EXACT Sciences (NASDAQ:EXAS) Rating Reiterated by Canaccord Genuity

Canaccord Genuity reiterated their buy rating on shares of EXACT Sciences (NASDAQ:EXAS) in a research note published on Wednesday, The Fly reports. They currently have a $125.00 price objective on the medical research company’s stock, up from their prior price objective of $118.00.

“We reiterate EXAS as a top pick for 2019 and we raise our PT to $125. Is EXAS still a start-up? We don’t often ascribe $15B companies as “start-ups,” but given its sub-5% penetration rate on just one product, management, vision, and momentum building in Madison (energized with the new opening of lab which expands its capacity by 133% to 7M tests/year), we believe EXAS is just getting started. Pfizer has been a “home run” so far – we expect momentum to accelerate. Management indicated that its three-year partnership with Pfizer has been a “home run” so far. Pfizer reps (particularly the OBGYN reps who were just trained in Jan ’19) aren’t fully ramped yet. Add to this that Pfizer’s Lyrica went off patent two weeks ago, there is good reason to think that the best days working with PFE have not been realized yet.”,” Canaccord Genuity’s analyst commented.

EXAS has been the topic of several other reports. Jefferies Financial Group boosted their price objective on shares of EXACT Sciences from $100.00 to $115.00 and gave the company a buy rating in a research report on Wednesday, May 1st. Craig Hallum boosted their price objective on shares of 1-800-Flowers.Com from $26.00 to $20.00 and gave the company a buy rating in a research report on Wednesday, May 1st. BTIG Research boosted their price objective on shares of Apple to $234.00 and gave the company a buy rating in a research report on Wednesday, May 1st. UBS Group cut shares of Advanced Disposal Services from a buy rating to a neutral rating and set a $33.00 price objective on the stock. in a research report on Wednesday, May 1st. They noted that the move was a valuation call. Finally, BidaskClub cut shares of Ames National from a hold rating to a sell rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $109.82.



EXAS opened at $114.88 on Wednesday. EXACT Sciences has a 12 month low of $47.78 and a 12 month high of $121.98. The company has a fifty day moving average of $113.12. The company has a current ratio of 8.39, a quick ratio of 8.13 and a debt-to-equity ratio of 1.02.

EXACT Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Tuesday, April 30th. The medical research company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.01). The company had revenue of $162.00 million during the quarter, compared to the consensus estimate of $153.07 million. EXACT Sciences had a negative net margin of 41.58% and a negative return on equity of 28.83%. The company’s revenue was up 79.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.33) earnings per share. As a group, equities analysts forecast that EXACT Sciences will post -2.2 EPS for the current year.

A number of large investors have recently modified their holdings of the business. Allstate Corp lifted its position in EXACT Sciences by 1.4% during the 1st quarter. Allstate Corp now owns 7,080 shares of the medical research company’s stock worth $613,000 after buying an additional 97 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in EXACT Sciences by 2.4% during the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 4,250 shares of the medical research company’s stock worth $368,000 after buying an additional 100 shares in the last quarter. Gofen & Glossberg LLC IL lifted its position in EXACT Sciences by 1.8% during the 1st quarter. Gofen & Glossberg LLC IL now owns 8,375 shares of the medical research company’s stock worth $725,000 after buying an additional 150 shares in the last quarter. First Hawaiian Bank raised its holdings in shares of EXACT Sciences by 160.0% in the 1st quarter. First Hawaiian Bank now owns 325 shares of the medical research company’s stock valued at $28,000 after purchasing an additional 200 shares during the period. Finally, YorkBridge Wealth Partners LLC raised its holdings in shares of EXACT Sciences by 40.0% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 700 shares of the medical research company’s stock valued at $83,000 after purchasing an additional 200 shares during the period. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

About EXACT Sciences

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.

Further Reading: Terms to Better Understand Call Options

The Fly

Analyst Recommendations for EXACT Sciences (NASDAQ:EXAS)

Receive News & Ratings for EXACT Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EXACT Sciences and related companies with MarketBeat.com's FREE daily email newsletter.