FY2020 Earnings Estimate for Exact Sciences Co. Issued By Oppenheimer (NASDAQ:EXAS)


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Exact Sciences Co. (NASDAQ:EXAS) – Research analysts at Oppenheimer upped their FY2020 EPS estimates for shares of Exact Sciences in a report released on Tuesday, January 12th. Oppenheimer analyst K. Degeeter now expects that the medical research company will post earnings per share of ($0.44) for the year, up from their prior forecast of ($0.56). Oppenheimer also issued estimates for Exact Sciences’ Q4 2020 earnings at ($0.15) EPS, FY2021 earnings at ($1.94) EPS and FY2022 earnings at ($2.69) EPS.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Sunday, November 1st. The medical research company reported ($1.46) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.95). The business had revenue of $408.40 million during the quarter, compared to the consensus estimate of $337.43 million. Exact Sciences had a negative return on equity of 11.71% and a negative net margin of 25.27%. The business’s revenue for the quarter was up 86.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.31) earnings per share.

EXAS has been the subject of several other reports. Smith Barney Citigroup downgraded shares of Exact Sciences from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $120.00 to $140.00 in a research note on Wednesday, October 28th. UBS Group downgraded shares of Exact Sciences from a “buy” rating to a “neutral” rating and upped their price objective for the company from $125.00 to $140.00 in a research note on Thursday, October 29th. BTIG Research upped their price objective on shares of Exact Sciences from $140.00 to $155.00 in a research note on Wednesday, October 28th. BidaskClub downgraded shares of Exact Sciences from a “hold” rating to a “sell” rating in a research note on Wednesday, January 6th. Finally, Canaccord Genuity upped their price objective on shares of Exact Sciences from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Exact Sciences currently has an average rating of “Buy” and an average target price of $127.20.

Exact Sciences stock opened at $145.37 on Thursday. The company has a quick ratio of 6.04, a current ratio of 6.35 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $21.87 billion, a PE ratio of -65.78 and a beta of 1.65. The firm has a fifty day simple moving average of $131.88 and a two-hundred day simple moving average of $105.25. Exact Sciences has a twelve month low of $35.25 and a twelve month high of $152.68.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. IFM Investors Pty Ltd grew its holdings in Exact Sciences by 25.7% in the fourth quarter. IFM Investors Pty Ltd now owns 15,023 shares of the medical research company’s stock worth $1,990,000 after purchasing an additional 3,075 shares during the period. Redpoint Investment Management Pty Ltd grew its holdings in Exact Sciences by 23.5% in the fourth quarter. Redpoint Investment Management Pty Ltd now owns 3,818 shares of the medical research company’s stock worth $506,000 after purchasing an additional 726 shares during the period. Mountain Capital Investment Advisors Inc purchased a new stake in Exact Sciences in the fourth quarter worth about $204,000. Baldwin Brothers Inc. MA purchased a new stake in Exact Sciences in the fourth quarter worth about $46,000. Finally, Perkins Coie Trust Co grew its holdings in Exact Sciences by 6.1% in the fourth quarter. Perkins Coie Trust Co now owns 8,650 shares of the medical research company’s stock worth $1,146,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 79.58% of the company’s stock.

In other Exact Sciences news, Director Katherine S. Zanotti sold 20,000 shares of the company’s stock in a transaction dated Monday, December 14th. The shares were sold at an average price of $132.06, for a total value of $2,641,200.00. Following the sale, the director now owns 40,171 shares in the company, valued at $5,304,982.26. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kevin T. Conroy sold 32,819 shares of the company’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $121.11, for a total transaction of $3,974,709.09. Following the completion of the sale, the chief executive officer now owns 916,521 shares in the company, valued at approximately $110,999,858.31. The disclosure for this sale can be found here. Insiders have sold 115,210 shares of company stock worth $14,520,315 in the last quarter. 1.80% of the stock is owned by corporate insiders.

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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Earnings History and Estimates for Exact Sciences (NASDAQ:EXAS)

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