Zacks: Analysts Anticipate EXACT Sciences Co. (EXAS) Will Announce Quarterly Sales of $76.55 Million

Wall Street analysts predict that EXACT Sciences Co. (NASDAQ:EXAS) will post $76.55 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for EXACT Sciences’ earnings. The highest sales estimate is $79.93 million and the lowest is $68.50 million. EXACT Sciences reported sales of $35.24 million in the same quarter last year, which would indicate a positive year over year growth rate of 117.2%. The company is scheduled to report its next quarterly earnings results on Tuesday, February 20th.

On average, analysts expect that EXACT Sciences will report full year sales of $76.55 million for the current financial year, with estimates ranging from $236.73 million to $258.51 million. For the next fiscal year, analysts anticipate that the firm will report sales of $400.91 million per share, with estimates ranging from $351.05 million to $436.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow EXACT Sciences.

EXACT Sciences (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 consensus estimate of ($0.30) by $0.07. EXACT Sciences had a negative return on equity of 30.32% and a negative net margin of 60.71%. The firm 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 business posted ($0.36) earnings per share. The company’s revenue for the quarter was up 158.4% on a year-over-year basis.

Several equities research analysts have recently weighed in on EXAS shares. Leerink Swann set a $45.00 price target on EXACT Sciences and gave the stock a “buy” rating in a report on Thursday, August 24th. Robert W. Baird reiterated a “buy” rating and issued a $49.00 price target on shares of EXACT Sciences in a report on Friday, October 6th. Bank of America set a $56.00 price target on EXACT Sciences and gave the stock a “buy” rating in a report on Thursday, October 19th. Canaccord Genuity upgraded EXACT Sciences to a “buy” rating and set a $60.00 price target on the stock in a report on Tuesday, October 31st. Finally, Zacks Investment Research upgraded EXACT Sciences from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Tuesday, September 26th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $50.58.

Shares of EXACT Sciences (NASDAQ EXAS) opened at $57.95 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.98 and a current ratio of 10.34. EXACT Sciences has a fifty-two week low of $13.05 and a fifty-two week high of $63.60.

In other EXACT Sciences news, insider Graham Peter Lidgard sold 75,683 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $40.81, for a total transaction of $3,088,623.23. Following the transaction, the insider now directly owns 308,377 shares in the company, valued at approximately $12,584,865.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP D Scott Coward sold 29,115 shares of the firm’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 transaction, the senior vice president now owns 64,991 shares in the company, valued at $3,064,975.56. The disclosure for this sale can be found here. Insiders have sold a total of 503,460 shares of company stock worth $26,862,545 over the last 90 days. 4.00% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. State of Wisconsin Investment Board bought a new stake in EXACT Sciences during the 2nd quarter valued at $3,006,000. Victory Capital Management Inc. bought a new stake in EXACT Sciences during the 2nd quarter valued at $29,450,000. Eagle Asset Management Inc. boosted its position in EXACT Sciences by 19.6% during the 2nd quarter. Eagle Asset Management Inc. now owns 1,857,185 shares of the medical research company’s stock valued at $65,688,000 after acquiring an additional 304,598 shares in the last quarter. Chicago Equity Partners LLC bought a new stake in EXACT Sciences during the 3rd quarter valued at $2,312,000. Finally, Bank of Nova Scotia bought a new stake in EXACT Sciences during the 2nd quarter valued at $1,482,000. 82.35% of the stock is currently owned by institutional investors and hedge funds.

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EXACT Sciences 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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Earnings History and Estimates for EXACT Sciences (NASDAQ:EXAS)

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