a $130.00 price target for the company in a report on Monday, September 23rd. Leerink Swann cut their price target on shares of EXACT Sciences from $133.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Zacks Investment Research raised shares of EXACT Sciences from a “hold” rating to a “buy” rating and set a $109.00 target price for the company in a research note on Thursday, October 17th. Stifel Nicolaus assumed coverage on shares of EXACT Sciences in a research note on Thursday, November 14th. They issued a “buy” rating and a $110.00 target price for the company. Finally, William Blair reaffirmed a “buy” rating on shares of EXACT Sciences in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $122.57.

Shares of EXAS stock opened at $80.98 on Tuesday. EXACT Sciences has a 12-month low of $53.06 and a 12-month high of $123.99. The company has a market capitalization of $10.52 billion, a P/E ratio of -59.54 and a beta of 1.32. The firm has a 50-day moving average price of $86.15 and a 200 day moving average price of $103.79. The company has a quick ratio of 2.63, a current ratio of 2.75 and a debt-to-equity ratio of 0.67.

EXACT Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Tuesday, October 29th. The medical research company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.10. EXACT Sciences had a negative net margin of 29.83% and a negative return on equity of 29.06%. The firm had revenue of $218.81 million during the quarter, compared to the consensus estimate of $216.14 million. During the same period last year, the firm posted ($0.37) EPS. The firm’s quarterly revenue was up 85.0% on a year-over-year basis. As a group, research analysts expect that EXACT Sciences will post -1.62 earnings per share for the current year.

In other news, insider G Bradley Cole sold 28,016 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $80.38, for a total value of $2,251,926.08. Following the sale, the insider now owns 30,987 shares of the company’s stock, valued at $2,490,735.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Scott C. Johnson sold 3,527 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $108.63, for a total transaction of $383,138.01. Following the sale, the senior vice president now directly owns 7,934 shares in the company, valued at $861,870.42. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of EXAS. NEXT Financial Group Inc bought a new stake in EXACT Sciences during the second quarter worth $50,000. AE Wealth Management LLC raised its position in EXACT Sciences by 6.8% during the second quarter. AE Wealth Management LLC now owns 6,705 shares of the medical research company’s stock worth $791,000 after acquiring an additional 424 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in EXACT Sciences during the second quarter worth $561,000. Zeke Capital Advisors LLC bought a new stake in EXACT Sciences during the second quarter worth $585,000. Finally, Mn Services Vermogensbeheer B.V. bought a new stake in EXACT Sciences during the second quarter worth $2,550,000. 86.59% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for EXACT Sciences (NASDAQ:EXAS)

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