Published On: Sun, Sep 11th, 2016

Exact Sciences Corp.’s (EXAS) Hold Rating Reaffirmed at Roth Capital

Exact Sciences Corp. (NASDAQ:EXAS)‘s stock had its “hold” rating reiterated by research analysts at Roth Capital in a research note issued on Monday. They presently have a $15.00 target price on the stock, up from their prior target price of $11.00. Roth Capital’s price objective would indicate a potential downside of 20.34% from the company’s previous close.
Several other equities analysts have also recently issued reports on EXAS. Jefferies Group reissued a “buy” rating on shares of Exact Sciences Corp. in a research note on Wednesday, May 4th. Craig Hallum upped their price target on Exact Sciences Corp. from $18.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, July 27th. Canaccord Genuity reissued a “buy” rating and issued a $9.00 target price on shares of Exact Sciences Corp. in a research note on Monday, May 2nd. Mizuho downgraded Exact Sciences Corp. from a “buy” rating to a “neutral” rating and cut their price target for the company from $12.00 to $6.50 in a report on Wednesday, May 4th. Finally, BTIG Research reissued a “buy” rating and issued a $20.00 price objective on shares of Exact Sciences Corp. in a report on Sunday, July 31st. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $16.32.
Shares of Exact Sciences Corp. (NASDAQ:EXAS) traded down 4.61% during trading on Monday, hitting $18.83. The company had a trading volume of 2,077,323 shares. The firm’s market capitalization is $1.85 billion. The company’s 50 day moving average is $18.80 and its 200 day moving average is $10.51. Exact Sciences Corp. has a 1-year low of $4.67 and a 1-year high of $22.80.

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Exact Sciences Corp. (NASDAQ:EXAS) last released its earnings results on Tuesday, July 26th. The company reported ($0.46) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.55) by $0.09. The company earned $21.20 million during the quarter, compared to the consensus estimate of $18.54 million. Exact Sciences Corp. had a negative return on equity of 57.16% and a negative net margin of 277.74%. Exact Sciences Corp.’s quarterly revenue was up 161.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.44) EPS. Analysts anticipate that Exact Sciences Corp. will post ($1.79) earnings per share for the current fiscal year.
In other news, Director Katherine S. Zanotti purchased 3,380 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were bought at an average cost of $17.93 per share, for a total transaction of $60,603.40. Following the completion of the purchase, the director now directly owns 105,927 shares of the company’s stock, valued at $1,899,271.11. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lionel Sterling purchased 5,000 shares of the firm’s stock in a transaction on Thursday, September 1st. The shares were purchased at an average price of $18.10 per share, for a total transaction of $90,500.00. Following the completion of the purchase, the director now directly owns 121,247 shares of the company’s stock, valued at $2,194,570.70. The disclosure for this purchase can be found here. Company insiders own 5.60% of the company’s stock.
A number of hedge funds and institutional investors have recently added to or reduced their stakes in the company. BlackRock Group LTD boosted its position in Exact Sciences Corp. by 26.7% in the first quarter. BlackRock Group LTD now owns 58,056 shares of the company’s stock worth $391,000 after buying an additional 12,217 shares during the period. Skylands Capital LLC boosted its position in Exact Sciences Corp. by 20.8% in the first quarter. Skylands Capital LLC now owns 512,150 shares of the company’s stock worth $3,452,000 after buying an additional 88,350 shares during the period. Norges Bank purchased a new position in Exact Sciences Corp. during the fourth quarter worth approximately $8,905,000. Balyasny Asset Management LLC bought a new stake in shares of Exact Sciences Corp. during the fourth quarter valued at about $2,452,000. Finally, William Blair Investment Management LLC boosted its stake in shares of Exact Sciences Corp. by 22.1% in the fourth quarter. William Blair Investment Management LLC now owns 5,766,280 shares of the company’s stock valued at $53,223,000 after buying an additional 1,043,546 shares in the last quarter. Institutional investors own 86.91% of the company’s stock.
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.

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