EXACT Sciences (EXAS) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of EXACT Sciences (NASDAQ:EXAS) from a sell rating to a hold rating in a report released on Friday, Zacks.com reports.

According to Zacks, “EXACT Sciences Corporation uses applied genomics to develop effective, patient-friendly screening technologies for use in the detection of cancer. Certain of its technologies have been licensed to Laboratory Corporation of America Holdings for a stool-based DNA screening assay for colorectal cancer in the average-risk population. Colorectal cancer, which is the most deadly cancer among non-smokers, is generally curable if detected early. Despite the availability of colorectal cancer screening and diagnostic tests for more than twenty years, the rate of early detection of colorectal cancer remains low, and deaths from colorectal cancer remain high. EXACT Sciences believes its genomics-based technologies would help to enable detection of colorectal cancer so that more people can be effectively treated. “

A number of other brokerages also recently weighed in on EXAS. UBS Group set a $109.00 price objective on EXACT Sciences and gave the company a buy rating in a research report on Friday, February 22nd. Canaccord Genuity raised their price objective on EXACT Sciences from $87.00 to $95.00 and gave the company a buy rating in a research report on Monday, January 14th. Craig Hallum set a $95.00 price objective on EXACT Sciences and gave the company a buy rating in a research report on Friday, February 22nd. BidaskClub raised EXACT Sciences from a hold rating to a buy rating in a research report on Thursday, January 10th. Finally, Robert W. Baird raised their price objective on EXACT Sciences from $90.00 to $102.00 and gave the company an outperform rating in a research report on Thursday, February 21st. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. EXACT Sciences presently has an average rating of Buy and a consensus price target of $99.64.

Shares of EXAS stock opened at $95.00 on Friday. EXACT Sciences has a 1-year low of $44.40 and a 1-year high of $97.27. The stock has a market cap of $11.93 billion, a P/E ratio of -69.85 and a beta of 1.83. The company has a debt-to-equity ratio of 1.02, a quick ratio of 8.70 and a current ratio of 8.99.

EXACT Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Thursday, February 21st. The medical research company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. EXACT Sciences had a negative return on equity of 23.58% and a negative net margin of 38.54%. The company had revenue of $142.98 million for the quarter, compared to the consensus estimate of $143.00 million. During the same quarter last year, the company earned ($0.18) earnings per share. The firm’s revenue for the quarter was up 63.6% compared to the same quarter last year. On average, equities analysts anticipate that EXACT Sciences will post -1.98 earnings per share for the current fiscal year.

In other EXACT Sciences news, insider Kevin T. Conroy sold 9,169 shares of the stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $95.07, for a total value of $871,696.83. Following the completion of the sale, the insider now directly owns 923,961 shares in the company, valued at $87,840,972.27. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Scott C. Johnson sold 1,166 shares of the stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $93.20, for a total value of $108,671.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 455,507 shares of company stock valued at $37,454,557. 3.20% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Gofen & Glossberg LLC IL raised its stake in EXACT Sciences by 1.8% in the first quarter. Gofen & Glossberg LLC IL now owns 8,375 shares of the medical research company’s stock valued at $725,000 after buying an additional 150 shares during the last quarter. First Hawaiian Bank raised its stake in EXACT Sciences by 160.0% in the first quarter. First Hawaiian Bank now owns 325 shares of the medical research company’s stock valued at $28,000 after buying an additional 200 shares during the last quarter. Gotham Asset Management LLC raised its stake in EXACT Sciences by 0.5% in the fourth quarter. Gotham Asset Management LLC now owns 44,047 shares of the medical research company’s stock valued at $2,779,000 after buying an additional 221 shares during the last quarter. First Allied Advisory Services Inc. raised its stake in shares of EXACT Sciences by 6.9% in the fourth quarter. First Allied Advisory Services Inc. now owns 3,928 shares of the medical research company’s stock worth $249,000 after purchasing an additional 253 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in shares of EXACT Sciences by 6.9% in the fourth quarter. IFP Advisors Inc now owns 6,621 shares of the medical research company’s stock worth $405,000 after purchasing an additional 429 shares during the last quarter. Institutional investors own 89.84% of the company’s stock.

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.

Further Reading: Differences Between Momentum Investing and Long Term Investing

Get a free copy of the Zacks research report on EXACT Sciences (EXAS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for EXACT Sciences (NASDAQ:EXAS)

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.