EXACT Sciences Co. (NASDAQ:EXAS) Expected to Post Quarterly Sales of $216.40 Million

Brokerages predict that EXACT Sciences Co. (NASDAQ:EXAS) will announce $216.40 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for EXACT Sciences’ earnings, with the highest sales estimate coming in at $221.20 million and the lowest estimate coming in at $213.50 million. EXACT Sciences posted sales of $118.29 million in the same quarter last year, which would suggest a positive year over year growth rate of 82.9%. The company is expected to announce its next earnings results after the market closes on Tuesday, October 29th.

According to Zacks, analysts expect that EXACT Sciences will report full-year sales of $810.11 million for the current financial year, with estimates ranging from $803.65 million to $825.00 million. For the next financial year, analysts expect that the business will post sales of $1.17 billion, with estimates ranging from $1.14 billion to $1.24 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for EXACT Sciences.

EXACT Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Monday, July 29th. The medical research company reported ($0.30) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.56) by $0.26. The company had revenue of $199.87 million during the quarter, compared to the consensus estimate of $182.18 million. EXACT Sciences had a negative net margin of 35.43% and a negative return on equity of 28.90%. EXACT Sciences’s quarterly revenue was up 94.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.30) EPS.

A number of brokerages have commented on EXAS. Cowen upped their price objective on shares of EXACT Sciences from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. They noted that the move was a valuation call. Oppenheimer assumed coverage on shares of EXACT Sciences in a report on Thursday, September 26th. They issued an “outperform” rating and a $130.00 price target for the company. Craig Hallum increased their price target on shares of EXACT Sciences from $115.00 to $127.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. BidaskClub downgraded shares of EXACT Sciences from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Finally, ValuEngine downgraded shares of EXACT Sciences from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. EXACT Sciences has a consensus rating of “Buy” and an average target price of $126.91.

In other EXACT Sciences news, SVP Scott C. Johnson sold 3,527 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $108.63, for a total transaction of $383,138.01. Following the completion of the transaction, the senior vice president now directly owns 7,934 shares in the company, valued at approximately $861,870.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeffrey Thomas Elliott sold 9,845 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $105.60, for a total transaction of $1,039,632.00. Following the transaction, the chief financial officer now owns 41,012 shares of the company’s stock, valued at $4,330,867.20. The disclosure for this sale can be found here. Insiders sold a total of 15,116 shares of company stock valued at $1,628,440 in the last quarter. Insiders own 2.20% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Patten & Patten Inc. TN purchased a new position in EXACT Sciences during the 3rd quarter valued at about $1,385,000. Gateway Investment Advisers LLC purchased a new position in EXACT Sciences during the 3rd quarter valued at about $2,834,000. Fox Run Management L.L.C. purchased a new position in EXACT Sciences during the 3rd quarter valued at about $290,000. Clarus Wealth Advisors purchased a new position in EXACT Sciences during the 3rd quarter valued at about $271,000. Finally, Grassi Investment Management increased its holdings in EXACT Sciences by 54.7% during the 3rd quarter. Grassi Investment Management now owns 6,575 shares of the medical research company’s stock valued at $594,000 after acquiring an additional 2,325 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

EXACT Sciences stock traded up $4.76 during trading hours on Friday, reaching $99.61. 124,061 shares of the stock were exchanged, compared to its average volume of 2,167,130. The stock has a market cap of $12.28 billion, a P/E ratio of -73.32 and a beta of 1.42. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.69 and a current ratio of 2.79. EXACT Sciences has a 52-week low of $53.06 and a 52-week high of $123.99. The firm’s 50 day moving average is $104.56 and its 200 day moving average is $105.80.

EXACT Sciences Company Profile

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.

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Earnings History and Estimates for EXACT Sciences (NASDAQ:EXAS)

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