William Blair Reaffirms “Buy” Rating for EXACT Sciences (NASDAQ:EXAS)

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William Blair reissued their buy rating on shares of EXACT Sciences (NASDAQ:EXAS) in a research note released on Tuesday morning, TipRanks reports.

Other analysts have also issued reports about the stock. Cowen upped their price target on shares of EXACT Sciences from $125.00 to $135.00 and gave the stock an outperform rating in a research report on Monday, July 29th. They noted that the move was a valuation call. Canaccord Genuity reaffirmed a buy rating and set a $135.00 price target on shares of EXACT Sciences in a research report on Tuesday. Craig Hallum upped their price target on shares of EXACT Sciences from $115.00 to $127.00 and gave the stock a buy rating in a research report on Tuesday, July 30th. Zacks Investment Research raised shares of EXACT Sciences from a hold rating to a buy rating and set a $129.00 price target on the stock in a research report on Thursday, August 1st. Finally, BidaskClub lowered shares of EXACT Sciences from a buy rating to a hold rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $126.22.

EXAS traded down $1.28 during trading on Tuesday, reaching $107.41. The company had a trading volume of 5,251 shares, compared to its average volume of 1,209,627. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.79 and a quick ratio of 2.69. EXACT Sciences has a 12 month low of $53.06 and a 12 month high of $123.99. The business’s fifty day moving average price is $117.24 and its 200 day moving average price is $104.81. The company has a market cap of $14.12 billion, a P/E ratio of -79.14 and a beta of 1.49.

EXACT Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Monday, July 29th. The medical research company reported ($0.30) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.56) by $0.26. EXACT Sciences had a negative net margin of 35.43% and a negative return on equity of 28.90%. The firm had revenue of $199.87 million for the quarter, compared to analyst estimates of $182.18 million. During the same quarter in the previous year, the firm posted ($0.30) earnings per share. The business’s revenue was up 94.3% on a year-over-year basis. As a group, sell-side analysts predict that EXACT Sciences will post -1.74 EPS for the current fiscal year.

In other EXACT Sciences news, Director Katherine S. Zanotti sold 1,744 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.93, for a total value of $205,669.92. Following the transaction, the director now directly owns 42,844 shares in the company, valued at $5,052,592.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jeffrey Thomas Elliott sold 9,845 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $105.60, for a total transaction of $1,039,632.00. Following the completion of the transaction, the chief financial officer now owns 41,012 shares in the company, valued at $4,330,867.20. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in the business. NumerixS Investment Technologies Inc acquired a new position in shares of EXACT Sciences in the second quarter valued at about $35,000. Mosaic Family Wealth LLC acquired a new position in shares of EXACT Sciences in the first quarter valued at about $37,000. Manchester Capital Management LLC acquired a new position in shares of EXACT Sciences in the first quarter valued at about $39,000. Parallel Advisors LLC grew its stake in shares of EXACT Sciences by 196.2% in the first quarter. Parallel Advisors LLC now owns 471 shares of the medical research company’s stock valued at $41,000 after acquiring an additional 312 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of EXACT Sciences in the second quarter valued at about $43,000. Hedge funds and other institutional investors own 89.56% of the company’s stock.

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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Analyst Recommendations for EXACT Sciences (NASDAQ:EXAS)

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