Wall Street analysts predict that EXACT Sciences Co. (NASDAQ:EXAS) will report sales of $356.11 million for the current quarter, according to Zacks. Seven analysts have made estimates for EXACT Sciences’ earnings. The lowest sales estimate is $322.90 million and the highest is $384.26 million. EXACT Sciences reported sales of $218.81 million during the same quarter last year, which indicates a positive year-over-year growth rate of 62.7%. The firm is expected to report its next quarterly earnings results on Tuesday, November 3rd.
According to Zacks, analysts expect that EXACT Sciences will report full-year sales of $1.39 billion for the current fiscal year, with estimates ranging from $1.32 billion to $1.44 billion. For the next year, analysts forecast that the firm will post sales of $1.91 billion, with estimates ranging from $1.75 billion to $2.07 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow EXACT Sciences.
EXACT Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Thursday, July 30th. The medical research company reported ($0.58) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.62) by $0.04. The firm had revenue of $268.87 million for the quarter, compared to analyst estimates of $229.62 million. EXACT Sciences had a negative return on equity of 13.32% and a negative net margin of 13.65%.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded EXACT Sciences from a “hold” rating to a “buy” rating and set a $97.00 price objective on the stock in a research report on Monday, July 13th. Oppenheimer restated a “buy” rating on shares of EXACT Sciences in a research report on Wednesday, July 8th. SVB Leerink lifted their price target on EXACT Sciences from $90.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Citigroup lifted their price target on EXACT Sciences from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, BidaskClub lowered EXACT Sciences from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $105.80.
Shares of EXAS stock opened at $76.01 on Thursday. The firm has a market cap of $11.41 billion, a P/E ratio of -71.71 and a beta of 1.70. EXACT Sciences has a fifty-two week low of $35.25 and a fifty-two week high of $113.10. The business’s 50 day moving average price is $82.24 and its 200-day moving average price is $78.97. The company has a debt-to-equity ratio of 0.62, a quick ratio of 6.40 and a current ratio of 6.77.
In other news, Director Katherine S. Zanotti sold 1,164 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $96.13, for a total value of $111,895.32. Following the completion of the transaction, the director now owns 41,907 shares in the company, valued at $4,028,519.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kevin T. Conroy sold 19,927 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $75.03, for a total value of $1,495,122.81. The disclosure for this sale can be found here. Insiders sold 65,538 shares of company stock valued at $5,721,343 in the last 90 days. Company insiders own 1.80% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC increased its position in EXACT Sciences by 13.5% during the second quarter. Parallel Advisors LLC now owns 901 shares of the medical research company’s stock valued at $78,000 after acquiring an additional 107 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in EXACT Sciences by 21.5% during the second quarter. Steward Partners Investment Advisory LLC now owns 706 shares of the medical research company’s stock valued at $61,000 after acquiring an additional 125 shares during the last quarter. CSat Investment Advisory L.P. increased its position in EXACT Sciences by 18.8% during the first quarter. CSat Investment Advisory L.P. now owns 826 shares of the medical research company’s stock valued at $48,000 after acquiring an additional 131 shares during the last quarter. Synovus Financial Corp increased its position in EXACT Sciences by 16.6% during the second quarter. Synovus Financial Corp now owns 982 shares of the medical research company’s stock valued at $85,000 after acquiring an additional 140 shares during the last quarter. Finally, Curbstone Financial Management Corp increased its position in EXACT Sciences by 0.7% during the second quarter. Curbstone Financial Management Corp now owns 21,150 shares of the medical research company’s stock valued at $1,839,000 after acquiring an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 87.15% of the company’s stock.
EXACT Sciences Company Profile
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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