Exact Sciences Corporation (EXAS) Price Target Raised to $58.00
Exact Sciences Corporation (NASDAQ:EXAS) had its price objective hoisted by Bank of America Corp from $56.00 to $58.00 in a research report issued on Tuesday. The firm presently has a “buy” rating on the medical research company’s stock. Bank of America Corp’s target price indicates a potential upside of 5.47% from the company’s current price.
Other equities research analysts also recently issued reports about the company. Vetr raised Exact Sciences Corporation from a “sell” rating to a “hold” rating and set a $36.55 price target for the company in a report on Tuesday, July 25th. Canaccord Genuity raised Exact Sciences Corporation to a “buy” rating and set a $60.00 price target for the company in a report on Tuesday. Robert W. Baird increased their price target on Exact Sciences Corporation from $49.00 to $56.00 and gave the stock an “outperform” rating in a report on Tuesday. Jefferies Group LLC increased their price target on Exact Sciences Corporation to $60.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Craig Hallum increased their price target on Exact Sciences Corporation from $46.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $49.71.
Exact Sciences Corporation (NASDAQ EXAS) traded up 9.76% during trading on Tuesday, hitting $54.99. 6,592,386 shares of the company traded hands. The firm’s market cap is $6.55 billion. The company’s 50-day moving average is $46.72 and its 200 day moving average is $38.35. Exact Sciences Corporation has a 52-week low of $13.05 and a 52-week high of $57.95.
Exact Sciences Corporation (NASDAQ:EXAS) last issued its quarterly earnings results on Monday, October 30th. The medical research company reported ($0.23) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.07. Exact Sciences Corporation had a negative return on equity of 36.36% and a negative net margin of 83.08%. The firm had revenue of $72.60 million during the quarter, compared to the consensus estimate of $65.03 million. During the same period last year, the company earned ($0.36) earnings per share. The company’s revenue for the quarter was up 158.4% on a year-over-year basis. On average, equities analysts anticipate that Exact Sciences Corporation will post ($1.17) earnings per share for the current year.
In other news, SVP D Scott Coward sold 29,115 shares of Exact Sciences Corporation stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $47.16, for a total transaction of $1,373,063.40. Following the completion of the transaction, the senior vice president now owns 64,991 shares of the company’s stock, valued at approximately $3,064,975.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Graham Peter Lidgard sold 81,025 shares of Exact Sciences Corporation stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $47.16, for a total value of $3,821,139.00. Following the transaction, the insider now directly owns 366,519 shares of the company’s stock, valued at approximately $17,285,036.04. The disclosure for this sale can be found here. In the last three months, insiders sold 231,598 shares of company stock valued at $10,182,030. 4.00% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. State of Wisconsin Investment Board purchased a new stake in Exact Sciences Corporation during the 2nd quarter worth about $3,006,000. Victory Capital Management Inc. purchased a new stake in Exact Sciences Corporation during the 2nd quarter worth about $29,450,000. Eagle Asset Management Inc. increased its position in Exact Sciences Corporation by 19.6% during the 2nd quarter. Eagle Asset Management Inc. now owns 1,857,185 shares of the medical research company’s stock worth $65,688,000 after purchasing an additional 304,598 shares in the last quarter. Federated Investors Inc. PA increased its position in Exact Sciences Corporation by 53.3% during the 2nd quarter. Federated Investors Inc. PA now owns 34,553 shares of the medical research company’s stock worth $1,222,000 after purchasing an additional 12,018 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Exact Sciences Corporation during the 1st quarter worth about $8,298,000. 85.12% of the stock is owned by institutional investors and hedge funds.
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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