EXACT Sciences Co. (NASDAQ:EXAS) CFO Sells $835,942.68 in Stock

EXACT Sciences Co. (NASDAQ:EXAS) CFO Jeffrey Thomas Elliott sold 8,746 shares of EXACT Sciences stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $95.58, for a total transaction of $835,942.68. Following the sale, the chief financial officer now owns 59,109 shares of the company’s stock, valued at $5,649,638.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

EXAS opened at $94.75 on Friday. EXACT Sciences Co. has a fifty-two week low of $35.25 and a fifty-two week high of $123.31. The company has a debt-to-equity ratio of 0.64, a quick ratio of 5.81 and a current ratio of 6.09. The company has a fifty day moving average of $90.52 and a two-hundred day moving average of $81.95. The stock has a market capitalization of $14.68 billion, a price-to-earnings ratio of -89.39 and a beta of 1.89.

EXACT Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Thursday, July 30th. The medical research company reported ($0.58) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.04. EXACT Sciences had a negative net margin of 13.65% and a negative return on equity of 14.49%. The company had revenue of $268.87 million during the quarter, compared to analysts’ expectations of $229.62 million. On average, equities research analysts forecast that EXACT Sciences Co. will post -1.63 earnings per share for the current year.

Several equities research analysts have recently commented on the stock. Citigroup lifted their price objective on shares of EXACT Sciences from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday. Canaccord Genuity decreased their target price on shares of EXACT Sciences from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. UBS Group decreased their target price on shares of EXACT Sciences from $135.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Robert W. Baird boosted their target price on shares of EXACT Sciences from $90.00 to $92.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Finally, Benchmark boosted their target price on shares of EXACT Sciences from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Friday. Eighteen research analysts have rated the stock with a buy rating, EXACT Sciences has a consensus rating of “Buy” and an average price target of $105.80.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Toth Financial Advisory Corp purchased a new stake in shares of EXACT Sciences during the second quarter worth about $26,000. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of EXACT Sciences during the first quarter worth about $27,000. Focused Wealth Management Inc increased its stake in shares of EXACT Sciences by 100.0% during the first quarter. Focused Wealth Management Inc now owns 516 shares of the medical research company’s stock worth $30,000 after purchasing an additional 258 shares in the last quarter. First Horizon Advisors Inc. increased its stake in shares of EXACT Sciences by 138.1% during the second quarter. First Horizon Advisors Inc. now owns 400 shares of the medical research company’s stock worth $34,000 after purchasing an additional 232 shares in the last quarter. Finally, Verus Capital Partners LLC increased its stake in shares of EXACT Sciences by 40.7% during the first quarter. Verus Capital Partners LLC now owns 691 shares of the medical research company’s stock worth $40,000 after purchasing an additional 200 shares in the last quarter. 86.66% of the stock is owned by institutional investors.

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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