-$1.08 Earnings Per Share Expected for Exact Sciences Co. (NASDAQ:EXAS) This Quarter

Brokerages expect Exact Sciences Co. (NASDAQ:EXASGet Rating) to post ($1.08) earnings per share for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Exact Sciences’ earnings, with the lowest EPS estimate coming in at ($1.15) and the highest estimate coming in at ($0.91). Exact Sciences reported earnings per share of ($1.03) in the same quarter last year, which would suggest a negative year-over-year growth rate of 4.9%. The firm is scheduled to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Exact Sciences will report full year earnings of ($4.26) per share for the current year, with EPS estimates ranging from ($4.46) to ($3.80). For the next year, analysts anticipate that the business will post earnings of ($3.25) per share, with EPS estimates ranging from ($4.01) to ($2.78). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Exact Sciences.

Exact Sciences (NASDAQ:EXASGet Rating) last issued its quarterly earnings data on Tuesday, April 26th. The medical research company reported ($1.04) earnings per share for the quarter, topping the consensus estimate of ($1.12) by $0.08. Exact Sciences had a negative net margin of 40.26% and a negative return on equity of 21.82%. The firm had revenue of $486.57 million for the quarter, compared to analysts’ expectations of $461.86 million. During the same quarter in the prior year, the business earned ($0.18) EPS.

Several equities analysts recently weighed in on EXAS shares. Craig Hallum cut their target price on shares of Exact Sciences from $100.00 to $81.00 in a research note on Wednesday, April 27th. Raymond James reduced their target price on shares of Exact Sciences from $90.00 to $80.00 in a report on Wednesday, April 27th. Robert W. Baird reduced their target price on shares of Exact Sciences from $100.00 to $90.00 in a report on Wednesday, April 27th. StockNews.com downgraded shares of Exact Sciences from a “hold” rating to a “sell” rating in a report on Saturday, May 7th. Finally, The Goldman Sachs Group reduced their target price on shares of Exact Sciences from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, April 19th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $113.00.

In other news, CEO Kevin T. Conroy sold 14,409 shares of the firm’s stock in a transaction that occurred on Tuesday, February 15th. The shares were sold at an average price of $79.55, for a total value of $1,146,235.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider D Scott Coward sold 5,815 shares of the firm’s stock in a transaction that occurred on Thursday, February 24th. The shares were sold at an average price of $70.10, for a total transaction of $407,631.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,636 shares of company stock valued at $4,443,252. Company insiders own 1.40% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of EXAS. Mine & Arao Wealth Creation & Management LLC. boosted its stake in shares of Exact Sciences by 1,562.5% in the third quarter. Mine & Arao Wealth Creation & Management LLC. now owns 266 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 250 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in Exact Sciences in the fourth quarter worth approximately $28,000. FSB Premier Wealth Management Inc. purchased a new position in Exact Sciences in the fourth quarter worth approximately $36,000. Masso Torrence Wealth Management Inc. purchased a new position in Exact Sciences in the fourth quarter worth approximately $37,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in Exact Sciences in the fourth quarter worth approximately $37,000. 94.45% of the stock is owned by institutional investors and hedge funds.

NASDAQ EXAS opened at $48.20 on Thursday. Exact Sciences has a 12 month low of $47.87 and a 12 month high of $133.99. The stock has a market cap of $8.48 billion, a price-to-earnings ratio of -11.16 and a beta of 1.23. The company’s 50 day moving average is $64.62 and its two-hundred day moving average is $75.46. The company has a current ratio of 2.53, a quick ratio of 2.29 and a debt-to-equity ratio of 0.67.

About Exact Sciences (Get Rating)

Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX, a gene expression tests for breast, prostate, and colon cancers; Oncotype Test, a tissue test delivering tumor profiling to aid therapy selection for patients with advanced, metastatic, refractory, or recurrent cancer; Oncotype DX AR-V7 Nucleus Detect Test, a liquid-based test for advanced stage prostate cancer; Oncomap ExTra, that provides a complete biological picture of certain refractory, rare, or aggressive cancers; and Covid-19 testing services.

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