Exact Sciences (NASDAQ:EXAS) Issues Quarterly Earnings Results

Exact Sciences (NASDAQ:EXAS) issued its quarterly earnings data on Friday. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $878.38 million during the quarter. Exact Sciences had a positive return on equity of 1.67% and a negative net margin of 32.01%.

Exact Sciences Stock Performance

Shares of EXAS traded up $0.01 during trading hours on Friday, hitting $103.24. The company’s stock had a trading volume of 2,119,655 shares, compared to its average volume of 2,389,503. The business has a 50 day simple moving average of $102.06 and a two-hundred day simple moving average of $75.18. Exact Sciences has a 52-week low of $38.81 and a 52-week high of $103.54. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.72 and a quick ratio of 2.44. The company has a market cap of $19.70 billion, a price-to-earnings ratio of -19.41, a PEG ratio of 2.44 and a beta of 1.42.

Insider Activity at Exact Sciences

In related news, EVP Jacob A. Orville sold 5,000 shares of Exact Sciences stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $75.00, for a total value of $375,000.00. Following the completion of the transaction, the executive vice president directly owned 23,237 shares in the company, valued at approximately $1,742,775. The trade was a 17.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in Exact Sciences during the fourth quarter valued at $26,000. Torren Management LLC purchased a new stake in shares of Exact Sciences in the 4th quarter valued at about $27,000. True Wealth Design LLC raised its holdings in shares of Exact Sciences by 951.8% in the 2nd quarter. True Wealth Design LLC now owns 589 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 533 shares in the last quarter. Westside Investment Management Inc. boosted its position in shares of Exact Sciences by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 542 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 271 shares during the last quarter. Finally, Country Trust Bank bought a new stake in shares of Exact Sciences during the 2nd quarter valued at about $32,000. Institutional investors own 88.82% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on EXAS shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Exact Sciences in a research report on Thursday, January 22nd. Wolfe Research cut Exact Sciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 20th. TD Cowen downgraded shares of Exact Sciences from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Piper Sandler downgraded shares of Exact Sciences from an “overweight” rating to a “hold” rating and set a $105.00 price objective for the company. in a report on Monday, November 24th. Finally, Zacks Research lowered shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Two analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $89.56.

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.