EXACT Sciences Sets New 52-Week High Following Analyst Upgrade (EXAS)
Shares of EXACT Sciences (NASDAQ:EXAS) reached a new 52-week high during mid-day trading on Wednesday after Goldman Sachs raised their price target on the stock from $19.00 to $26.00, Analyst RN reports. Goldman Sachs currently has a buy rating on the stock. EXACT Sciences traded as high as $23.20 and last traded at $22.50, with a volume of 2,887,508 shares. The stock had previously closed at $21.23.
Several other analysts have also recently commented on the stock. Analysts at JMP Securities raised their price target on shares of EXACT Sciences from $22.00 to $28.00 in a research note on Wednesday, August 27th. They now have a “market outperform” rating on the stock. Separately, analysts at Canaccord Genuity raised their price target on shares of EXACT Sciences from $21.00 to $23.00 in a research note on Tuesday, August 26th. They now have a “buy” rating on the stock. Finally, analysts at Canaccord Genuity reiterated a “buy” rating on shares of EXACT Sciences in a research note on Tuesday, August 12th. They now have a $20.00 price target on the stock, up previously from $19.00. Two 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 an average rating of “Hold” and a consensus target price of $22.17.
The stock’s 50-day moving average is $17.67 and its 200-day moving average is $14.95. The company’s market cap is $1.866 billion. EXACT Sciences also saw a large increase in short interest during the month of August. As of August 15th, there was short interest totalling 26,442,496 shares, an increase of 4.9% from the July 31st total of 25,198,205 shares. Approximately 32.4% of the company’s stock are sold short. Based on an average daily trading volume, of 2,400,773 shares, the days-to-cover ratio is presently 11.0 days.
EXACT Sciences (NASDAQ:EXAS) last announced its earnings results on Tuesday, July 22nd. The company reported ($0.24) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.25) by $0.01. During the same quarter in the prior year, the company posted ($0.19) earnings per share. On average, analysts predict that EXACT Sciences will post $-1.14 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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