Today: The Exact Sciences Corp. (EXAS) Downgraded by Zacks Investment Research

The Exact Sciences Corp. (EXAS) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Exact Sciences Corp. (NASDAQ:EXAS) from a buy rating to a hold rating in a report issued on Monday morning.

According to Zacks, “EXACT Sciences Corporation uses applied genomics to develop effective, patient-friendly screening technologies for use in the detection of cancer. Certain of its technologies have been licensed to Laboratory Corporation of America Holdings for a stool-based DNA screening assay for colorectal cancer in the average-risk population. Colorectal cancer, which is the most deadly cancer among non-smokers, is generally curable if detected early. Despite the availability of colorectal cancer screening and diagnostic tests for more than twenty years, the rate of early detection of colorectal cancer remains low, and deaths from colorectal cancer remain high. EXACT Sciences believes its genomics-based technologies would help to enable detection of colorectal cancer so that more people can be effectively treated. “

A number of other analysts also recently issued reports on EXAS. BTIG Research reiterated a buy rating and issued a $9.00 price objective on shares of Exact Sciences Corp. in a report on Wednesday, June 15th. Mizuho reiterated a hold rating and issued a $6.50 price objective on shares of Exact Sciences Corp. in a report on Wednesday, June 15th. Canaccord Genuity reiterated a buy rating and issued a $12.00 price objective (up from $9.00) on shares of Exact Sciences Corp. in a report on Wednesday, June 15th. Jefferies Group reiterated a buy rating and issued a $13.00 price objective on shares of Exact Sciences Corp. in a report on Wednesday, June 15th. Finally, Roth Capital reiterated a hold rating and issued a $7.00 price objective on shares of Exact Sciences Corp. in a report on Wednesday, June 15th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $16.73.

Shares of Exact Sciences Corp. (NASDAQ:EXAS) opened at 18.48 on Monday. The firm has a 50-day moving average of $19.26 and a 200-day moving average of $12.77. Exact Sciences Corp. has a one year low of $4.67 and a one year high of $22.80. The company’s market capitalization is $1.82 billion.

Exact Sciences Corp. (NASDAQ:EXAS) last posted its quarterly earnings data on Tuesday, July 26th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.55) by $0.09. Exact Sciences Corp. had a negative net margin of 277.74% and a negative return on equity of 57.16%. The company had revenue of $21.20 million for the quarter, compared to the consensus estimate of $18.54 million. During the same period last year, the company earned ($0.44) earnings per share. The firm’s revenue was up 161.7% compared to the same quarter last year. Equities research analysts expect that Exact Sciences Corp. will post ($1.78) EPS for the current fiscal year.

In other news, COO Maneesh Arora sold 7,359 shares of the business’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $14.82, for a total value of $109,060.38. Following the completion of the sale, the chief operating officer now owns 538,736 shares of the company’s stock, valued at $7,984,067.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Graham Peter Lidgard sold 7,383 shares of the business’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $14.82, for a total transaction of $109,416.06. Following the completion of the sale, the insider now directly owns 227,592 shares of the company’s stock, valued at approximately $3,372,913.44. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in the stock. Gofen & Glossberg LLC IL boosted its stake in shares of Exact Sciences Corp. by 0.9% in the third quarter. Gofen & Glossberg LLC IL now owns 10,700 shares of the company’s stock worth $199,000 after buying an additional 100 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Exact Sciences Corp. by 0.9% in the second quarter. ProShare Advisors LLC now owns 11,843 shares of the company’s stock worth $145,000 after buying an additional 103 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Exact Sciences Corp. by 1.5% in the second quarter. Amalgamated Bank now owns 10,229 shares of the company’s stock worth $213,000 after buying an additional 148 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Exact Sciences Corp. by 0.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 77,280 shares of the company’s stock worth $947,000 after buying an additional 457 shares during the last quarter. Finally, BlackRock Japan Co. Ltd boosted its stake in shares of Exact Sciences Corp. by 1.2% in the first quarter. BlackRock Japan Co. Ltd now owns 101,740 shares of the company’s stock worth $686,000 after buying an additional 1,216 shares during the last quarter. 86.91% of the stock is owned by institutional investors.

Exact Sciences Corp. Company Profile

Exact Sciences Corporation is a molecular diagnostics company focused on the early detection and prevention of some forms of cancer. The Company’s product pipeline includes Lung Cancer Nodules, Pancreatic Cancer Screening, Esophageal Cancer Screening, Lung Cancer Pipeline, Pancreatic Cancer Pipeline and Esophageal Cancer Pipeline.

Related posts

Leave a Comment