Q3 2024 EPS Estimates for Exact Sciences Co. Increased by Leerink Partnrs (NASDAQ:EXAS)

Exact Sciences Co. (NASDAQ:EXAS - Free Report) - Stock analysts at Leerink Partnrs raised their Q3 2024 EPS estimates for Exact Sciences in a research report issued to clients and investors on Wednesday, July 31st. Leerink Partnrs analyst P. Souda now expects that the medical research company will post earnings of ($0.15) per share for the quarter, up from their prior forecast of ($0.32). The consensus estimate for Exact Sciences' current full-year earnings is ($1.17) per share. Leerink Partnrs also issued estimates for Exact Sciences' Q4 2024 earnings at ($0.03) EPS, Q1 2025 earnings at ($0.13) EPS, Q2 2025 earnings at $0.00 EPS, Q3 2025 earnings at $0.04 EPS, Q4 2025 earnings at $0.22 EPS, FY2025 earnings at $0.13 EPS and FY2026 earnings at $0.94 EPS.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The medical research company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.28. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The company had revenue of $699.26 million for the quarter, compared to analyst estimates of $690.02 million. During the same period in the prior year, the company earned ($0.45) earnings per share. The firm's revenue was up 12.4% on a year-over-year basis.

A number of other analysts also recently commented on the stock. Evercore ISI cut their price objective on shares of Exact Sciences from $80.00 to $72.00 and set an "outperform" rating for the company in a report on Tuesday, July 2nd. Stifel Nicolaus cut their price target on shares of Exact Sciences from $100.00 to $82.00 and set a "buy" rating for the company in a report on Thursday. BTIG Research cut their price target on shares of Exact Sciences from $80.00 to $70.00 and set a "buy" rating for the company in a report on Wednesday, June 26th. Canaccord Genuity Group cut their price target on shares of Exact Sciences from $90.00 to $85.00 and set a "buy" rating for the company in a report on Thursday, May 9th. Finally, The Goldman Sachs Group decreased their price target on shares of Exact Sciences from $88.00 to $75.00 and set a "buy" rating for the company in a research report on Wednesday, July 17th. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.77.

Exact Sciences Price Performance

Shares of EXAS stock traded down $1.58 during mid-day trading on Monday, hitting $55.77. 3,296,224 shares of the stock were exchanged, compared to its average volume of 2,732,733. Exact Sciences has a 52-week low of $40.62 and a 52-week high of $87.11. The company has a quick ratio of 1.45, a current ratio of 2.17 and a debt-to-equity ratio of 0.73. The firm has a fifty day moving average of $45.38 and a 200 day moving average of $56.04. The company has a market cap of $10.30 billion, a PE ratio of -42.25 and a beta of 1.22.

Institutional Trading of Exact Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Exact Sciences by 1.0% in the first quarter. Vanguard Group Inc. now owns 17,740,092 shares of the medical research company's stock valued at $1,225,131,000 after acquiring an additional 180,341 shares in the last quarter. Capital World Investors boosted its holdings in Exact Sciences by 74.4% during the first quarter. Capital World Investors now owns 13,025,313 shares of the medical research company's stock worth $899,528,000 after buying an additional 5,557,168 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in Exact Sciences by 12.8% during the fourth quarter. Artisan Partners Limited Partnership now owns 4,470,278 shares of the medical research company's stock worth $330,711,000 after buying an additional 508,764 shares in the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of Exact Sciences by 175.3% in the first quarter. Champlain Investment Partners LLC now owns 2,258,235 shares of the medical research company's stock valued at $155,954,000 after purchasing an additional 1,438,010 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Exact Sciences by 11.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,858,380 shares of the medical research company's stock valued at $137,483,000 after purchasing an additional 192,372 shares in the last quarter. Hedge funds and other institutional investors own 88.82% of the company's stock.

About Exact Sciences

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.