EXACT Sciences (NASDAQ:EXAS) Trading Up 9.1%

EXACT Sciences Co. (NASDAQ:EXAS) was up 9.1% during mid-day trading on Wednesday . The company traded as high as $55.00 and last traded at $59.79, approximately 85,056 shares traded hands during trading. A decline of 98% from the average daily volume of 4,065,880 shares. The stock had previously closed at $54.79.

A number of analysts recently issued reports on EXAS shares. Zacks Investment Research lowered shares of EXACT Sciences from a “buy” rating to a “hold” rating and set a $92.00 target price on the stock. in a research report on Tuesday, January 21st. ValuEngine upgraded shares of EXACT Sciences from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. BTIG Research assumed coverage on shares of EXACT Sciences in a report on Friday, January 10th. They issued a “buy” rating and a $127.00 price target on the stock. Citigroup assumed coverage on shares of EXACT Sciences in a report on Monday, January 6th. They issued a “buy” rating and a $120.00 price target on the stock. Finally, Robert W. Baird reiterated a “buy” rating on shares of EXACT Sciences in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. EXACT Sciences presently has an average rating of “Buy” and an average price target of $122.43.

The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.09 and a current ratio of 2.36. The company has a market cap of $9.06 billion, a price-to-earnings ratio of -83.41 and a beta of 1.60. The stock’s fifty day simple moving average is $75.87 and its two-hundred day simple moving average is $87.97.

EXACT Sciences (NASDAQ:EXAS) last posted its earnings results on Tuesday, February 11th. The medical research company reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.91. The business had revenue of $295.58 million for the quarter, compared to analyst estimates of $294.39 million. EXACT Sciences had a negative net margin of 9.59% and a negative return on equity of 18.78%. Analysts predict that EXACT Sciences Co. will post -1.89 EPS for the current fiscal year.

In related news, insider Mark Stenhouse sold 1,051 shares of EXACT Sciences stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $80.27, for a total transaction of $84,363.77. Following the transaction, the insider now owns 17,570 shares in the company, valued at approximately $1,410,343.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacob A. Orville sold 1,153 shares of EXACT Sciences stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $100.68, for a total transaction of $116,084.04. Following the transaction, the insider now owns 3,648 shares in the company, valued at approximately $367,280.64. The disclosure for this sale can be found here. Insiders have sold a total of 52,731 shares of company stock worth $4,462,531 in the last 90 days. Company insiders own 2.20% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Macquarie Group Ltd. lifted its holdings in shares of EXACT Sciences by 100.9% during the 4th quarter. Macquarie Group Ltd. now owns 955,183 shares of the medical research company’s stock valued at $88,335,000 after acquiring an additional 479,812 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of EXACT Sciences by 5.3% during the 4th quarter. Nuveen Asset Management LLC now owns 1,042,801 shares of the medical research company’s stock valued at $96,438,000 after acquiring an additional 52,909 shares in the last quarter. Norges Bank acquired a new position in shares of EXACT Sciences during the 4th quarter valued at $127,617,000. Verus Capital Partners LLC acquired a new position in shares of EXACT Sciences during the 4th quarter valued at $45,000. Finally, Sunbelt Securities Inc. purchased a new stake in EXACT Sciences during the 4th quarter worth $8,670,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

EXACT Sciences Company Profile (NASDAQ:EXAS)

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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