EXACT Sciences (NASDAQ:EXAS) had its price target increased by equities researchers at Benchmark from $90.00 to $110.00 in a research note issued on Friday, The Fly reports. The brokerage currently has a “buy” rating on the medical research company’s stock. Benchmark’s price target would suggest a potential upside of 16.09% from the stock’s previous close.
A number of other equities analysts have also recently issued reports on EXAS. Citigroup increased their price target on EXACT Sciences from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday. Canaccord Genuity cut their price target on EXACT Sciences from $120.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Oppenheimer reiterated a “buy” rating on shares of EXACT Sciences in a report on Wednesday, July 8th. Craig Hallum cut their target price on EXACT Sciences from $99.00 to $92.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Finally, Bank of America increased their target price on EXACT Sciences from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Eighteen research analysts have rated the stock with a buy rating, EXACT Sciences has an average rating of “Buy” and an average target price of $105.80.
Shares of EXACT Sciences stock traded down $3.15 on Friday, reaching $94.75. 2,653,309 shares of the company’s stock were exchanged, compared to its average volume of 1,106,099. The company has a market capitalization of $14.21 billion, a P/E ratio of -89.39 and a beta of 1.89. EXACT Sciences has a 52 week low of $35.25 and a 52 week high of $123.31. The firm’s 50-day moving average is $90.52 and its two-hundred day moving average is $81.95. The company has a debt-to-equity ratio of 0.64, a quick ratio of 5.81 and a current ratio of 6.09.
EXACT Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Thursday, July 30th. The medical research company reported ($0.58) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.04. The firm had revenue of $268.87 million for the quarter, compared to analysts’ expectations of $229.62 million. EXACT Sciences had a negative return on equity of 14.49% and a negative net margin of 13.65%. On average, analysts expect that EXACT Sciences will post -1.63 EPS for the current fiscal year.
In other news, Director Katherine S. Zanotti sold 1,164 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $96.13, for a total transaction of $111,895.32. Following the completion of the sale, the director now directly owns 41,907 shares of the company’s stock, valued at approximately $4,028,519.91. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Jeffrey Thomas Elliott sold 8,746 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $95.58, for a total value of $835,942.68. Following the sale, the chief financial officer now directly owns 59,109 shares of the company’s stock, valued at $5,649,638.22. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.
Several institutional investors have recently made changes to their positions in EXAS. Guggenheim Capital LLC boosted its position in shares of EXACT Sciences by 29.5% during the 4th quarter. Guggenheim Capital LLC now owns 63,823 shares of the medical research company’s stock valued at $5,902,000 after acquiring an additional 14,554 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of EXACT Sciences by 67.2% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 16,818 shares of the medical research company’s stock valued at $1,562,000 after acquiring an additional 6,758 shares during the last quarter. Sunbelt Securities Inc. bought a new stake in shares of EXACT Sciences during the 4th quarter valued at about $8,670,000. Verus Capital Partners LLC bought a new stake in EXACT Sciences in the 4th quarter worth approximately $45,000. Finally, Norges Bank bought a new stake in EXACT Sciences in the 4th quarter worth approximately $127,617,000. 86.66% of the stock is owned by hedge funds and other institutional investors.
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.
Recommended Story: Diversification in Investing
Receive News & Ratings for EXACT Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EXACT Sciences and related companies with MarketBeat.com's FREE daily email newsletter.