Exact Sciences (NASDAQ:EXAS) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Exact Sciences (NASDAQ:EXAS) from a hold rating to a strong-buy rating in a report published on Thursday,Zacks.com reports.

A number of other analysts also recently issued reports on EXAS. Cowen downgraded shares of Exact Sciences from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Craig Hallum lowered Exact Sciences from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a research report on Friday, November 21st. Leerink Partnrs downgraded Exact Sciences from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 20th. Robert W. Baird set a $105.00 price target on Exact Sciences in a report on Thursday, November 20th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $105.00 price objective (up previously from $80.00) on shares of Exact Sciences in a research note on Friday, November 28th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, nineteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $85.00.

Exact Sciences Stock Performance

NASDAQ EXAS opened at $101.74 on Thursday. The company has a quick ratio of 2.44, a current ratio of 2.72 and a debt-to-equity ratio of 0.93. Exact Sciences has a twelve month low of $38.81 and a twelve month high of $102.66. The business has a 50-day moving average price of $89.25 and a 200-day moving average price of $65.05. The firm has a market cap of $19.28 billion, a price-to-earnings ratio of -19.12, a price-to-earnings-growth ratio of 2.40 and a beta of 1.40.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Monday, November 3rd. The medical research company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.11. Exact Sciences had a positive return on equity of 1.67% and a negative net margin of 32.01%.The company had revenue of $850.74 million for the quarter, compared to analysts’ expectations of $810.42 million. During the same period in the previous year, the firm earned ($0.21) EPS. The firm’s revenue was up 20.0% compared to the same quarter last year. As a group, equities research analysts predict that Exact Sciences will post -0.58 EPS for the current fiscal year.

Insider Activity

In other Exact Sciences news, EVP Brian Baranick sold 2,858 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $70.08, for a total transaction of $200,288.64. Following the transaction, the executive vice president owned 22,368 shares in the company, valued at $1,567,549.44. The trade was a 11.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James Edward Doyle sold 2,000 shares of the stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $60.00, for a total value of $120,000.00. Following the completion of the sale, the director owned 57,962 shares in the company, valued at approximately $3,477,720. The trade was a 3.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 9,858 shares of company stock valued at $695,289. 1.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Exact Sciences

Hedge funds have recently modified their holdings of the business. Allworth Financial LP increased its holdings in Exact Sciences by 6.6% during the third quarter. Allworth Financial LP now owns 7,323 shares of the medical research company’s stock valued at $401,000 after buying an additional 452 shares during the period. Swiss Life Asset Management Ltd boosted its position in Exact Sciences by 5.8% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 8,521 shares of the medical research company’s stock valued at $466,000 after acquiring an additional 469 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Exact Sciences by 47.7% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,333 shares of the medical research company’s stock valued at $237,000 after acquiring an additional 1,399 shares during the period. CIBC Bancorp USA Inc. purchased a new stake in shares of Exact Sciences during the 3rd quarter worth $507,000. Finally, Centaurus Financial Inc. lifted its stake in shares of Exact Sciences by 5.0% during the 3rd quarter. Centaurus Financial Inc. now owns 2,517 shares of the medical research company’s stock worth $138,000 after purchasing an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Company Profile

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.