Exact Sciences (NASDAQ:EXAS) Reaches New 1-Year High – Here’s Why

Exact Sciences Corporation (NASDAQ:EXAS) shares reached a new 52-week high during trading on Thursday . The company traded as high as $102.66 and last traded at $102.5750, with a volume of 438945 shares. The stock had previously closed at $102.48.

Analysts Set New Price Targets

Several research analysts have recently issued reports on EXAS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Exact Sciences in a research note on Thursday. Wall Street Zen cut shares of Exact Sciences from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Benchmark downgraded shares of Exact Sciences from a “buy” rating to a “hold” rating in a report on Monday, November 24th. Canaccord Genuity Group cut shares of Exact Sciences from a “buy” rating to a “hold” rating and raised their price objective for the stock from $85.00 to $105.00 in a research note on Tuesday, November 25th. Finally, Stifel Nicolaus restated a “hold” rating and set a $105.00 price objective (up from $80.00) on shares of Exact Sciences in a research report on Friday, November 28th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, twenty have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $89.56.

Exact Sciences Stock Down 0.1%

The firm’s 50 day moving average is $100.01 and its 200-day moving average is $70.20. The firm has a market cap of $19.51 billion, a PE ratio of -19.22, a P/E/G ratio of 2.42 and a beta of 1.40. 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 (NASDAQ:EXAS) last issued its quarterly earnings results on Monday, November 3rd. The medical research company reported $0.24 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $810.42 million. During the same period in the previous year, the firm posted ($0.21) EPS. Exact Sciences’s revenue was up 20.0% on a year-over-year basis. As a group, equities research analysts expect that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

Insider Transactions at Exact Sciences

In other news, EVP Jacob A. Orville sold 5,000 shares of the stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $75.00, for a total transaction of $375,000.00. Following the transaction, the executive vice president directly owned 23,237 shares in the company, valued at $1,742,775. This represents a 17.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Brian Baranick sold 2,858 shares of the business’s stock in a transaction that occurred 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 completion of the sale, 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. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC acquired a new stake in Exact Sciences during the first quarter worth about $604,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Exact Sciences by 11.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,186 shares of the medical research company’s stock worth $921,000 after purchasing an additional 2,231 shares in the last quarter. Great Lakes Advisors LLC raised its holdings in 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 valued at $215,000 after buying an additional 178 shares during the period. Focus Partners Wealth lifted its position in Exact Sciences by 12.6% during the first quarter. Focus Partners Wealth now owns 21,548 shares of the medical research company’s stock valued at $933,000 after buying an additional 2,413 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in Exact Sciences by 120.1% during the second quarter. Parallel Advisors LLC now owns 799 shares of the medical research company’s stock worth $42,000 after buying an additional 436 shares during the period. 88.82% of the stock is owned by hedge funds and other 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.