Jefferies Group Brokers Boost Earnings Estimates for Exact Sciences Corporation (EXAS)
Exact Sciences Corporation (NASDAQ:EXAS) – Investment analysts at Jefferies Group upped their FY2020 earnings per share estimates for shares of Exact Sciences Corporation in a report issued on Tuesday. Jefferies Group analyst B. Couillard now forecasts that the medical research company will post earnings per share of $1.00 for the year, up from their previous estimate of $0.89. Jefferies Group has a “Buy” rating and a $60.00 price objective on the stock.
A number of other equities research analysts have also recently commented on the company. Leerink Swann set a $45.00 target price on Exact Sciences Corporation and gave the company a “buy” rating in a research report on Thursday, August 24th. Robert W. Baird reiterated a “buy” rating and issued a $49.00 price objective on shares of Exact Sciences Corporation in a report on Friday, October 6th. Bank of America Corporation set a $56.00 price objective on Exact Sciences Corporation and gave the stock a “buy” rating in a report on Thursday, October 19th. Zacks Investment Research raised shares of Exact Sciences Corporation from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Tuesday, September 26th. Finally, Canaccord Genuity raised shares of Exact Sciences Corporation to a “buy” rating and set a $60.00 target price on the stock in a research note on Tuesday. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $49.71.
TRADEMARK VIOLATION NOTICE: This report was originally reported by American Banking News and is owned by of American Banking News. If you are accessing this report on another site, it was stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this report can be accessed at https://www.americanbankingnews.com/2017/11/01/jefferies-group-brokers-boost-earnings-estimates-for-exact-sciences-corporation-exas.html. Exact Sciences Corporation (NASDAQ:EXAS) last announced its quarterly earnings data on Monday, October 30th. The medical research company reported ($0.23) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.07. Exact Sciences Corporation had a negative return on equity of 32.85% and a negative net margin of 60.71%. The business had revenue of $72.60 million for the quarter, compared to the consensus estimate of $65.03 million. During the same period in the previous year, the business earned ($0.36) earnings per share. The business’s revenue was up 158.4% on a year-over-year basis.
In other news, SVP D Scott Coward sold 29,115 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $47.16, for a total value of $1,373,063.40. Following the transaction, the senior vice president now owns 64,991 shares of the company’s stock, valued at approximately $3,064,975.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas D. Carey bought 2,500 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was acquired at an average cost of $37.71 per share, for a total transaction of $94,275.00. Following the purchase, the director now owns 60,858 shares in the company, valued at approximately $2,294,955.18. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 231,598 shares of company stock worth $10,182,030. 4.00% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. increased its stake in Exact Sciences Corporation by 0.8% during the 2nd quarter. Advisor Group Inc. now owns 7,866 shares of the medical research company’s stock worth $270,000 after buying an additional 65 shares during the period. Prudential Financial Inc. grew its holdings in Exact Sciences Corporation by 3.0% during the 1st quarter. Prudential Financial Inc. now owns 11,141 shares of the medical research company’s stock worth $263,000 after acquiring an additional 320 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in Exact Sciences Corporation by 5.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,640 shares of the medical research company’s stock worth $341,000 after acquiring an additional 511 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Exact Sciences Corporation by 17.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,072 shares of the medical research company’s stock worth $144,000 after acquiring an additional 600 shares in the last quarter. Finally, Lincoln National Corp grew its holdings in Exact Sciences Corporation by 7.8% during the 2nd quarter. Lincoln National Corp now owns 10,104 shares of the medical research company’s stock worth $357,000 after acquiring an additional 728 shares in the last quarter. 85.12% of the stock is currently owned by hedge funds and other institutional investors.
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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