Braidwell LP Purchases New Shares in Exact Sciences Corporation $EXAS

Braidwell LP acquired a new stake in shares of Exact Sciences Corporation (NASDAQ:EXAS) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 414,600 shares of the medical research company’s stock, valued at approximately $22,683,000.

A number of other hedge funds have also recently bought and sold shares of EXAS. Westside Investment Management Inc. grew its stake in shares of Exact Sciences by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 542 shares of the medical research company’s stock worth $31,000 after acquiring an additional 271 shares in the last quarter. Country Trust Bank bought a new position in shares of Exact Sciences during the second quarter valued at about $32,000. Quent Capital LLC purchased a new position in Exact Sciences during the third quarter worth about $48,000. OFI Invest Asset Management boosted its holdings in Exact Sciences by 241.2% during the third quarter. OFI Invest Asset Management now owns 1,085 shares of the medical research company’s stock worth $59,000 after purchasing an additional 767 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in Exact Sciences by 47.6% in the 3rd quarter. Parallel Advisors LLC now owns 1,179 shares of the medical research company’s stock worth $65,000 after purchasing an additional 380 shares in the last quarter. 88.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EXAS has been the subject of several analyst reports. Canaccord Genuity Group lowered shares of Exact Sciences from a “buy” rating to a “hold” rating and increased their price objective for the company from $85.00 to $105.00 in a research note on Tuesday, November 25th. Zacks Research downgraded Exact Sciences from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $105.00 price target (up from $85.00) on shares of Exact Sciences in a research report on Thursday, November 20th. Robert W. Baird set a $105.00 price target on Exact Sciences in a report on Thursday, November 20th. Finally, Guggenheim cut Exact Sciences from a “buy” rating to a “neutral” rating in a research report on Thursday, November 20th. Twenty-one research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $92.13.

Exact Sciences Trading Up 0.3%

Shares of EXAS opened at $103.57 on Friday. Exact Sciences Corporation has a fifty-two week low of $38.81 and a fifty-two week high of $103.75. The business has a 50-day moving average of $102.83 and a 200 day moving average of $83.86. The firm has a market cap of $19.77 billion, a P/E ratio of -94.15, a price-to-earnings-growth ratio of 2.36 and a beta of 1.41. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.17 and a current ratio of 2.43.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Friday, February 13th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.29). Exact Sciences had a negative net margin of 6.40% and a positive return on equity of 0.53%. Exact Sciences’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.06) EPS. As a group, research analysts forecast that Exact Sciences Corporation will post -0.58 EPS for the current year.

Exact Sciences Company Profile

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.