The Exact Sciences Corp. to Post Q3 2016 Earnings of ($0.40) Per Share, Jefferies Group Forecasts (EXAS)

The Exact Sciences Corp. to Post Q3 2016 Earnings of ($0.40) Per Share, Jefferies Group Forecasts (EXAS)

Exact Sciences Corp. (NASDAQ:EXAS) – Stock analysts at Jefferies Group upped their Q3 2016 EPS estimates for Exact Sciences Corp. in a research report issued to clients and investors on Tuesday. Jefferies Group analyst B. Couillard now anticipates that the firm will earn ($0.40) per share for the quarter, up from their previous forecast of ($0.45). Jefferies Group has a “Buy” rating and a $23.00 price target on the stock. Jefferies Group also issued estimates for Exact Sciences Corp.’s Q4 2016 earnings at ($0.40) EPS, FY2016 earnings at ($1.80) EPS, Q1 2017 earnings at ($0.40) EPS, Q2 2017 earnings at ($0.40) EPS, Q3 2017 earnings at ($0.40) EPS and FY2017 earnings at $1.40 EPS.

EXAS has been the topic of several other research reports. Robert W. Baird reaffirmed an “outperform” rating and issued a $18.00 price target on shares of Exact Sciences Corp. in a report on Sunday, July 31st. William Blair reaffirmed an “outperform” rating and issued a $29.00 price target on shares of Exact Sciences Corp. in a report on Friday, July 15th. BTIG Research reaffirmed a “buy” rating and issued a $20.00 price target on shares of Exact Sciences Corp. in a report on Sunday, July 31st. Benchmark Co. lowered their price target on Exact Sciences Corp. from $14.00 to $9.00 and set a “hold” rating on the stock in a report on Wednesday, July 27th. Finally, Goldman Sachs Group Inc. raised their price target on Exact Sciences Corp. from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, August 15th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Exact Sciences Corp. has a consensus rating of “Buy” and a consensus price target of $16.73.

Exact Sciences Corp. (NASDAQ:EXAS) opened at 19.28 on Thursday. Exact Sciences Corp. has a 1-year low of $4.67 and a 1-year high of $22.80. The firm’s market capitalization is $1.90 billion. The company has a 50 day moving average price of $19.38 and a 200-day moving average price of $12.49.

Exact Sciences Corp. (NASDAQ:EXAS) last posted its quarterly earnings data on Tuesday, July 26th. The company reported ($0.46) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.55) by $0.09. The company had revenue of $21.20 million for the quarter, compared to analyst estimates of $18.54 million. Exact Sciences Corp. had a negative return on equity of 57.16% and a negative net margin of 277.74%. The firm’s quarterly revenue was up 161.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.44) earnings per share.

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Exact Sciences Corp. by 6.4% in the second quarter. Vanguard Group Inc. now owns 7,105,011 shares of the company’s stock valued at $87,036,000 after buying an additional 428,035 shares during the last quarter. William Blair Investment Management LLC raised its position in Exact Sciences Corp. by 1,945.5% in the second quarter. William Blair Investment Management LLC now owns 5,050,263 shares of the company’s stock valued at $61,866,000 after buying an additional 4,803,363 shares during the last quarter. Primecap Management Co. CA raised its position in Exact Sciences Corp. by 45.9% in the first quarter. Primecap Management Co. CA now owns 4,516,300 shares of the company’s stock valued at $30,440,000 after buying an additional 1,420,000 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Exact Sciences Corp. by 3.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,426,087 shares of the company’s stock valued at $29,720,000 after buying an additional 88,293 shares during the last quarter. Finally, EverPoint Asset Management LLC raised its position in Exact Sciences Corp. by 19.1% in the second quarter. EverPoint Asset Management LLC now owns 2,381,666 shares of the company’s stock valued at $29,175,000 after buying an additional 381,666 shares during the last quarter. Institutional investors and hedge funds own 86.91% of the company’s stock.

In related news, Director Lionel Sterling purchased 5,000 shares of Exact Sciences Corp. stock in a transaction that occurred on Thursday, September 1st. The shares were acquired at an average cost of $18.10 per share, for a total transaction of $90,500.00. Following the transaction, the director now directly owns 121,247 shares in the company, valued at $2,194,570.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Maneesh Arora sold 7,359 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $14.82, for a total value of $109,060.38. Following the transaction, the chief operating officer now owns 538,736 shares in the company, valued at $7,984,067.52. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

Exact Sciences Corp. Company Profile

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