EXACT Sciences Co. (EXAS) Expected to Announce Quarterly Sales of $109.20 Million

Wall Street analysts predict that EXACT Sciences Co. (NASDAQ:EXAS) will post $109.20 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for EXACT Sciences’ earnings, with estimates ranging from $108.10 million to $110.70 million. EXACT Sciences posted sales of $72.57 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 50.5%. The business is scheduled to issue its next quarterly earnings results on Monday, October 29th.

On average, analysts expect that EXACT Sciences will report full-year sales of $427.80 million for the current year, with estimates ranging from $425.00 million to $430.00 million. For the next fiscal year, analysts expect that the business will report sales of $679.57 million, with estimates ranging from $601.70 million to $705.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover EXACT Sciences.

EXACT Sciences (NASDAQ:EXAS) last announced its earnings results on Wednesday, August 1st. The medical research company reported ($0.30) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.03. EXACT Sciences had a negative net margin of 35.24% and a negative return on equity of 20.10%. The business had revenue of $102.89 million for the quarter, compared to the consensus estimate of $104.40 million. During the same quarter in the prior year, the firm posted ($0.27) earnings per share. The business’s revenue for the quarter was up 78.5% on a year-over-year basis.

Several brokerages have recently weighed in on EXAS. BidaskClub downgraded shares of EXACT Sciences from a “buy” rating to a “hold” rating in a research note on Friday. Zacks Investment Research raised shares of EXACT Sciences from a “sell” rating to a “hold” rating in a research note on Monday, July 2nd. Jefferies Financial Group reduced their target price on shares of EXACT Sciences from $60.00 to $57.00 and set a “buy” rating on the stock in a research note on Thursday, August 2nd. Leerink Swann reaffirmed an “outperform” rating and issued a $76.00 price target (up previously from $67.00) on shares of EXACT Sciences in a research note on Wednesday, July 18th. Finally, Canaccord Genuity raised their price target on shares of EXACT Sciences from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, June 15th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $81.73.

In related news, insider D Scott Coward sold 2,190 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $79.51, for a total value of $174,126.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jeffrey Thomas Elliott sold 8,984 shares of the firm’s stock in a transaction dated Monday, July 30th. The stock was sold at an average price of $57.78, for a total transaction of $519,095.52. Following the completion of the transaction, the chief financial officer now directly owns 22,690 shares in the company, valued at approximately $1,311,028.20. The disclosure for this sale can be found here. Insiders sold a total of 17,069 shares of company stock worth $1,079,665 in the last ninety days. 3.20% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Fulton Bank N.A. bought a new position in EXACT Sciences during the 3rd quarter worth about $208,000. Quantbot Technologies LP bought a new position in EXACT Sciences during the 1st quarter worth about $135,000. Hartford Investment Management Co. bought a new position in EXACT Sciences during the 2nd quarter worth about $202,000. Schaper Benz & Wise Investment Counsel Inc. WI bought a new position in EXACT Sciences during the 2nd quarter worth about $222,000. Finally, Traynor Capital Management Inc. bought a new position in EXACT Sciences during the 2nd quarter worth about $240,000. 86.39% of the stock is currently owned by institutional investors.

Shares of EXAS opened at $68.45 on Tuesday. EXACT Sciences has a twelve month low of $37.36 and a twelve month high of $81.22. The firm has a market capitalization of $9.69 billion, a PE ratio of -70.78 and a beta of 0.98. The company has a current ratio of 15.79, a quick ratio of 15.37 and a debt-to-equity ratio of 0.87.

EXACT Sciences Company Profile

Exact Sciences Corporation, a molecular diagnostics company, focuses on developing products for the early detection and prevention of various cancers in the United States. The company offers Cologuard, a non-invasive stool-based DNA screening test for the early detection of colorectal cancer and pre-cancer.

Read More: Closed-End Mutual Funds (CEFs)

Get a free copy of the Zacks research report on EXACT Sciences (EXAS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for EXACT Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EXACT Sciences and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply