Exact Sciences (NASDAQ:EXAS) Shares Gap Up to $70.41

Shares of Exact Sciences Co. (NASDAQ:EXASGet Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $70.41, but opened at $79.59. Exact Sciences shares last traded at $76.02, with a volume of 2,122,520 shares trading hands.

Analyst Ratings Changes

Several research firms recently issued reports on EXAS. TheStreet cut Exact Sciences from a “c-” rating to a “d+” rating in a research report on Monday, February 26th. Canaccord Genuity Group lowered their price objective on Exact Sciences from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Citigroup reissued a “buy” rating and set a $100.00 price target on shares of Exact Sciences in a report on Wednesday. William Blair reissued an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 22nd. Finally, Wolfe Research initiated coverage on Exact Sciences in a report on Wednesday, December 13th. They set an “outperform” rating and a $95.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $97.44.

View Our Latest Stock Report on Exact Sciences

Exact Sciences Price Performance

The company has a current ratio of 2.32, a quick ratio of 2.07 and a debt-to-equity ratio of 0.74. The firm has a market cap of $13.22 billion, a PE ratio of -63.88 and a beta of 1.25. The stock has a 50 day simple moving average of $62.29 and a 200-day simple moving average of $65.12.

Exact Sciences (NASDAQ:EXASGet Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.26. Exact Sciences had a negative return on equity of 6.60% and a negative net margin of 8.17%. The business had revenue of $646.89 million during the quarter, compared to analyst estimates of $638.83 million. During the same quarter in the prior year, the business posted ($0.72) EPS. Exact Sciences’s revenue for the quarter was up 17.0% compared to the same quarter last year. Equities analysts anticipate that Exact Sciences Co. will post -0.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director D Scott Coward sold 1,376 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $61.43, for a total transaction of $84,527.68. Following the completion of the transaction, the director now owns 41,580 shares in the company, valued at $2,554,259.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Sarah Condella sold 2,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $70.00, for a total value of $140,000.00. Following the completion of the transaction, the executive vice president now owns 71,787 shares of the company’s stock, valued at approximately $5,025,090. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director D Scott Coward sold 1,376 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $61.43, for a total transaction of $84,527.68. Following the completion of the transaction, the director now directly owns 41,580 shares of the company’s stock, valued at approximately $2,554,259.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,113 shares of company stock worth $4,165,273. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in Exact Sciences in the fourth quarter worth about $120,308,000. Marshall Wace LLP bought a new stake in Exact Sciences in the second quarter worth about $91,558,000. Capital World Investors lifted its stake in Exact Sciences by 17.2% in the first quarter. Capital World Investors now owns 5,487,009 shares of the medical research company’s stock worth $383,652,000 after purchasing an additional 804,159 shares during the last quarter. Vanguard Group Inc. lifted its stake in Exact Sciences by 4.4% in the third quarter. Vanguard Group Inc. now owns 16,676,611 shares of the medical research company’s stock worth $541,823,000 after purchasing an additional 698,740 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in Exact Sciences by 94.0% in the fourth quarter. Jennison Associates LLC now owns 1,360,917 shares of the medical research company’s stock worth $100,681,000 after purchasing an additional 659,235 shares during the last quarter. Institutional investors own 88.82% of the company’s stock.

About Exact Sciences

(Get Free Report)

Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX Breast Recurrence Score Test; Oncotype DX Breast DCIS Score Test; Oncotype DX Colon Recurrence Score Test; OncoExTra Test for tumor profiling for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer; and Covid-19 testing services.

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