Leerink Swann Research Analysts Lift Earnings Estimates for Exact Sciences Corporation (EXAS)
Exact Sciences Corporation (NASDAQ:EXAS) – Research analysts at Leerink Swann increased their FY2017 EPS estimates for Exact Sciences Corporation in a report released on Monday. Leerink Swann analyst P. Souda now expects that the medical research company will post earnings of ($1.10) per share for the year, up from their previous estimate of ($1.27). Leerink Swann has a “Outperform” rating and a $63.00 price objective on the stock. Leerink Swann also issued estimates for Exact Sciences Corporation’s Q4 2017 earnings at ($0.29) EPS, Q1 2018 earnings at ($0.26) EPS, Q2 2018 earnings at ($0.21) EPS, Q3 2018 earnings at ($0.14) EPS, Q4 2018 earnings at ($0.09) EPS, FY2018 earnings at ($0.69) EPS and FY2019 earnings at $0.26 EPS.
Several other equities analysts also recently issued reports on EXAS. Vetr downgraded shares of Exact Sciences Corporation from a “buy” rating to a “hold” rating and set a $36.37 price objective on the stock. in a report on Thursday, July 6th. Craig Hallum upped their price objective on Exact Sciences Corporation from $35.00 to $41.00 in a research report on Friday, July 7th. 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. BTIG Research restated a “buy” rating and issued a $45.00 price objective (up previously from $35.00) on shares of Exact Sciences Corporation in a research report on Monday, July 17th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $42.00 target price (up from $38.00) on shares of Exact Sciences Corporation in a research note on Thursday, July 20th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Exact Sciences Corporation presently has an average rating of “Buy” and an average target price of $49.71.
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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 net margin of 60.71% and a negative return on equity of 30.32%. The company had revenue of $72.60 million for the quarter, compared to the consensus estimate of $65.03 million. During the same period in the prior year, the firm posted ($0.36) EPS. Exact Sciences Corporation’s revenue for the quarter was up 158.4% on a year-over-year basis.
In other news, insider Graham Peter Lidgard sold 81,025 shares of the business’s 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 completion of the transaction, the insider now directly owns 366,519 shares of the company’s stock, valued at $17,285,036.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP D Scott Coward sold 29,115 shares of the business’s stock in a transaction on 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 $3,064,975.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 231,598 shares of company stock worth $10,182,030. 4.00% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fortaleza Asset Management Inc. acquired a new position in Exact Sciences Corporation in the second quarter valued at $106,000. Krilogy Financial LLC increased its stake in Exact Sciences Corporation by 1,460.0% during the second quarter. Krilogy Financial LLC now owns 3,900 shares of the medical research company’s stock worth $138,000 after acquiring an additional 3,650 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Exact Sciences Corporation by 17.3% during the second 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 during the last quarter. Financial Architects Inc increased its stake in Exact Sciences Corporation by 90.0% during the second quarter. Financial Architects Inc now owns 4,295 shares of the medical research company’s stock worth $152,000 after acquiring an additional 2,035 shares during the last quarter. Finally, Johnson Financial Group Inc. increased its stake in Exact Sciences Corporation by 25.9% during the second quarter. Johnson Financial Group Inc. now owns 4,862 shares of the medical research company’s stock worth $172,000 after acquiring an additional 1,000 shares during the last quarter. 85.12% of the stock is owned by 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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