Zacks: Analysts Expect EXACT Sciences Co. (EXAS) Will Post Quarterly Sales of $87.30 Million

Wall Street analysts expect EXACT Sciences Co. (NASDAQ:EXAS) to report $87.30 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for EXACT Sciences’ earnings. The lowest sales estimate is $87.10 million and the highest is $87.50 million. EXACT Sciences reported sales of $35.24 million during the same quarter last year, which indicates a positive year-over-year growth rate of 147.7%. The firm is expected to issue its next earnings results after the market closes on Thursday, February 22nd.

According to Zacks, analysts expect that EXACT Sciences will report full year sales of $87.30 million for the current year, with estimates ranging from $258.23 million to $265.70 million. For the next financial year, analysts anticipate that the company will report sales of $409.34 million per share, with estimates ranging from $388.10 million to $428.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for EXACT Sciences.

Several equities research analysts have commented on EXAS shares. Canaccord Genuity upgraded EXACT Sciences to a “buy” rating and set a $60.00 price objective on the stock in a research report on Tuesday, October 31st. Leerink Swann restated an “outperform” rating and issued a $67.00 price objective (up previously from $63.00) on shares of EXACT Sciences in a research report on Monday, November 13th. BidaskClub upgraded EXACT Sciences from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Benchmark set a $65.00 price objective on EXACT Sciences and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, Robert W. Baird upped their price objective on EXACT Sciences from $49.00 to $56.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 31st. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $52.84.

Shares of EXACT Sciences (NASDAQ EXAS) opened at $45.90 on Friday. The company has a market capitalization of $5,495.61, a P/E ratio of -39.57 and a beta of 0.58. EXACT Sciences has a 52-week low of $18.30 and a 52-week high of $63.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.34 and a quick ratio of 9.98.

In other news, SVP D Scott Coward sold 1,665 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $52.54, for a total transaction of $87,479.10. Following the completion of the transaction, the senior vice president now directly owns 37,558 shares of the company’s stock, valued at approximately $1,973,297.32. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Kevin T. Conroy sold 110,439 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $50.49, for a total value of $5,576,065.11. Following the transaction, the insider now directly owns 940,491 shares of the company’s stock, valued at $47,485,390.59. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 662,694 shares of company stock valued at $35,934,015. Corporate insiders own 4.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. American International Group Inc. raised its stake in shares of EXACT Sciences by 1.5% during the 4th quarter. American International Group Inc. now owns 79,238 shares of the medical research company’s stock worth $4,163,000 after buying an additional 1,207 shares during the period. BlackRock Inc. raised its stake in shares of EXACT Sciences by 1.7% during the 4th quarter. BlackRock Inc. now owns 7,658,145 shares of the medical research company’s stock worth $402,358,000 after buying an additional 126,513 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in shares of EXACT Sciences by 8.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 41,722 shares of the medical research company’s stock worth $2,192,000 after buying an additional 3,187 shares during the period. State of Wisconsin Investment Board raised its stake in shares of EXACT Sciences by 9.0% during the 4th quarter. State of Wisconsin Investment Board now owns 116,853 shares of the medical research company’s stock worth $6,139,000 after buying an additional 9,600 shares during the period. Finally, Advisory Services Network LLC raised its stake in shares of EXACT Sciences by 6,600.0% during the 4th quarter. Advisory Services Network LLC now owns 3,350 shares of the medical research company’s stock worth $176,000 after buying an additional 3,300 shares during the period. 82.32% of the stock is 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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