Exact Sciences Corporation (EXAS) Stock Rating Reaffirmed by Canaccord Genuity
Exact Sciences Corporation (NASDAQ:EXAS)‘s stock had its “buy” rating reiterated by equities research analysts at Canaccord Genuity in a research note issued on Tuesday. They currently have a $60.00 price target on the medical research company’s stock, up from their prior price target of $45.00. Canaccord Genuity’s price target would suggest a potential upside of 25.03% from the stock’s previous close.
Other equities analysts have also issued research reports about the company. Vetr raised Exact Sciences Corporation from a “sell” rating to a “hold” rating and set a $36.55 price target on the stock in a research note on Tuesday, July 25th. Roth Capital increased their target price on Exact Sciences Corporation from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Lake Street Capital increased their target price on Exact Sciences Corporation from $30.00 to $41.00 and gave the stock a “hold” rating in a research note on Wednesday, July 26th. BTIG Research reissued a “buy” rating and set a $45.00 target price (up previously from $35.00) on shares of Exact Sciences Corporation in a research note on Monday, July 17th. Finally, Craig Hallum reissued a “buy” rating and set a $46.00 target price (up previously from $41.00) on shares of Exact Sciences Corporation in a research note on Wednesday, July 26th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $43.11.
Shares of Exact Sciences Corporation (NASDAQ:EXAS) traded down 0.17% during trading on Tuesday, hitting $47.91. The stock had a trading volume of 169,170 shares. Exact Sciences Corporation has a 12 month low of $13.05 and a 12 month high of $50.65. The stock’s market cap is $5.71 billion. The company’s 50 day moving average price is $42.81 and its 200 day moving average price is $34.86.
Exact Sciences Corporation (NASDAQ:EXAS) last announced its quarterly earnings results on Tuesday, July 25th. The medical research company reported ($0.27) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.10. Exact Sciences Corporation had a negative return on equity of 36.36% and a negative net margin of 83.08%. The business had revenue of $57.65 million for the quarter, compared to analyst estimates of $47.73 million. Equities research analysts expect that Exact Sciences Corporation will post ($1.18) earnings per share for the current fiscal year.
In related news, CFO Jeffrey Thomas Elliott sold 5,846 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $39.41, for a total value of $230,390.86. Following the completion of the sale, the chief financial officer now directly owns 19,861 shares of the company’s stock, valued at approximately $782,722.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas D. Carey bought 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was purchased at an average cost of $37.71 per share, with a total value of $94,275.00. Following the completion of the transaction, the director now owns 60,858 shares in the company, valued at $2,294,955.18. The disclosure for this purchase can be found here. Over the last three months, insiders sold 237,444 shares of company stock valued at $10,412,421. Insiders own 4.00% of the company’s stock.
A number of institutional investors have recently bought and sold shares of EXAS. Fortaleza Asset Management Inc. acquired a new stake in Exact Sciences Corporation during the 2nd quarter worth approximately $106,000. Krilogy Financial LLC lifted its position in Exact Sciences Corporation by 1,460.0% during the 2nd quarter. Krilogy Financial LLC now owns 3,900 shares of the medical research company’s stock worth $138,000 after acquiring an additional 3,650 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Exact Sciences Corporation by 17.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,072 shares of the medical research company’s stock worth $144,000 after acquiring an additional 600 shares during the period. Financial Architects Inc lifted its position in Exact Sciences Corporation by 90.0% during the 2nd quarter. Financial Architects Inc now owns 4,295 shares of the medical research company’s stock worth $152,000 after acquiring an additional 2,035 shares during the period. Finally, Johnson Financial Group Inc. lifted its position in Exact Sciences Corporation by 25.9% during the 2nd quarter. Johnson Financial Group Inc. now owns 4,862 shares of the medical research company’s stock worth $172,000 after acquiring an additional 1,000 shares during the period. 85.23% of the stock is owned by institutional investors.
Exact Sciences Corporation Company Profile
Exact Sciences Corporation is a molecular diagnostics company. The Company focuses on the early detection and prevention of some forms of cancer. It offers a non-invasive screening test called Cologuard for the early detection of colorectal cancer and pre-cancer. Its Cologuard test is a stool-based deoxyribonucleic acid (sDNA) screening test, which utilizes a multi-target approach to detect deoxyribonucleic acid (DNA) and hemoglobin biomarkers associated with colorectal cancer and pre-cancer.
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