Exact Sciences (NASDAQ:EXAS) Releases Earnings Results, Beats Expectations By $0.14 EPS

Exact Sciences (NASDAQ:EXAS) released its quarterly earnings data on Monday. The medical research company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.14, Zacks reports. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. Exact Sciences updated its FY 2025 guidance to EPS.

Exact Sciences Price Performance

Shares of EXAS traded up $2.29 during mid-day trading on Monday, hitting $66.98. The company’s stock had a trading volume of 6,306,430 shares, compared to its average volume of 2,716,071. The firm has a 50-day moving average price of $55.95 and a 200 day moving average price of $52.65. The stock has a market capitalization of $12.68 billion, a price-to-earnings ratio of -12.34, a PEG ratio of 5.56 and a beta of 1.24. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.89 and a quick ratio of 2.56. Exact Sciences has a fifty-two week low of $38.81 and a fifty-two week high of $72.83.

Insider Transactions at Exact Sciences

In other Exact Sciences news, Director James Edward Doyle sold 2,000 shares of Exact Sciences stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $60.00, for a total value of $120,000.00. Following the transaction, the director owned 57,962 shares in the company, valued at approximately $3,477,720. The trade was a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Exact Sciences

A number of hedge funds have recently modified their holdings of EXAS. Geneos Wealth Management Inc. increased its stake in Exact Sciences by 68.6% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,915 shares of the medical research company’s stock worth $102,000 after purchasing an additional 779 shares in the last quarter. Federated Hermes Inc. purchased a new position in shares of Exact Sciences in the second quarter worth approximately $126,000. EverSource Wealth Advisors LLC increased its position in shares of Exact Sciences by 206.6% in the second quarter. EverSource Wealth Advisors LLC now owns 3,204 shares of the medical research company’s stock worth $170,000 after acquiring an additional 2,159 shares in the last quarter. Great Lakes Advisors LLC increased its position in shares of Exact Sciences by 3.7% in the first quarter. Great Lakes Advisors LLC now owns 4,971 shares of the medical research company’s stock worth $215,000 after acquiring an additional 178 shares in the last quarter. Finally, IHT Wealth Management LLC purchased a new position in shares of Exact Sciences in the second quarter worth approximately $228,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Piper Sandler raised their price target on shares of Exact Sciences from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Evercore ISI raised their target price on Exact Sciences from $64.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, October 7th. Royal Bank Of Canada lowered their price target on Exact Sciences from $54.00 to $46.00 and set a “sector perform” rating on the stock in a report on Thursday, August 7th. Zacks Research raised Exact Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Finally, Cowen reissued a “buy” rating on shares of Exact Sciences in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $68.90.

Exact Sciences Company Profile

Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX Breast Recurrence Score Test; Oncotype DX Breast DCIS Score Test; Oncotype DX Colon Recurrence Score Test; OncoExTra Test for tumor profiling for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer; and Covid-19 testing services.