Exact Sciences Corporation (EXAS) Downgraded by BTIG Research to Neutral
Other research analysts have also issued research reports about the company. Vetr upgraded Exact Sciences Corporation from a sell rating to a hold rating and set a $36.55 target price on the stock in a report on Tuesday, July 25th. Robert W. Baird raised their target price on Exact Sciences Corporation from $49.00 to $56.00 and gave the company an outperform rating in a report on Tuesday. Jefferies Group LLC raised their target price on Exact Sciences Corporation to $60.00 and gave the company a buy rating in a report on Tuesday. Roth Capital raised their target price on Exact Sciences Corporation from $40.00 to $46.00 and gave the company a buy rating in a report on Wednesday, July 26th. Finally, Lake Street Capital raised their target price on Exact Sciences Corporation from $30.00 to $41.00 and gave the company a hold rating in a report on Wednesday, July 26th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $49.71.
Exact Sciences Corporation (NASDAQ:EXAS) last posted its earnings results on Monday, October 30th. The medical research company reported ($0.23) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.07. Exact Sciences Corporation had a negative return on equity of 30.32% and a negative net margin of 60.71%. The company had revenue of $72.60 million for the quarter, compared to analyst estimates of $65.03 million. During the same quarter last year, the company earned ($0.36) earnings per share. The company’s revenue for the quarter was up 158.4% on a year-over-year basis.
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In related news, Director Thomas D. Carey purchased 2,500 shares of Exact Sciences Corporation stock in a transaction dated Thursday, August 17th. The stock was bought at an average cost of $37.71 per share, for a total transaction of $94,275.00. Following the completion of the transaction, the director now owns 60,858 shares in the company, valued at $2,294,955.18. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP D Scott Coward sold 29,115 shares of Exact Sciences Corporation stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $47.16, for a total value of $1,373,063.40. Following the completion of the transaction, the senior vice president now owns 64,991 shares of the company’s stock, valued at $3,064,975.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 231,598 shares of company stock valued at $10,182,030. 4.00% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Exact Sciences Corporation by 8.0% during the second quarter. Vanguard Group Inc. now owns 9,459,679 shares of the medical research company’s stock valued at $334,589,000 after buying an additional 700,051 shares during the period. BlackRock Inc. boosted its stake in Exact Sciences Corporation by 1.2% during the second quarter. BlackRock Inc. now owns 6,884,886 shares of the medical research company’s stock valued at $243,518,000 after buying an additional 80,589 shares during the period. Fred Alger Management Inc. bought a new stake in Exact Sciences Corporation during the second quarter valued at $84,177,000. Lord Abbett & CO. LLC boosted its stake in Exact Sciences Corporation by 59.1% during the second quarter. Lord Abbett & CO. LLC now owns 2,356,706 shares of the medical research company’s stock valued at $83,357,000 after buying an additional 875,527 shares during the period. Finally, FMR LLC boosted its stake in Exact Sciences Corporation by 32.7% during the second quarter. FMR LLC now owns 2,318,269 shares of the medical research company’s stock valued at $81,997,000 after buying an additional 571,796 shares during the period. 85.12% of the stock is owned by institutional investors.
About Exact Sciences Corporation
Exact Sciences Corporation is a molecular diagnostics company. The Company focuses on the early detection and prevention of some forms of cancer. It offers a non-invasive screening test called Cologuard for the early detection of colorectal cancer and pre-cancer. Its Cologuard test is a stool-based deoxyribonucleic acid (sDNA) screening test, which utilizes a multi-target approach to detect deoxyribonucleic acid (DNA) and hemoglobin biomarkers associated with colorectal cancer and pre-cancer.
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