EXACT Sciences Co. (NASDAQ:EXAS) – Dougherty & Co boosted their FY2019 EPS estimates for EXACT Sciences in a report released on Monday, January 13th. Dougherty & Co analyst K. Bauser now anticipates that the medical research company will post earnings per share of ($1.55) for the year, up from their prior forecast of ($1.59). Dougherty & Co currently has a “Buy” rating and a $120.00 price target on the stock. Dougherty & Co also issued estimates for EXACT Sciences’ Q4 2019 earnings at ($0.30) EPS.
Several other research analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of EXACT Sciences from a “hold” rating to a “buy” rating and set a $109.00 price objective on the stock in a research note on Thursday, October 17th. Jefferies Financial Group lowered their price objective on shares of EXACT Sciences from $138.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. BTIG Research began coverage on shares of EXACT Sciences in a research note on Friday, January 10th. They set a “buy” rating and a $127.00 price objective on the stock. BidaskClub upgraded shares of EXACT Sciences from a “hold” rating to a “buy” rating in a research note on Friday, January 10th. Finally, Citigroup began coverage on shares of EXACT Sciences in a research note on Monday, January 6th. They set a “buy” rating and a $120.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $122.06.
EXACT Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Tuesday, October 29th. The medical research company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.10. The firm had revenue of $218.81 million for the quarter, compared to analysts’ expectations of $216.14 million. EXACT Sciences had a negative net margin of 29.83% and a negative return on equity of 29.06%. The company’s revenue for the quarter was up 85.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.37) EPS.
In related news, insider G Bradley Cole sold 28,016 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $80.38, for a total value of $2,251,926.08. Following the transaction, the insider now owns 30,987 shares in the company, valued at approximately $2,490,735.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.20% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in EXAS. Nuveen Asset Management LLC acquired a new position in EXACT Sciences in the 2nd quarter valued at about $122,065,000. Vanguard Group Inc. grew its stake in EXACT Sciences by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 11,521,644 shares of the medical research company’s stock valued at $1,360,016,000 after buying an additional 309,043 shares during the last quarter. Victory Capital Management Inc. grew its stake in EXACT Sciences by 30.6% in the 2nd quarter. Victory Capital Management Inc. now owns 1,034,540 shares of the medical research company’s stock valued at $122,117,000 after buying an additional 242,225 shares during the last quarter. Macquarie Group Ltd. grew its stake in EXACT Sciences by 194.1% in the 2nd quarter. Macquarie Group Ltd. now owns 346,410 shares of the medical research company’s stock valued at $40,890,000 after buying an additional 228,639 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its stake in EXACT Sciences by 2,096.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 110,898 shares of the medical research company’s stock valued at $13,090,000 after buying an additional 105,850 shares during the last quarter. Institutional investors and hedge funds own 86.59% 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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