Brown Advisory Inc. boosted its holdings in EXACT Sciences Co. (NASDAQ:EXAS) by 11.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,326 shares of the medical research company’s stock after acquiring an additional 3,787 shares during the quarter. Brown Advisory Inc.’s holdings in EXACT Sciences were worth $2,867,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Cornerstone Wealth Management LLC acquired a new stake in EXACT Sciences in the 2nd quarter valued at approximately $182,000. Chicago Partners Investment Group LLC boosted its stake in EXACT Sciences by 47.6% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 3,100 shares of the medical research company’s stock valued at $191,000 after purchasing an additional 1,000 shares in the last quarter. Fulton Bank N.A. bought a new position in EXACT Sciences during the 3rd quarter valued at $208,000. Alps Advisors Inc. bought a new position in EXACT Sciences during the 2nd quarter valued at $210,000. Finally, Crossmark Global Holdings Inc. bought a new position in EXACT Sciences during the 3rd quarter valued at $220,000. Hedge funds and other institutional investors own 92.25% of the company’s stock.
A number of equities analysts have issued reports on the company. BidaskClub raised EXACT Sciences from a “hold” rating to a “buy” rating in a research note on Wednesday, September 26th. Cowen increased their price target on EXACT Sciences from $65.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, September 5th. Benchmark reaffirmed a “hold” rating on shares of EXACT Sciences in a research note on Wednesday, September 5th. UBS Group set a $100.00 price target on EXACT Sciences and gave the company a “buy” rating in a research note on Thursday, November 29th. Finally, Robert W. Baird increased their price target on EXACT Sciences from $74.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, September 11th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $84.08.
EXAS opened at $71.70 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 11.72 and a current ratio of 12.08. EXACT Sciences Co. has a fifty-two week low of $37.36 and a fifty-two week high of $82.85.
EXACT Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Tuesday, October 30th. The medical research company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.05. The business had revenue of $118.29 million during the quarter, compared to analyst estimates of $109.33 million. EXACT Sciences had a negative return on equity of 20.18% and a negative net margin of 35.83%. The company’s revenue was up 63.0% compared to the same quarter last year. During the same period last year, the company posted ($0.23) EPS. As a group, analysts forecast that EXACT Sciences Co. will post -1.51 EPS for the current fiscal year.
In other news, insider D Scott Coward sold 2,190 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $79.51, for a total transaction of $174,126.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kevin T. Conroy sold 163,514 shares of the firm’s stock in a transaction on Monday, November 12th. The stock was sold at an average price of $69.00, for a total value of $11,282,466.00. Following the sale, the insider now directly owns 886,011 shares of the company’s stock, valued at $61,134,759. The disclosure for this sale can be found here. Over the last three months, insiders have sold 386,968 shares of company stock valued at $27,418,499. Corporate insiders own 3.20% of the company’s stock.
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About EXACT Sciences
Exact Sciences Corporation, a molecular diagnostics company, focuses on developing products for the early detection and prevention of various cancers in the United States. The company offers Cologuard, a non-invasive stool-based DNA screening test for the early detection of colorectal cancer and pre-cancer.
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