-$0.31 EPS Expected for Exact Sciences Corporation (EXAS) This Quarter
Analysts expect Exact Sciences Corporation (NASDAQ:EXAS) to report ($0.31) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Exact Sciences Corporation’s earnings, with estimates ranging from ($0.34) to ($0.22). Exact Sciences Corporation posted earnings per share of ($0.36) in the same quarter last year, which indicates a positive year-over-year growth rate of 13.9%. The company is scheduled to report its next quarterly earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that Exact Sciences Corporation will report full year earnings of ($1.19) per share for the current financial year, with EPS estimates ranging from ($1.28) to ($1.01). For the next fiscal year, analysts forecast that the business will post earnings of ($0.77) per share, with EPS estimates ranging from ($1.03) to ($0.49). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Exact Sciences Corporation.
Exact Sciences Corporation (NASDAQ:EXAS) last released its earnings results on Tuesday, July 25th. The medical research company reported ($0.27) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.10. The company had revenue of $57.65 million for the quarter, compared to analysts’ expectations of $47.73 million. Exact Sciences Corporation had a negative return on equity of 36.36% and a negative net margin of 83.08%.
Several equities research analysts recently commented on EXAS shares. Vetr cut Exact Sciences Corporation from a “strong-buy” rating to a “buy” rating and set a $36.13 price objective on the stock. in a research report on Wednesday, May 24th. Benchmark Co. increased their price objective on Exact Sciences Corporation from $34.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, May 31st. Cowen and Company reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Exact Sciences Corporation in a research report on Wednesday, May 31st. Canaccord Genuity increased their price objective on Exact Sciences Corporation from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, May 31st. Finally, Jefferies Group LLC set a $35.00 price objective on Exact Sciences Corporation and gave the company a “buy” rating in a research report on Thursday, June 1st. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $40.98.
In other Exact Sciences Corporation news, SVP D Scott Coward sold 1,987 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $35.21, for a total value of $69,962.27. Following the transaction, the senior vice president now directly owns 57,603 shares of the company’s stock, valued at $2,028,201.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeffrey Thomas Elliott sold 5,846 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $39.41, for a total value of $230,390.86. Following the completion of the transaction, the chief financial officer now directly owns 19,861 shares in the company, valued at $782,722.01. The disclosure for this sale can be found here. Insiders sold 129,291 shares of company stock worth $5,288,181 over the last three months. Insiders own 4.00% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Fortaleza Asset Management Inc. bought a new position in shares of Exact Sciences Corporation in the second quarter worth about $106,000. Krilogy Financial LLC raised its stake in shares of Exact Sciences Corporation by 1,460.0% in the second quarter. Krilogy Financial LLC now owns 3,900 shares of the medical research company’s stock worth $138,000 after buying an additional 3,650 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Exact Sciences Corporation 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 period. Financial Architects Inc raised its stake in shares of Exact Sciences Corporation 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 period. Finally, Johnson Financial Group Inc. raised its stake in shares of Exact Sciences Corporation 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 period. 85.22% of the stock is currently owned by institutional investors and hedge funds.
Shares of Exact Sciences Corporation (EXAS) opened at 42.75 on Friday. The stock’s 50 day moving average price is $40.01 and its 200-day moving average price is $32.49. The company’s market capitalization is $5.09 billion. Exact Sciences Corporation has a 1-year low of $13.05 and a 1-year high of $43.50.
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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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