EXACT Sciences (NASDAQ:EXAS) Rating Increased to Hold at BidaskClub

BidaskClub upgraded shares of EXACT Sciences (NASDAQ:EXAS) from a sell rating to a hold rating in a report released on Friday, November 2nd.

Several other research analysts also recently commented on EXAS. Canaccord Genuity reissued a buy rating and set a $65.00 price objective (up previously from $62.00) on shares of EXACT Sciences in a report on Monday, August 13th. Jefferies Financial Group dropped their price objective on shares of EXACT Sciences from $60.00 to $57.00 and set a buy rating for the company in a report on Thursday, August 2nd. Bank of America dropped their price objective on shares of EXACT Sciences from $75.00 to $68.00 and set a buy rating for the company in a report on Thursday, August 2nd. Craig Hallum lowered their price target on shares of EXACT Sciences from $60.00 to $54.00 and set a buy rating for the company in a report on Thursday, August 2nd. Finally, BTIG Research increased their price target on shares of EXACT Sciences to $95.00 and gave the company a buy rating in a report on Wednesday, August 22nd. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $84.08.

Shares of NASDAQ EXAS traded down $1.46 during midday trading on Friday, hitting $74.62. 1,932,975 shares of the stock traded hands, compared to its average volume of 2,147,434. The stock has a market capitalization of $9.28 billion, a price-to-earnings ratio of -75.37 and a beta of 1.21. The company has a debt-to-equity ratio of 0.94, a current ratio of 12.08 and a quick ratio of 11.72. EXACT Sciences has a one year low of $37.36 and a one year high of $81.22.

EXACT Sciences (NASDAQ:EXAS) last released its quarterly earnings results on Tuesday, October 30th. The medical research company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.05. The firm had revenue of $118.29 million for the quarter, compared to analysts’ expectations of $109.33 million. EXACT Sciences had a negative return on equity of 20.18% and a negative net margin of 35.83%. The company’s revenue was up 63.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.23) EPS. Equities research analysts anticipate that EXACT Sciences will post -1.53 EPS for the current year.

In related news, insider Graham Peter Lidgard sold 58,000 shares of EXACT Sciences stock in a transaction that occurred on Monday, October 8th. The shares were sold at an average price of $69.36, for a total transaction of $4,022,880.00. Following the transaction, the insider now directly owns 204,684 shares of the company’s stock, valued at $14,196,882.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider D Scott Coward sold 2,190 shares of EXACT Sciences stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $79.51, for a total transaction of $174,126.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 218,255 shares of company stock worth $15,791,740. Corporate insiders own 3.20% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Xact Kapitalforvaltning AB lifted its stake in shares of EXACT Sciences by 4.5% during the third quarter. Xact Kapitalforvaltning AB now owns 18,725 shares of the medical research company’s stock worth $1,478,000 after buying an additional 800 shares during the period. Chicago Partners Investment Group LLC lifted its position in EXACT Sciences by 47.6% during the third quarter. Chicago Partners Investment Group LLC now owns 3,100 shares of the medical research company’s stock valued at $191,000 after purchasing an additional 1,000 shares during the period. MML Investors Services LLC lifted its position in EXACT Sciences by 38.0% during the third quarter. MML Investors Services LLC now owns 5,050 shares of the medical research company’s stock valued at $399,000 after purchasing an additional 1,391 shares during the period. Swiss National Bank lifted its position in EXACT Sciences by 0.9% during the third quarter. Swiss National Bank now owns 212,619 shares of the medical research company’s stock valued at $16,780,000 after purchasing an additional 2,000 shares during the period. Finally, IFP Advisors Inc raised its position in shares of EXACT Sciences by 49.4% in the third quarter. IFP Advisors Inc now owns 6,192 shares of the medical research company’s stock worth $489,000 after acquiring an additional 2,047 shares during the period. Institutional investors and hedge funds own 87.06% of the company’s stock.

About EXACT Sciences

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.

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Analyst Recommendations for EXACT Sciences (NASDAQ:EXAS)

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