Zacks Investment Research Lowers EXACT Sciences (NASDAQ:EXAS) to Hold

Zacks Investment Research cut shares of EXACT Sciences (NASDAQ:EXAS) from a buy rating to a hold rating in a report released on Tuesday, Zacks.com reports. The firm currently has $92.00 price target on the medical research company’s stock.

According to Zacks, “Over the past year, Exact Science has been outperforming its industry. The company has demonstrated strength across its entire business, driven by impressive performances with its Cologuard business. It is also progressing well in terms of its three priorities in 2019. We are currently looking forward to Exact Science’s recently-closed merger with advanced molecular diagnostics company Genomic Health. The company exhibited an impressive performance with better-than-expected earnings results in the third quarter of 2019. On the flip side, escalating expenses are putting pressure on operating margin. Sole reliance on Cologuard and competitive headwinds persist as major downsides.”

A number of other analysts also recently issued reports on EXAS. BidaskClub upgraded shares of EXACT Sciences from a hold rating to a buy rating in a report on Friday, January 10th. ValuEngine downgraded shares of EXACT Sciences from a buy rating to a hold rating in a report on Tuesday, December 3rd. Dougherty & Co initiated coverage on shares of EXACT Sciences in a report on Friday, December 13th. They set a buy rating and a $120.00 price target for the company. Jefferies Financial Group cut their price target on shares of EXACT Sciences from $138.00 to $120.00 and set a buy rating for the company in a report on Wednesday, October 30th. Finally, Leerink Swann cut their price target on shares of EXACT Sciences from $133.00 to $105.00 and set an outperform rating for the company in a report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. EXACT Sciences has an average rating of Buy and an average target price of $121.00.

EXAS stock traded down $4.22 during mid-day trading on Tuesday, reaching $88.26. The company’s stock had a trading volume of 75,760 shares, compared to its average volume of 2,303,825. The stock has a market cap of $12.33 billion, a PE ratio of -51.71 and a beta of 1.35. The company has a current ratio of 2.75, a quick ratio of 2.63 and a debt-to-equity ratio of 0.67. EXACT Sciences has a fifty-two week low of $75.35 and a fifty-two week high of $123.99. The company’s 50 day moving average is $92.77 and its two-hundred day moving average is $99.97.

EXACT Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Tuesday, October 29th. The medical research company reported ($0.31) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.10. The company had revenue of $218.81 million during the quarter, compared to the consensus estimate of $216.14 million. EXACT Sciences had a negative net margin of 29.83% and a negative return on equity of 29.06%. EXACT Sciences’s quarterly revenue was up 85.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.37) EPS. On average, analysts forecast that EXACT Sciences will post -1.62 earnings per share for the current fiscal year.

In related news, insider G Bradley Cole sold 10,000 shares of EXACT Sciences stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $90.30, for a total value of $903,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.20% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. NumerixS Investment Technologies Inc acquired a new stake in EXACT Sciences in the 2nd quarter valued at approximately $35,000. Valeo Financial Advisors LLC increased its holdings in EXACT Sciences by 154.6% in the 4th quarter. Valeo Financial Advisors LLC now owns 443 shares of the medical research company’s stock valued at $41,000 after purchasing an additional 269 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in EXACT Sciences in the 2nd quarter valued at approximately $43,000. Steward Partners Investment Advisory LLC increased its holdings in EXACT Sciences by 129.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 497 shares of the medical research company’s stock valued at $45,000 after purchasing an additional 280 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. increased its holdings in EXACT Sciences by 31.8% in the 3rd quarter. Shine Investment Advisory Services Inc. now owns 518 shares of the medical research company’s stock valued at $47,000 after purchasing an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 86.66% of the company’s stock.

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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