Brokerages Anticipate EXACT Sciences Co. (NASDAQ:EXAS) Will Post Quarterly Sales of $63.42 Million
Analysts forecast that EXACT Sciences Co. (NASDAQ:EXAS) will report $63.42 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for EXACT Sciences’ earnings. The highest sales estimate is $66.03 million and the lowest is $62.30 million. EXACT Sciences reported sales of $28.12 million during the same quarter last year, which indicates a positive year over year growth rate of 125.5%. The company is expected to issue its next quarterly earnings results on Wednesday, October 25th.
According to Zacks, analysts expect that EXACT Sciences will report full-year sales of $63.42 million for the current fiscal year, with estimates ranging from $236.73 million to $244.51 million. For the next year, analysts expect that the business will report sales of $370.32 million per share, with estimates ranging from $333.60 million to $400.00 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow EXACT Sciences.
EXACT Sciences (NASDAQ:EXAS) last released its earnings results on Tuesday, July 25th. The medical research company reported ($0.27) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.10. EXACT Sciences had a negative net margin of 53.41% and a negative return on equity of 29.05%. The firm had revenue of $57.65 million during the quarter, compared to analyst estimates of $47.73 million.
EXAS has been the topic of a number of recent research reports. Craig Hallum increased their price objective on shares of EXACT Sciences from $35.00 to $41.00 in a research note on Friday, July 7th. Vetr upgraded shares of EXACT Sciences from a “hold” rating to a “buy” rating and set a $36.13 price objective on the stock in a research note on Wednesday, May 10th. Jefferies Group LLC reissued a “buy” rating and set a $35.00 target price on shares of EXACT Sciences in a research report on Tuesday, May 16th. Canaccord Genuity reissued a “buy” rating and set a $27.00 target price on shares of EXACT Sciences in a research report on Monday, April 24th. Finally, Leerink Swann set a $38.00 target price on shares of EXACT Sciences and gave the company a “buy” rating in a research report on Friday, April 28th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $40.51.
COPYRIGHT VIOLATION NOTICE: “Brokerages Anticipate EXACT Sciences Co. (NASDAQ:EXAS) Will Post Quarterly Sales of $63.42 Million” was originally reported by American Banking News and is the property of of American Banking News. If you are accessing this piece on another website, it was illegally copied and republished in violation of international copyright & trademark laws. The original version of this piece can be accessed at https://www.americanbankingnews.com/2017/08/13/brokerages-anticipate-exact-sciences-co-nasdaqexas-will-post-quarterly-sales-of-63-42-million.html.
EXACT Sciences (NASDAQ:EXAS) opened at 37.76 on Friday. The stock’s 50 day moving average is $37.62 and its 200 day moving average is $28.82. EXACT Sciences has a 12-month low of $13.05 and a 12-month high of $42.18. The stock’s market capitalization is $4.50 billion.
In other news, SVP D Scott Coward sold 1,987 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $35.21, for a total value of $69,962.27. Following the sale, the senior vice president now owns 57,603 shares in the company, valued at $2,028,201.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeffrey Thomas Elliott sold 5,846 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $39.41, for a total transaction of $230,390.86. Following the completion of the sale, the chief financial officer now owns 19,861 shares in the company, valued at approximately $782,722.01. The disclosure for this sale can be found here. Company insiders own 4.00% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Fortaleza Asset Management Inc. acquired a new stake in EXACT Sciences during the second quarter worth $106,000. Northwestern Mutual Wealth Management Co. raised its stake in EXACT Sciences by 17.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,072 shares of the medical research company’s stock worth $144,000 after buying an additional 600 shares during the last quarter. Financial Architects Inc raised its stake in EXACT Sciences by 90.0% in the second quarter. Financial Architects Inc now owns 4,295 shares of the medical research company’s stock worth $152,000 after buying an additional 2,035 shares during the last quarter. Johnson Financial Group Inc. raised its stake in EXACT Sciences by 25.9% in the second quarter. Johnson Financial Group Inc. now owns 4,862 shares of the medical research company’s stock worth $172,000 after buying an additional 1,000 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in EXACT Sciences by 66.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,052 shares of the medical research company’s stock worth $179,000 after buying an additional 2,013 shares during the last quarter. Hedge funds and other institutional investors own 84.86% of the company’s stock.
EXACT Sciences 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for EXACT Sciences Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EXACT Sciences Co. and related companies with MarketBeat.com's FREE daily email newsletter.