Short Interest in EXACT Sciences Increases By 20.8% (EXAS)
EXACT Sciences (NASDAQ:EXAS) was the recipient of a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 28,135,227 shares, a growth of 20.8% from the April 30th total of 23,287,269 shares, AR Network reports. Based on an average daily trading volume, of 2,235,167 shares, the short-interest ratio is presently 12.6 days. Currently, 35.0% of the company’s shares are sold short.
A number of research firms have recently commented on EXAS. Analysts at JMP Securities cut their price target on shares of EXACT Sciences from $25.00 to $22.00 in a research note on Friday, May 2nd. They now have a “market outperform” rating on the stock. Separately, analysts at Benchmark Co. reiterated a “buy” rating on shares of EXACT Sciences in a research note on Thursday, May 1st. Finally, analysts at Gravity Research initiated coverage on shares of EXACT Sciences in a research note on Wednesday, April 30th. They set a “strong sell” rating on the stock. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $16.88.
Shares of EXACT Sciences (NASDAQ:EXAS) opened at 14.19 on Friday. EXACT Sciences has a one year low of $9.53 and a one year high of $15.60. The stock’s 50-day moving average is $12.59 and its 200-day moving average is $12.86. The company’s market cap is $1.175 billion.
EXACT Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.23) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.19) by $0.04. The company had revenue of $0.30 million for the quarter, compared to the consensus estimate of $0.40 million. During the same quarter in the prior year, the company posted ($0.17) earnings per share. The company’s quarterly revenue was down 70.0% on a year-over-year basis. On average, analysts predict that EXACT Sciences will post $-1.05 earnings per share for the current fiscal year.
Exact Sciences Corporation is a molecular diagnostics company focused on the early detection and prevention of colorectal cancer.
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