Exact Sciences Corporation $EXAS Shares Bought by Gagnon Securities LLC

Key Points

• Gagnon Securities LLC increased its holdings in Exact Sciences Corporation by 3.0% during the second quarter, now owning approximately $14.8 million worth of the company's stock.
• A number of analysts upgraded their price targets on Exact Sciences, with Craig Hallum increasing theirs from $65.00 to $85.00 and maintaining a "buy" rating.
• Exact Sciences reported a profit of $0.22 EPS for the quarter, exceeding estimates, with a revenue increase of 16.0% year-over-year, totaling $811.09 million.

Gagnon Securities LLC lifted its holdings in shares of Exact Sciences Corporation (NASDAQ:EXAS - Free Report) by 3.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 278,789 shares of the medical research company's stock after buying an additional 8,125 shares during the period. Exact Sciences comprises 3.0% of Gagnon Securities LLC's holdings, making the stock its 9th largest position. Gagnon Securities LLC owned approximately 0.15% of Exact Sciences worth $14,815,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Larson Financial Group LLC boosted its stake in shares of Exact Sciences by 2,804.8% during the 1st quarter. Larson Financial Group LLC now owns 610 shares of the medical research company's stock worth $26,000 after buying an additional 589 shares during the last quarter. National Pension Service increased its holdings in Exact Sciences by 75.1% during the first quarter. National Pension Service now owns 681 shares of the medical research company's stock worth $29,000 after buying an additional 292 shares during the last quarter. SVB Wealth LLC acquired a new position in Exact Sciences during the first quarter worth $30,000. Banque Cantonale Vaudoise acquired a new position in Exact Sciences during the first quarter worth $34,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Exact Sciences during the first quarter worth $34,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Exact Sciences

In other news, Director James Edward Doyle sold 1,485 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $42.02, for a total transaction of $62,399.70. Following the transaction, the director directly owned 59,962 shares of the company's stock, valued at approximately $2,519,603.24. This trade represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Craig Hallum boosted their target price on shares of Exact Sciences from $65.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, September 11th. UBS Group cut their target price on shares of Exact Sciences from $61.00 to $53.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Evercore ISI raised their target price on shares of Exact Sciences from $64.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday. Wall Street Zen upgraded shares of Exact Sciences from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Cowen reiterated a "buy" rating on shares of Exact Sciences in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $68.71.

Exact Sciences Stock Up 0.2%

Exact Sciences stock opened at $57.75 on Wednesday. The stock has a market cap of $10.93 billion, a P/E ratio of -10.64, a P/E/G ratio of 5.32 and a beta of 1.24. The company has a quick ratio of 2.56, a current ratio of 2.89 and a debt-to-equity ratio of 0.94. Exact Sciences Corporation has a twelve month low of $38.81 and a twelve month high of $72.83. The company's 50-day moving average price is $49.97 and its two-hundred day moving average price is $50.27.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The medical research company reported $0.22 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.24. The firm had revenue of $811.09 million for the quarter, compared to analysts' expectations of $774.43 million. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The business's revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.09) EPS. As a group, analysts expect that Exact Sciences Corporation will post -0.58 EPS for the current year.

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 DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX Breast Recurrence Score Test; Oncotype DX Breast DCIS Score Test; Oncotype DX Colon Recurrence Score Test; OncoExTra Test for tumor profiling for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer; and Covid-19 testing services.

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