Exact Sciences (NASDAQ:EXAS) Shares Down 4.2%

Exact Sciences Co. (NASDAQ:EXAS) shares traded down 4.2% during trading on Thursday . The company traded as low as $97.79 and last traded at $97.99. 27,095 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 1,538,048 shares. The stock had previously closed at $102.25.

A number of research analysts recently commented on the company. Wells Fargo & Company increased their price target on Exact Sciences from $115.00 to $120.00 and gave the company an “equal weight” rating in a report on Monday, June 21st. Robert W. Baird reduced their price target on Exact Sciences from $157.00 to $127.00 and set an “outperform” rating for the company in a report on Thursday, July 29th. Canaccord Genuity reduced their target price on Exact Sciences from $185.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, July 29th. SVB Leerink reduced their target price on Exact Sciences from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Wednesday, July 14th. Finally, Stifel Nicolaus reduced their target price on Exact Sciences from $165.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, July 29th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Exact Sciences currently has an average rating of “Buy” and an average price target of $149.06.

The company has a current ratio of 2.47, a quick ratio of 2.34 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $16.51 billion, a price-to-earnings ratio of -17.59 and a beta of 1.29. The firm has a 50-day moving average of $104.01 and a 200 day moving average of $115.01.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Tuesday, July 27th. The medical research company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.31). Exact Sciences had a negative net margin of 50.52% and a negative return on equity of 8.93%. The business had revenue of $434.82 million during the quarter, compared to analyst estimates of $418.76 million. Equities research analysts predict that Exact Sciences Co. will post -3.17 EPS for the current fiscal year.

In other news, Director Katherine S. Zanotti sold 1,381 shares of Exact Sciences stock in a transaction on Friday, July 30th. The stock was sold at an average price of $111.11, for a total transaction of $153,442.91. Following the transaction, the director now directly owns 34,741 shares in the company, valued at approximately $3,860,072.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Jeffrey Thomas Elliott sold 38,361 shares of Exact Sciences stock in a transaction on Thursday, July 29th. The shares were sold at an average price of $111.40, for a total value of $4,273,415.40. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the company. Keybank National Association OH boosted its stake in shares of Exact Sciences by 272.0% during the 1st quarter. Keybank National Association OH now owns 5,981 shares of the medical research company’s stock worth $788,000 after acquiring an additional 4,373 shares in the last quarter. The PNC Financial Services Group Inc. boosted its stake in shares of Exact Sciences by 209.6% during the 1st quarter. The PNC Financial Services Group Inc. now owns 11,614 shares of the medical research company’s stock worth $1,531,000 after acquiring an additional 7,863 shares in the last quarter. D.A. Davidson & CO. boosted its stake in shares of Exact Sciences by 215.5% during the 1st quarter. D.A. Davidson & CO. now owns 6,374 shares of the medical research company’s stock worth $840,000 after acquiring an additional 4,354 shares in the last quarter. Mariner LLC boosted its stake in shares of Exact Sciences by 108.9% during the 1st quarter. Mariner LLC now owns 25,340 shares of the medical research company’s stock worth $3,339,000 after acquiring an additional 13,208 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of Exact Sciences by 33.0% during the 1st quarter. Advisors Asset Management Inc. now owns 14,140 shares of the medical research company’s stock worth $1,863,000 after acquiring an additional 3,505 shares in the last quarter. Institutional investors own 88.31% of the company’s stock.

Exact Sciences Company Profile (NASDAQ:EXAS)

EXACT Sciences Corp. is a molecular diagnostics company, which focuses on the early detection and prevention of colorectal cancer. It developed Cologuard, a screening test for the early detection of colorectal cancer and pre-cancer. The company was founded on February 10, 1995 and is headquartered in Madison, WI.

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