EXACT Sciences (EXAS) Raised to Buy at BTIG Research

BTIG Research upgraded shares of EXACT Sciences (NASDAQ:EXAS) from a neutral rating to a buy rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports.

Several other equities analysts have also commented on the stock. Bank of America set a $67.00 price objective on shares of EXACT Sciences and gave the company a buy rating in a research report on Monday, January 8th. Benchmark set a $65.00 price objective on shares of EXACT Sciences and gave the company a buy rating in a research report on Wednesday, January 17th. William Blair reiterated a buy rating on shares of EXACT Sciences in a research report on Tuesday, January 2nd. Zacks Investment Research lowered shares of EXACT Sciences from a buy rating to a hold rating in a research report on Friday, January 19th. Finally, BidaskClub lowered shares of EXACT Sciences from a buy rating to a hold rating in a research report on Tuesday, December 12th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of Buy and an average price target of $52.84.

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EXAS stock opened at $37.84 on Tuesday. EXACT Sciences has a 52 week low of $22.30 and a 52 week high of $63.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.15 and a quick ratio of 6.77. The firm has a market cap of $4,898.13, a price-to-earnings ratio of -38.22 and a beta of 0.87.

EXACT Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Thursday, February 22nd. The medical research company reported ($0.18) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.09. EXACT Sciences had a negative net margin of 43.01% and a negative return on equity of 24.13%. The business had revenue of $87.41 million during the quarter, compared to analyst estimates of $87.42 million. During the same quarter last year, the business earned ($0.34) earnings per share. EXACT Sciences’s quarterly revenue was up 148.0% compared to the same quarter last year. research analysts anticipate that EXACT Sciences will post -0.92 EPS for the current fiscal year.

In other news, insider Graham Peter Lidgard sold 39,884 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $43.10, for a total value of $1,719,000.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP D Scott Coward sold 2,122 shares of the firm’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $40.12, for a total transaction of $85,134.64. The disclosure for this sale can be found here. Insiders sold a total of 449,995 shares of company stock valued at $21,876,323 in the last 90 days. Company insiders own 4.00% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in EXAS. Carillon Tower Advisers Inc. bought a new stake in shares of EXACT Sciences in the 4th quarter worth about $66,280,000. Victory Capital Management Inc. lifted its holdings in EXACT Sciences by 82.9% during the 4th quarter. Victory Capital Management Inc. now owns 1,189,560 shares of the medical research company’s stock valued at $62,499,000 after buying an additional 539,160 shares in the last quarter. Emerald Advisers Inc. PA bought a new stake in EXACT Sciences during the 4th quarter valued at about $21,813,000. Jennison Associates LLC lifted its holdings in EXACT Sciences by 258.9% during the 4th quarter. Jennison Associates LLC now owns 518,589 shares of the medical research company’s stock valued at $27,247,000 after buying an additional 374,078 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in EXACT Sciences by 41.6% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 723,738 shares of the medical research company’s stock valued at $34,103,000 after buying an additional 212,697 shares in the last quarter. Hedge funds and other institutional investors own 82.02% of the company’s stock.

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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.

Analyst Recommendations for EXACT Sciences (NASDAQ:EXAS)

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