EXACT Sciences (EXAS) Raised to “Buy” at Zacks Investment Research
EXACT Sciences (NASDAQ:EXAS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage currently has a $62.00 price objective on the medical research company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 17.83% from the stock’s previous close.
According to Zacks, “EXACT Sciences Corporation uses applied genomics to develop effective, patient-friendly screening technologies for use in the detection of cancer. Certain of its technologies have been licensed to Laboratory Corporation of America Holdings for a stool-based DNA screening assay for colorectal cancer in the average-risk population. Colorectal cancer, which is the most deadly cancer among non-smokers, is generally curable if detected early. Despite the availability of colorectal cancer screening and diagnostic tests for more than twenty years, the rate of early detection of colorectal cancer remains low, and deaths from colorectal cancer remain high. EXACT Sciences believes its genomics-based technologies would help to enable detection of colorectal cancer so that more people can be effectively treated. “
Other analysts have also recently issued research reports about the stock. William Blair reiterated a “buy” rating on shares of EXACT Sciences in a research note on Wednesday, January 10th. Jefferies Group increased their price target on shares of EXACT Sciences to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Robert W. Baird increased their price target on shares of EXACT Sciences from $49.00 to $56.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 31st. Benchmark reiterated a “buy” rating and set a $60.00 price target (up previously from $50.00) on shares of EXACT Sciences in a research note on Tuesday, October 31st. Finally, Bank of America increased their price target on shares of EXACT Sciences from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $51.31.
EXACT Sciences (NASDAQ EXAS) opened at $52.62 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.34 and a quick ratio of 9.98. The company has a market cap of $6,300.00, a price-to-earnings ratio of -45.76 and a beta of 0.68. EXACT Sciences has a 52-week low of $16.95 and a 52-week high of $63.60.
EXACT Sciences (NASDAQ:EXAS) last posted its earnings results on Monday, October 30th. The medical research company reported ($0.23) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.07. The firm had revenue of $72.60 million for the quarter, compared to the consensus estimate of $65.03 million. EXACT Sciences had a negative net margin of 60.71% and a negative return on equity of 30.32%. The company’s revenue was up 158.4% on a year-over-year basis. During the same period last year, the firm posted ($0.36) EPS. research analysts predict that EXACT Sciences will post -1.09 earnings per share for the current fiscal year.
In other news, insider Graham Peter Lidgard sold 45,775 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $53.60, for a total value of $2,453,540.00. Following the completion of the sale, the insider now owns 272,819 shares in the company, valued at approximately $14,623,098.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP D Scott Coward sold 1,665 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $52.54, for a total transaction of $87,479.10. Following the completion of the sale, the senior vice president now owns 37,558 shares of the company’s stock, valued at approximately $1,973,297.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 610,433 shares of company stock valued at $34,341,306. 4.00% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Krilogy Financial LLC lifted its stake in shares of EXACT Sciences by 1,460.0% in the 2nd quarter. Krilogy Financial LLC now owns 3,900 shares of the medical research company’s stock worth $138,000 after acquiring an additional 3,650 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of EXACT Sciences by 17.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,072 shares of the medical research company’s stock worth $144,000 after acquiring an additional 600 shares during the period. Crow Point Partners LLC acquired a new stake in shares of EXACT Sciences in the 4th quarter worth $145,000. Oppenheimer Asset Management Inc. lifted its stake in shares of EXACT Sciences by 2,925.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 3,177 shares of the medical research company’s stock worth $150,000 after acquiring an additional 3,072 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of EXACT Sciences in the 3rd quarter worth $183,000. Institutional investors own 82.39% of the company’s stock.
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EXACT Sciences Company Profile
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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