FY2017 EPS Estimates for Exact Sciences Corporation Increased by Jefferies Group (EXAS)
Exact Sciences Corporation (NASDAQ:EXAS) – Equities researchers at Jefferies Group raised their FY2017 earnings per share estimates for Exact Sciences Corporation in a report issued on Tuesday. Jefferies Group analyst B. Couillard now anticipates that the medical research company will post earnings of ($1.12) per share for the year, up from their prior estimate of ($1.21). Jefferies Group currently has a “Buy” rating and a $60.00 target price on the stock. Jefferies Group also issued estimates for Exact Sciences Corporation’s Q4 2017 earnings at ($0.31) EPS, Q1 2018 earnings at ($0.25) EPS, Q4 2018 earnings at ($0.16) EPS and FY2019 earnings at $0.04 EPS.
Exact Sciences Corporation (NASDAQ:EXAS) last posted its quarterly earnings data on Monday, October 30th. The medical research company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.07. The company had revenue of $72.60 million for the quarter, compared to the consensus estimate of $65.03 million. Exact Sciences Corporation had a negative net margin of 60.71% and a negative return on equity of 30.32%. The firm’s revenue was up 158.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.36) earnings per share.
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A number of other analysts also recently issued reports on the company. Vetr downgraded Exact Sciences Corporation from a “hold” rating to a “sell” rating and set a $34.70 price objective for the company. in a research report on Wednesday, July 12th. Bank of America Corporation set a $56.00 price objective on Exact Sciences Corporation and gave the stock a “buy” rating in a research report on Thursday, October 19th. BidaskClub raised Exact Sciences Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 25th. Canaccord Genuity reissued a “buy” rating and set a $45.00 price objective on shares of Exact Sciences Corporation in a research report on Thursday, September 7th. Finally, Benchmark Co. set a $50.00 price objective on Exact Sciences Corporation and gave the stock a “buy” rating in a research report on Friday, July 7th. Six 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 company currently has an average rating of “Buy” and a consensus target price of $49.71.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Exact Sciences Corporation by 8.0% in the 2nd quarter. Vanguard Group Inc. now owns 9,459,679 shares of the medical research company’s stock valued at $334,589,000 after buying an additional 700,051 shares during the period. BlackRock Inc. boosted its stake in shares of Exact Sciences Corporation by 1.2% in the 2nd quarter. BlackRock Inc. now owns 6,884,886 shares of the medical research company’s stock valued at $243,518,000 after buying an additional 80,589 shares during the period. Fred Alger Management Inc. purchased a new position in shares of Exact Sciences Corporation in the 2nd quarter valued at about $84,177,000. Lord Abbett & CO. LLC boosted its stake in shares of Exact Sciences Corporation by 59.1% in the 2nd quarter. Lord Abbett & CO. LLC now owns 2,356,706 shares of the medical research company’s stock valued at $83,357,000 after buying an additional 875,527 shares during the period. Finally, FMR LLC boosted its stake in shares of Exact Sciences Corporation by 32.7% in the 2nd quarter. FMR LLC now owns 2,318,269 shares of the medical research company’s stock valued at $81,997,000 after buying an additional 571,796 shares during the period. 85.12% of the stock is owned by institutional investors.
In other Exact Sciences Corporation news, SVP D Scott Coward sold 29,115 shares of Exact Sciences Corporation stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $47.16, for a total value of $1,373,063.40. Following the completion of the transaction, the senior vice president now directly 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 SEC, which is accessible through this hyperlink. Also, Director Thomas D. Carey bought 2,500 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was purchased at an average cost of $37.71 per share, with a total value of $94,275.00. Following the completion of the transaction, the director now owns 60,858 shares in the company, valued at $2,294,955.18. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 231,598 shares of company stock valued at $10,182,030. 4.00% of the stock is currently owned by corporate insiders.
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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