EXACT Sciences (NASDAQ:EXAS) Stock Price Up 9.1%

EXACT Sciences Co. (NASDAQ:EXAS)’s share price rose 9.1% on Wednesday . The company traded as high as $55.00 and last traded at $59.79, approximately 85,056 shares changed hands during trading. A decline of 98% from the average daily volume of 4,065,880 shares. The stock had previously closed at $54.79.

EXAS has been the topic of a number of recent research reports. ValuEngine raised EXACT Sciences from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 3rd. Zacks Investment Research lowered EXACT Sciences from a “buy” rating to a “hold” rating and set a $92.00 price objective on the stock. in a research report on Tuesday, January 21st. Dougherty & Co initiated coverage on EXACT Sciences in a research report on Friday, December 13th. They set a “buy” rating and a $120.00 price objective on the stock. TheStreet lowered EXACT Sciences from a “c-” rating to a “d+” rating in a research report on Tuesday. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $110.00 price objective on shares of EXACT Sciences in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $122.43.

The stock has a market cap of $9.06 billion, a PE ratio of -83.41 and a beta of 1.60. The firm has a fifty day moving average of $75.87 and a 200 day moving average of $87.97. The company has a quick ratio of 2.09, a current ratio of 2.36 and a debt-to-equity ratio of 0.41.

EXACT Sciences (NASDAQ:EXAS) last posted its earnings results on Tuesday, February 11th. The medical research company reported $0.54 EPS for the quarter, beating the consensus estimate of ($0.37) by $0.91. The firm had revenue of $295.58 million for the quarter, compared to analyst estimates of $294.39 million. EXACT Sciences had a negative return on equity of 18.78% and a negative net margin of 9.59%. On average, equities research analysts forecast that EXACT Sciences Co. will post -1.89 EPS for the current fiscal year.

In related news, insider Jacob A. Orville sold 1,153 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $100.68, for a total value of $116,084.04. Following the transaction, the insider now owns 3,648 shares of the company’s stock, valued at $367,280.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Edward Doyle sold 2,000 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $77.54, for a total value of $155,080.00. Following the completion of the transaction, the director now directly owns 32,440 shares in the company, valued at approximately $2,515,397.60. The disclosure for this sale can be found here. Insiders sold 52,731 shares of company stock worth $4,462,531 in the last three months. 2.20% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American International Group Inc. lifted its position in EXACT Sciences by 5.0% in the fourth quarter. American International Group Inc. now owns 3,281 shares of the medical research company’s stock valued at $303,000 after purchasing an additional 156 shares during the period. Polianta Ltd purchased a new position in EXACT Sciences in the fourth quarter valued at about $1,183,000. Advisory Alpha LLC purchased a new position in EXACT Sciences in the fourth quarter valued at about $117,000. Eaton Vance Management increased its holdings in EXACT Sciences by 66.6% in the fourth quarter. Eaton Vance Management now owns 402,971 shares of the medical research company’s stock valued at $37,267,000 after buying an additional 161,090 shares in the last quarter. Finally, DNB Asset Management AS increased its holdings in EXACT Sciences by 22.6% in the fourth quarter. DNB Asset Management AS now owns 16,433 shares of the medical research company’s stock valued at $1,520,000 after buying an additional 3,025 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

About EXACT Sciences (NASDAQ:EXAS)

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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