EXACT Sciences (NASDAQ:EXAS) had its price target raised by stock analysts at Citigroup from $110.00 to $120.00 in a research note issued to investors on Friday, The Fly reports. The firm currently has a “buy” rating on the medical research company’s stock. Citigroup‘s target price indicates a potential upside of 26.65% from the company’s current price.
Several other research firms have also weighed in on EXAS. Craig Hallum dropped their price target on EXACT Sciences from $99.00 to $92.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. SVB Leerink dropped their price target on EXACT Sciences from $100.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Robert W. Baird lifted their price target on EXACT Sciences from $90.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Stifel Nicolaus dropped their price target on EXACT Sciences from $110.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, April 2nd. Finally, BidaskClub upgraded EXACT Sciences from a “hold” rating to a “buy” rating in a research report on Friday, July 17th. Eighteen investment analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus price target of $105.80.
Shares of EXAS traded down $3.15 during mid-day trading on Friday, hitting $94.75. 2,653,309 shares of the company’s stock traded hands, compared to its average volume of 1,106,099. The company has a quick ratio of 5.81, a current ratio of 6.09 and a debt-to-equity ratio of 0.64. EXACT Sciences has a 1 year low of $35.25 and a 1 year high of $123.31. The firm has a market capitalization of $14.21 billion, a P/E ratio of -89.39 and a beta of 1.89. The business’s 50-day moving average price is $90.52 and its 200-day moving average price is $81.95.
EXACT Sciences (NASDAQ:EXAS) last posted its earnings results on Thursday, July 30th. The medical research company reported ($0.58) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.62) by $0.04. EXACT Sciences had a negative return on equity of 14.49% and a negative net margin of 13.65%. The firm had revenue of $268.87 million for the quarter, compared to analysts’ expectations of $229.62 million. Sell-side analysts anticipate that EXACT Sciences will post -1.63 earnings per share for the current fiscal year.
In related news, Director Katherine S. Zanotti sold 1,164 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 41,907 shares of the company’s stock, valued at $4,028,519.91. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jeffrey Thomas Elliott sold 8,746 shares of the stock in a transaction that occurred 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 transaction, 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. Company insiders own 1.80% of the company’s stock.
Several large investors have recently bought and sold shares of EXAS. Toth Financial Advisory Corp purchased a new stake in shares of EXACT Sciences in the second quarter worth approximately $26,000. Benjamin F. Edwards & Company Inc. purchased a new position in EXACT Sciences during the 1st quarter worth $27,000. Focused Wealth Management Inc increased its holdings in EXACT Sciences by 100.0% during the 1st quarter. Focused Wealth Management Inc now owns 516 shares of the medical research company’s stock worth $30,000 after purchasing an additional 258 shares during the period. First Horizon Advisors Inc. increased its holdings in EXACT Sciences by 138.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 400 shares of the medical research company’s stock worth $34,000 after purchasing an additional 232 shares during the period. Finally, Verus Capital Partners LLC increased its holdings in EXACT Sciences by 40.7% during the 1st quarter. Verus Capital Partners LLC now owns 691 shares of the medical research company’s stock worth $40,000 after purchasing an additional 200 shares during the period. 86.66% of the stock is owned by institutional investors and hedge funds.
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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