Zacks Research Upgrades Exact Sciences (NASDAQ:EXAS) to “Strong-Buy”

Exact Sciences (NASDAQ:EXAS) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

EXAS has been the topic of a number of other reports. Wells Fargo & Company reiterated an “equal weight” rating and set a $105.00 price objective (up from $85.00) on shares of Exact Sciences in a research note on Thursday, November 20th. Benchmark cut shares of Exact Sciences from a “buy” rating to a “hold” rating in a research report on Monday, November 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Exact Sciences in a research note on Wednesday, October 8th. Robert W. Baird set a $105.00 price objective on Exact Sciences in a research note on Thursday, November 20th. Finally, Evercore ISI increased their target price on Exact Sciences from $64.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. 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 issued a Sell rating to the company. According to MarketBeat, Exact Sciences presently has an average rating of “Hold” and an average target price of $85.00.

Exact Sciences Stock Up 0.2%

Shares of NASDAQ EXAS opened at $101.74 on Thursday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.44 and a current ratio of 2.72. Exact Sciences has a 1 year low of $38.81 and a 1 year high of $102.66. The stock’s 50-day simple moving average is $89.25 and its 200-day simple moving average is $65.05. The firm has a market cap of $19.28 billion, a price-to-earnings ratio of -19.12, a PEG ratio of 2.40 and a beta of 1.40.

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

Insider Buying and Selling at Exact Sciences

In related news, Director James Edward Doyle sold 2,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director owned 57,962 shares of the company’s stock, valued at approximately $3,477,720. This trade represents a 3.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Brian Baranick sold 2,858 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $70.08, for a total value of $200,288.64. Following the transaction, the executive vice president owned 22,368 shares of the company’s stock, valued at approximately $1,567,549.44. The trade was a 11.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,858 shares of company stock worth $695,289 over the last ninety days. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Exact Sciences

A number of hedge funds have recently added to or reduced their stakes in EXAS. Marshall Wace LLP raised its position in Exact Sciences by 1,553.1% in the second quarter. Marshall Wace LLP now owns 429,719 shares of the medical research company’s stock worth $22,835,000 after acquiring an additional 403,724 shares in the last quarter. Holocene Advisors LP boosted its position in shares of Exact Sciences by 189.5% during the 2nd quarter. Holocene Advisors LP now owns 2,145,181 shares of the medical research company’s stock valued at $113,995,000 after purchasing an additional 1,404,086 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Exact Sciences in the 2nd quarter worth approximately $3,716,000. Prudential Financial Inc. raised its holdings in shares of Exact Sciences by 255.4% in the 2nd quarter. Prudential Financial Inc. now owns 34,720 shares of the medical research company’s stock worth $1,845,000 after purchasing an additional 24,951 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in Exact Sciences by 640.7% during the second quarter. Teacher Retirement System of Texas now owns 200,397 shares of the medical research company’s stock valued at $10,649,000 after purchasing an additional 173,343 shares during the last quarter. 88.82% of the stock is currently owned by institutional investors.

About Exact Sciences

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.