EXACT Sciences (EXAS) Lowered to “Hold” at BidaskClub
BidaskClub lowered shares of EXACT Sciences (NASDAQ:EXAS) from a buy rating to a hold rating in a research report report published on Tuesday.
Several other equities research analysts have also commented on EXAS. Benchmark restated a buy rating and set a $60.00 target price (up previously from $50.00) on shares of EXACT Sciences in a research report on Tuesday, October 31st. Leerink Swann restated an outperform rating and set a $50.00 target price (up previously from $45.00) on shares of EXACT Sciences in a research report on Thursday, September 21st. Bank of America increased their price target on EXACT Sciences from $56.00 to $58.00 and gave the stock a buy rating in a report on Tuesday, October 31st. Zacks Investment Research upgraded EXACT Sciences from a hold rating to a buy rating and set a $51.00 price target on the stock in a report on Tuesday, September 26th. Finally, Robert W. Baird increased their price target on EXACT Sciences from $49.00 to $56.00 and gave the stock an outperform rating in a report on Tuesday, October 31st. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. EXACT Sciences currently has a consensus rating of Hold and an average target price of $50.58.
Shares of EXACT Sciences (EXAS) opened at $50.22 on Tuesday. EXACT Sciences has a 52-week low of $13.05 and a 52-week high of $63.60. The company has a current ratio of 10.34, a quick ratio of 9.98 and a debt-to-equity ratio of 0.01.
EXACT Sciences (NASDAQ:EXAS) last announced its earnings results on Monday, October 30th. The medical research company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.07. EXACT Sciences 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 in the prior year, the company earned ($0.36) EPS. The firm’s revenue for the quarter was up 158.4% compared to the same quarter last year. analysts predict that EXACT Sciences will post -1.12 earnings per share for the current year.
In other EXACT Sciences news, insider Graham Peter Lidgard sold 81,025 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $47.16, for a total value of $3,821,139.00. Following the transaction, the insider now owns 366,519 shares in the company, valued at $17,285,036.04. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP D Scott Coward sold 29,115 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $47.16, for a total value of $1,373,063.40. Following the completion of the sale, the senior vice president now directly owns 64,991 shares of the company’s stock, valued at $3,064,975.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 595,396 shares of company stock worth $32,953,769. Corporate insiders own 4.00% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its stake in shares of EXACT Sciences by 69.7% in the third quarter. Public Employees Retirement System of Ohio now owns 122,201 shares of the medical research company’s stock worth $5,758,000 after purchasing an additional 50,185 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new stake in shares of EXACT Sciences in the third quarter worth approximately $514,000. California Public Employees Retirement System raised its stake in shares of EXACT Sciences by 2.8% in the third quarter. California Public Employees Retirement System now owns 190,338 shares of the medical research company’s stock worth $8,969,000 after purchasing an additional 5,238 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of EXACT Sciences by 117.9% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,730 shares of the medical research company’s stock worth $327,000 after purchasing an additional 3,642 shares during the last quarter. Finally, AlphaStar Capital Management LLC purchased a new stake in shares of EXACT Sciences in the third quarter worth approximately $322,000. 82.39% of the stock is owned by hedge funds and other institutional investors.
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About EXACT Sciences
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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