EXACT Sciences Co. (EXAS) Expected to Post Earnings of -$0.29 Per Share

Wall Street brokerages predict that EXACT Sciences Co. (NASDAQ:EXAS) will report earnings per share (EPS) of ($0.29) for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for EXACT Sciences’ earnings, with the lowest EPS estimate coming in at ($0.31) and the highest estimate coming in at ($0.26). EXACT Sciences reported earnings per share of ($0.34) during the same quarter last year, which indicates a positive year over year growth rate of 14.7%. The business is expected to issue its next earnings results on Tuesday, February 20th.

According to Zacks, analysts expect that EXACT Sciences will report full year earnings of ($1.10) per share for the current financial year, with EPS estimates ranging from ($1.12) to ($1.08). For the next financial year, analysts expect that the company will report earnings of ($0.66) per share, with EPS estimates ranging from ($0.84) to ($0.09). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for EXACT Sciences.

EXACT Sciences (NASDAQ:EXAS) last released its quarterly earnings results on Monday, October 30th. The medical research company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.07. The company had revenue of $72.60 million for the quarter, compared to analyst estimates of $65.03 million. EXACT Sciences had a negative return on equity of 30.32% and a negative net margin of 60.71%. The firm’s revenue was up 158.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.36) earnings per share.

EXAS has been the topic of several research analyst reports. Robert W. Baird reaffirmed a “buy” rating and set a $49.00 price target on shares of EXACT Sciences in a research report on Friday, October 6th. Bank of America set a $56.00 target price on EXACT Sciences and gave the company a “buy” rating in a report on Thursday, October 19th. Canaccord Genuity raised EXACT Sciences to a “buy” rating and set a $60.00 target price on the stock in a report on Tuesday, October 31st. Zacks Investment Research raised EXACT Sciences from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Tuesday, September 26th. Finally, Leerink Swann reissued an “outperform” rating and issued a $63.00 target price (up previously from $50.00) on shares of EXACT Sciences in a report on Tuesday, October 31st. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $50.58.

In related news, CEO Kevin T. Conroy sold 137,805 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $59.14, for a total transaction of $8,149,787.70. Following the transaction, the chief executive officer now owns 967,867 shares of the company’s stock, valued at $57,239,654.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kevin T. Conroy sold 134,057 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $59.50, for a total value of $7,976,391.50. The disclosure for this sale can be found here. In the last three months, insiders sold 610,433 shares of company stock worth $34,341,306. Corporate insiders own 4.00% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Chicago Equity Partners LLC acquired a new position in EXACT Sciences during the third quarter worth $2,312,000. Bank of Nova Scotia acquired a new position in EXACT Sciences during the second quarter worth $1,482,000. Federated Investors Inc. PA grew its holdings in EXACT Sciences by 53.3% during the second quarter. Federated Investors Inc. PA now owns 34,553 shares of the medical research company’s stock worth $1,222,000 after acquiring an additional 12,018 shares during the period. Stifel Financial Corp grew its holdings in EXACT Sciences by 16.5% during the second quarter. Stifel Financial Corp now owns 25,023 shares of the medical research company’s stock worth $888,000 after acquiring an additional 3,548 shares during the period. Finally, Sit Investment Associates Inc. grew its holdings in EXACT Sciences by 168.2% during the third quarter. Sit Investment Associates Inc. now owns 29,900 shares of the medical research company’s stock worth $1,409,000 after acquiring an additional 18,750 shares during the period. 82.39% of the stock is currently owned by hedge funds and other institutional investors.

EXACT Sciences (EXAS) opened at $57.53 on Friday. The company has a market capitalization of $6,890.00, a P/E ratio of -50.03 and a beta of 0.68. EXACT Sciences has a 12-month low of $14.60 and a 12-month high of $63.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.98 and a current ratio of 10.34.

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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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