Granite Investment Partners LLC Makes New $1.20 Million Investment in Exact Sciences Corporation $EXAS

Granite Investment Partners LLC acquired a new stake in shares of Exact Sciences Corporation (NASDAQ:EXAS) during the third quarter, HoldingsChannel reports. The fund acquired 21,944 shares of the medical research company’s stock, valued at approximately $1,201,000.

A number of other hedge funds also recently made changes to their positions in EXAS. Integrated Wealth Concepts LLC purchased a new position in Exact Sciences during the first quarter valued at approximately $604,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Exact Sciences by 11.8% in the first 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 position in shares of Exact Sciences by 3.7% during the 1st quarter. Great Lakes Advisors LLC now owns 4,971 shares of the medical research company’s stock valued at $215,000 after purchasing an additional 178 shares during the period. Focus Partners Wealth lifted its stake in shares of Exact Sciences by 12.6% during the 1st 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, Focus Partners Advisor Solutions LLC purchased a new position in shares of Exact Sciences during the 2nd quarter valued at $442,000. 88.82% of the stock is currently owned by institutional investors.

Exact Sciences Price Performance

NASDAQ:EXAS opened at $103.39 on Tuesday. The business’s 50-day moving average is $102.34 and its 200 day moving average is $78.36. Exact Sciences Corporation has a 12 month low of $38.81 and a 12 month high of $103.65. The company has a market capitalization of $19.74 billion, a P/E ratio of -93.99, a P/E/G ratio of 2.35 and a beta of 1.42. The company has a current ratio of 2.43, a quick ratio of 2.17 and a debt-to-equity ratio of 0.97.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Friday, February 13th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.29). Exact Sciences had a positive return on equity of 0.53% and a negative net margin of 6.40%.The company’s revenue was up 23.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.06) earnings per share. On average, equities research analysts forecast that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

EXAS has been the subject of a number of analyst reports. William Blair lowered Exact Sciences from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 20th. Citigroup cut Exact Sciences from a “buy” rating to a “hold” rating in a research report on Thursday, November 20th. Jefferies Financial Group downgraded Exact Sciences from a “buy” rating to a “hold” rating and lifted their target price for the company from $90.00 to $105.00 in a research note on Monday, November 24th. Wells Fargo & Company restated an “equal weight” rating and issued a $105.00 price target (up from $85.00) on shares of Exact Sciences in a research note on Thursday, November 20th. Finally, Robert W. Baird set a $105.00 price objective on shares of Exact Sciences in a report on Thursday, November 20th. Twenty-one equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $92.13.

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.