Wall Street brokerages forecast that EXACT Sciences Co. (NASDAQ:EXAS) will report $103.93 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for EXACT Sciences’ earnings. The highest sales estimate is $105.51 million and the lowest is $101.66 million. EXACT Sciences reported sales of $57.65 million in the same quarter last year, which indicates a positive year over year growth rate of 80.3%. The business is scheduled to report its next quarterly earnings report on Tuesday, July 24th.
On average, analysts expect that EXACT Sciences will report full-year sales of $430.94 million for the current year, with estimates ranging from $429.20 million to $432.20 million. For the next financial year, analysts anticipate that the firm will report sales of $640.83 million per share, with estimates ranging from $624.15 million to $658.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover EXACT Sciences.
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EXACT Sciences (NASDAQ:EXAS) last issued its earnings results on Thursday, April 26th. The medical research company reported ($0.33) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.38) by $0.05. EXACT Sciences had a negative return on equity of 20.92% and a negative net margin of 38.61%. The business had revenue of $90.30 million during the quarter, compared to analyst estimates of $86.31 million. During the same quarter in the previous year, the firm earned ($0.32) EPS. EXACT Sciences’s revenue was up 86.7% on a year-over-year basis.
A number of brokerages have weighed in on EXAS. Canaccord Genuity boosted their target price on EXACT Sciences from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, April 27th. BTIG Research reissued a “buy” rating and issued a $60.00 target price on shares of EXACT Sciences in a research report on Sunday, April 29th. BidaskClub raised EXACT Sciences from a “hold” rating to a “buy” rating in a research report on Friday, April 20th. Zacks Investment Research lowered EXACT Sciences from a “hold” rating to a “sell” rating in a research report on Friday, April 27th. Finally, ValuEngine upgraded EXACT Sciences from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $53.84.
EXACT Sciences traded up $0.70, reaching $52.39, during mid-day trading on Monday, Marketbeat Ratings reports. The company’s stock had a trading volume of 1,205,700 shares, compared to its average volume of 2,828,373. EXACT Sciences has a 12-month low of $29.45 and a 12-month high of $63.60. The company has a debt-to-equity ratio of 0.71, a quick ratio of 14.86 and a current ratio of 15.30. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of -52.92 and a beta of 0.86.
In related news, Director Michael S. Wyzga sold 7,402 shares of the business’s stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $51.53, for a total transaction of $381,425.06. Following the completion of the transaction, the director now directly owns 10,974 shares in the company, valued at approximately $565,490.22. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Thomas D. Carey sold 8,448 shares of the business’s stock in a transaction that occurred on Tuesday, April 10th. The shares were sold at an average price of $39.73, for a total value of $335,639.04. Following the transaction, the director now owns 52,610 shares of the company’s stock, valued at $2,090,195.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 135,748 shares of company stock valued at $6,082,759. Corporate insiders own 4.00% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Elk Creek Partners LLC grew its stake in shares of EXACT Sciences by 66.5% during the 1st quarter. Elk Creek Partners LLC now owns 962,731 shares of the medical research company’s stock valued at $38,827,000 after acquiring an additional 384,481 shares during the period. OppenheimerFunds Inc. grew its stake in shares of EXACT Sciences by 99.6% during the 1st quarter. OppenheimerFunds Inc. now owns 5,831,347 shares of the medical research company’s stock valued at $235,179,000 after acquiring an additional 2,910,506 shares during the period. GSA Capital Partners LLP bought a new position in shares of EXACT Sciences during the 1st quarter valued at approximately $331,000. Sei Investments Co. grew its stake in shares of EXACT Sciences by 114.8% during the 1st quarter. Sei Investments Co. now owns 97,625 shares of the medical research company’s stock valued at $3,936,000 after acquiring an additional 52,180 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of EXACT Sciences during the 1st quarter valued at approximately $135,000. Institutional investors own 81.88% of the company’s stock.
EXACT Sciences Company Profile
Exact Sciences Corporation, a molecular diagnostics company, focuses on developing products for the early detection and prevention of various cancers in the United States. The company offers Cologuard, a non-invasive stool-based DNA screening test for the early detection of colorectal cancer and pre-cancer.
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