Canaccord Genuity Reiterates “Buy” Rating for Exact Sciences Corporation (NASDAQ:EXAS)
Exact Sciences Corporation (NASDAQ:EXAS)‘s stock had its “buy” rating restated by Canaccord Genuity in a research report issued on Thursday, The Fly reports. They presently have a $42.00 price target on the medical research company’s stock, up from their previous price target of $38.00. Canaccord Genuity’s target price would suggest a potential upside of 7.58% from the company’s previous close.
Several other equities research analysts have also commented on the company. Bank of America Corporation restated a “buy” rating on shares of Exact Sciences Corporation in a research report on Wednesday, March 29th. Cowen and Company upped their price objective on Exact Sciences Corporation from $30.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, April 27th. Zacks Investment Research lowered Exact Sciences Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th. Vetr upgraded Exact Sciences Corporation from a “buy” rating to a “strong-buy” rating and set a $37.66 price objective on the stock in a research report on Tuesday, May 30th. Finally, Goldman Sachs Group, Inc. (The) set a $33.00 price objective on Exact Sciences Corporation and gave the stock a “neutral” rating in a research report on Monday, May 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $35.73.
Exact Sciences Corporation (NASDAQ:EXAS) traded down 0.26% during trading on Thursday, hitting $39.04. 1,710,184 shares of the company were exchanged. Exact Sciences Corporation has a 1-year low of $11.96 and a 1-year high of $39.99. The stock’s market capitalization is $4.34 billion. The firm’s 50 day moving average price is $35.75 and its 200-day moving average price is $26.45.
Exact Sciences Corporation (NASDAQ:EXAS) last released its quarterly earnings data on Thursday, April 27th. The medical research company reported ($0.32) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.41) by $0.09. Exact Sciences Corporation had a negative return on equity of 49.24% and a negative net margin of 116.39%. The business had revenue of $48.36 million for the quarter, compared to analyst estimates of $37.38 million. During the same quarter in the prior year, the firm posted ($0.49) EPS. The business’s quarterly revenue was up 225.9% compared to the same quarter last year. Equities analysts predict that Exact Sciences Corporation will post ($1.33) EPS for the current year.
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In other news, SVP D Scott Coward sold 1,987 shares of the stock in a transaction that occurred on 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Botty Investors LLC purchased a new position in Exact Sciences Corporation during the first quarter valued at approximately $200,000. Eqis Capital Management Inc. purchased a new position in Exact Sciences Corporation during the first quarter valued at approximately $201,000. Teacher Retirement System of Texas purchased a new position in Exact Sciences Corporation during the first quarter valued at approximately $203,000. Ameritas Investment Partners Inc. increased its position in Exact Sciences Corporation by 455.0% in the first quarter. Ameritas Investment Partners Inc. now owns 9,129 shares of the medical research company’s stock valued at $216,000 after buying an additional 7,484 shares in the last quarter. Finally, Lincoln National Corp purchased a new position in Exact Sciences Corporation during the first quarter valued at approximately $221,000. 85.08% of the stock is owned by hedge funds and other institutional investors.
Exact Sciences Corporation Company Profile
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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