Exact Sciences Co. (NASDAQ:EXAS) has received an average recommendation of "Buy" from the nineteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $149.06.
Several brokerages have recently weighed in on EXAS. SVB Leerink reduced their target price on Exact Sciences from $170.00 to $160.00 and set an "outperform" rating for the company in a research note on Wednesday, July 14th. Robert W. Baird reduced their price objective on Exact Sciences from $157.00 to $127.00 and set an "outperform" rating for the company in a research note on Thursday, July 29th. Wells Fargo & Company increased their price objective on Exact Sciences from $115.00 to $120.00 and gave the company an "equal weight" rating in a research note on Monday, June 21st. Oppenheimer reduced their price objective on Exact Sciences from $161.00 to $155.00 and set an "outperform" rating for the company in a research note on Thursday, July 29th. Finally, Stifel Nicolaus reduced their price objective on Exact Sciences from $165.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, July 29th.
In related news, Director Katherine S. Zanotti sold 1,381 shares of the firm's stock in a transaction dated Friday, July 30th. The stock was sold at an average price of $111.11, for a total transaction of $153,442.91. Following the completion of the transaction, the director now directly owns 34,741 shares in the company, valued at approximately $3,860,072.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeffrey Thomas Elliott sold 38,361 shares of Exact Sciences stock in a transaction dated Thursday, July 29th. The shares were sold at an average price of $111.40, for a total value of $4,273,415.40. The disclosure for this sale can be found here. Company insiders own 1.40% of the company's stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Ameritas Investment Company LLC purchased a new position in shares of Exact Sciences in the 1st quarter valued at about $26,000. Sittner & Nelson LLC raised its position in shares of Exact Sciences by 800.0% during the 2nd quarter. Sittner & Nelson LLC now owns 225 shares of the medical research company's stock worth $28,000 after acquiring an additional 200 shares in the last quarter. RMR Wealth Builders acquired a new stake in shares of Exact Sciences during the 1st quarter worth about $30,000. Maverick Capital Ltd. acquired a new stake in shares of Exact Sciences during the 1st quarter worth about $30,000. Finally, PNC Managed Account Solutions Inc. acquired a new stake in shares of Exact Sciences during the 2nd quarter worth about $30,000. Institutional investors and hedge funds own 88.31% of the company's stock.
Exact Sciences stock opened at $108.15 on Monday. The company has a current ratio of 2.47, a quick ratio of 2.34 and a debt-to-equity ratio of 0.53. Exact Sciences has a 12 month low of $70.75 and a 12 month high of $159.54. The stock's 50 day simple moving average is $105.19 and its two-hundred day simple moving average is $115.59. The firm has a market cap of $18.60 billion, a PE ratio of -19.81 and a beta of 1.29.
Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Tuesday, July 27th. The medical research company reported ($1.03) earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of ($0.72) by ($0.31). The business had revenue of $434.82 million for the quarter, compared to analyst estimates of $418.76 million. Exact Sciences had a negative return on equity of 8.93% and a negative net margin of 50.52%. On average, equities research analysts forecast that Exact Sciences will post -3.17 EPS for the current year.
About Exact Sciences
EXACT Sciences Corp. is a molecular diagnostics company, which focuses on the early detection and prevention of colorectal cancer. It developed Cologuard, a screening test for the early detection of colorectal cancer and pre-cancer. The company was founded on February 10, 1995 and is headquartered in Madison, WI.
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