Exact Sciences Corporation Expected to Earn Q3 2017 Earnings of ($0.35) Per Share (EXAS)
Exact Sciences Corporation (NASDAQ:EXAS) – Analysts at Craig Hallum raised their Q3 2017 EPS estimates for Exact Sciences Corporation in a note issued to investors on Thursday. Craig Hallum analyst B. Bonello now anticipates that the medical research company will post earnings of ($0.35) per share for the quarter, up from their previous estimate of ($0.38). Craig Hallum also issued estimates for Exact Sciences Corporation’s Q4 2017 earnings at ($0.36) EPS, FY2017 earnings at ($1.41) EPS, Q1 2018 earnings at ($0.33) EPS, Q2 2018 earnings at ($0.33) EPS and FY2018 earnings at ($1.28) EPS.
A number of other equities analysts have also recently issued reports on EXAS. Cowen and Company started coverage on Exact Sciences Corporation in a report on Monday, March 27th. They set an “outperform” rating and a $30.00 target price on the stock. Bank of America Corporation restated a “buy” rating on shares of Exact Sciences Corporation in a report on Wednesday, March 29th. Leerink Swann started coverage on Exact Sciences Corporation in a report on Monday, April 17th. They set an “outperform” rating and a $30.00 target price on the stock. Canaccord Genuity restated a “buy” rating and set a $27.00 target price on shares of Exact Sciences Corporation in a report on Monday, April 24th. Finally, Zacks Investment Research cut Exact Sciences Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Exact Sciences Corporation presently has an average rating of “Buy” and an average target price of $33.85.
Shares of Exact Sciences Corporation (NASDAQ:EXAS) opened at 37.03 on Monday. The firm’s 50-day moving average price is $33.86 and its 200 day moving average price is $24.14. Exact Sciences Corporation has a 12-month low of $11.94 and a 12-month high of $38.92. The firm’s market cap is $4.12 billion.
Exact Sciences Corporation (NASDAQ:EXAS) last issued its quarterly earnings results on Thursday, April 27th. The medical research company reported ($0.32) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.09. The company had revenue of $48.36 million during the quarter, compared to the consensus estimate of $37.38 million. Exact Sciences Corporation had a negative net margin of 116.39% and a negative return on equity of 49.24%. Exact Sciences Corporation’s revenue was up 225.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.49) EPS.
A number of large investors have recently made changes to their positions in the stock. Neuberger Berman Group LLC purchased a new stake in shares of Exact Sciences Corporation during the first quarter worth about $6,391,000. Nationwide Fund Advisors raised its stake in shares of Exact Sciences Corporation by 52.1% in the first quarter. Nationwide Fund Advisors now owns 149,167 shares of the medical research company’s stock worth $3,523,000 after buying an additional 51,085 shares in the last quarter. State Street Corp raised its stake in shares of Exact Sciences Corporation by 11.7% in the fourth quarter. State Street Corp now owns 5,554,992 shares of the medical research company’s stock worth $74,211,000 after buying an additional 582,802 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Exact Sciences Corporation during the fourth quarter worth about $758,000. Finally, Norges Bank purchased a new stake in shares of Exact Sciences Corporation during the fourth quarter worth about $25,200,000. 84.96% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP D Scott Coward sold 1,987 shares of Exact Sciences Corporation stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $35.21, for a total transaction of $69,962.27. Following the transaction, the senior vice president now owns 57,603 shares in the company, valued at approximately $2,028,201.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.00% of the company’s stock.
About Exact Sciences Corporation
Exact Sciences Corporation is a molecular diagnostics company. The Company focuses on the early detection and prevention of some forms of cancer. It offers a non-invasive screening test called Cologuard for the early detection of colorectal cancer and pre-cancer. Its Cologuard test is a stool-based deoxyribonucleic acid (sDNA) screening test, which utilizes a multi-target approach to detect deoxyribonucleic acid (DNA) and hemoglobin biomarkers associated with colorectal cancer and pre-cancer.
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