Exact Sciences (NASDAQ:EXAS) Lowered to “Neutral” at Smith Barney Citigroup

Smith Barney Citigroup downgraded shares of Exact Sciences (NASDAQ:EXAS) from a buy rating to a neutral rating in a research note issued to investors on Wednesday, The Fly reports. Smith Barney Citigroup currently has $140.00 price objective on the medical research company’s stock, up from their previous price objective of $120.00.

A number of other equities research analysts have also recently commented on the company. Robert W. Baird raised their price objective on Exact Sciences from $135.00 to $150.00 and gave the company an outperform rating in a research note on Wednesday. Benchmark raised their target price on Exact Sciences from $110.00 to $145.00 and gave the company a buy rating in a report on Wednesday. Citigroup raised their target price on Exact Sciences from $110.00 to $120.00 and gave the company a buy rating in a report on Friday, July 31st. BidaskClub upgraded Exact Sciences from a strong sell rating to a sell rating in a report on Saturday, September 26th. Finally, TheStreet upgraded Exact Sciences from a d+ rating to a c rating in a report on Thursday, October 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $123.71.

Shares of Exact Sciences stock opened at $127.52 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 6.40 and a current ratio of 6.77. Exact Sciences has a 52 week low of $35.25 and a 52 week high of $141.90. The stock has a 50 day moving average price of $95.78 and a two-hundred day moving average price of $87.17. The stock has a market capitalization of $19.15 billion, a PE ratio of -120.30 and a beta of 1.46.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Saturday, October 31st. The medical research company reported ($1.46) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.51) by ($0.95). Exact Sciences had a negative net margin of 13.65% and a negative return on equity of 13.32%. The firm had revenue of $408.40 million during the quarter, compared to analyst estimates of $337.43 million. During the same period last year, the business posted ($0.31) EPS. The company’s revenue was up 86.7% on a year-over-year basis. Research analysts forecast that Exact Sciences will post -1.99 EPS for the current year.

In other news, CEO Kevin T. Conroy sold 25,198 shares of Exact Sciences stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $93.80, for a total value of $2,363,572.40. Also, Director James Edward Doyle sold 2,539 shares of Exact Sciences stock in a transaction on Friday, July 31st. The shares were sold at an average price of $94.00, for a total value of $238,666.00. Following the completion of the transaction, the director now owns 32,459 shares of the company’s stock, valued at $3,051,146. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 87,454 shares of company stock worth $7,965,444. Corporate insiders own 1.80% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Toth Financial Advisory Corp purchased a new position in shares of Exact Sciences in the second quarter valued at $26,000. First Horizon Advisors Inc. grew its position in shares of Exact Sciences by 138.1% in the second quarter. First Horizon Advisors Inc. now owns 400 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 232 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in shares of Exact Sciences in the second quarter valued at $43,000. Signaturefd LLC grew its position in shares of Exact Sciences by 1,724.2% in the second quarter. Signaturefd LLC now owns 602 shares of the medical research company’s stock valued at $52,000 after purchasing an additional 569 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in shares of Exact Sciences by 21.5% in the second quarter. Steward Partners Investment Advisory LLC now owns 706 shares of the medical research company’s stock valued at $61,000 after purchasing an additional 125 shares in the last quarter. Institutional investors own 87.15% of the company’s stock.

Exact Sciences Company Profile

Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect colorectal cancer and pre-cancer. It also provides Oncotype DX, a gene expression tests for breast, prostate, and colon cancers; and Oncotype DX AR-V7 Nucleus Detect Test, a liquid-based test for advanced stage prostate cancer.

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Analyst Recommendations for Exact Sciences (NASDAQ:EXAS)

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