Exact Sciences (NASDAQ:EXAS) Reaches New 12-Month High – Here’s Why

Exact Sciences Corporation (NASDAQ:EXAS) reached a new 52-week high during trading on Friday . The stock traded as high as $102.66 and last traded at $101.82, with a volume of 6091148 shares changing hands. The stock had previously closed at $101.38.

Analyst Ratings Changes

EXAS has been the topic of a number of recent analyst reports. Jefferies Financial Group downgraded shares of Exact Sciences from a “buy” rating to a “hold” rating and boosted their target price for the stock from $90.00 to $105.00 in a report on Monday, November 24th. Leerink Partnrs downgraded shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 20th. Cowen cut shares of Exact Sciences from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Craig Hallum downgraded shares of Exact Sciences from a “buy” rating to a “hold” rating and set a $105.00 target price for the company. in a research note on Friday, November 21st. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $105.00 price target (up previously from $80.00) on shares of Exact Sciences in a report on Friday, November 28th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, nineteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Exact Sciences has an average rating of “Hold” and an average price target of $85.00.

Exact Sciences Price Performance

The company has a current ratio of 2.72, a quick ratio of 2.44 and a debt-to-equity ratio of 0.93. The company has a 50 day moving average of $80.48 and a 200-day moving average of $61.47. The firm has a market capitalization of $19.29 billion, a P/E ratio of -19.14, a P/E/G ratio of 12.54 and a beta of 1.42.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Monday, November 3rd. The medical research company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.11. The firm had revenue of $850.74 million for the quarter, compared to analysts’ expectations of $810.42 million. Exact Sciences had a positive return on equity of 1.67% and a negative net margin of 32.01%.The company’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.21) EPS. On average, sell-side analysts predict that Exact Sciences Corporation will post -0.58 EPS for the current year.

Insiders Place Their Bets

In other Exact Sciences news, EVP Jacob A. Orville sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $75.00, for a total value of $375,000.00. Following the completion of the sale, the executive vice president owned 23,237 shares of the company’s stock, valued at $1,742,775. The trade was a 17.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Brian Baranick sold 2,858 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $70.08, for a total transaction of $200,288.64. Following the transaction, the executive vice president owned 22,368 shares in the company, valued at approximately $1,567,549.44. The trade was a 11.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 9,858 shares of company stock worth $695,289 in the last quarter. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Exact Sciences

A number of hedge funds have recently added to or reduced their stakes in the stock. SVB Wealth LLC acquired a new stake in Exact Sciences in the first quarter valued at about $30,000. True Wealth Design LLC raised its stake in Exact Sciences by 951.8% during the second quarter. True Wealth Design LLC now owns 589 shares of the medical research company’s stock worth $31,000 after acquiring an additional 533 shares in the last quarter. Westside Investment Management Inc. lifted its holdings in shares of Exact Sciences by 100.0% in the third quarter. Westside Investment Management Inc. now owns 542 shares of the medical research company’s stock worth $31,000 after acquiring an additional 271 shares during the last quarter. Country Trust Bank bought a new position in shares of Exact Sciences in the second quarter worth about $32,000. Finally, Bessemer Group Inc. boosted its stake in shares of Exact Sciences by 1,980.6% in the 2nd quarter. Bessemer Group Inc. now owns 645 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 614 shares in the last quarter. Institutional investors own 88.82% of the company’s stock.

Exact Sciences Company Profile

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.