Exact Sciences (NASDAQ:EXAS) Shares Gap Up to $63.86

Shares of Exact Sciences Co. (NASDAQ:EXAS) gapped up prior to trading on Wednesday . The stock had previously closed at $63.86, but opened at $65.62. Exact Sciences shares last traded at $64.78, with a volume of 252,393 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EXAS. Citigroup reiterated a “buy” rating and issued a $100.00 price objective on shares of Exact Sciences in a research note on Wednesday, April 3rd. William Blair restated an “outperform” rating on shares of Exact Sciences in a research report on Thursday, February 22nd. Canaccord Genuity Group decreased their price target on Exact Sciences from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. TheStreet lowered Exact Sciences from a “c-” rating to a “d+” rating in a research report on Monday, February 26th. Finally, Benchmark upgraded Exact Sciences from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Tuesday, January 2nd. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.44.

Exact Sciences Trading Up 0.4 %

The company has a quick ratio of 2.07, a current ratio of 2.32 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $11.52 billion, a P/E ratio of -55.68 and a beta of 1.25. The firm has a 50 day moving average of $63.41 and a 200-day moving average of $65.10.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.26. Exact Sciences had a negative return on equity of 6.60% and a negative net margin of 8.17%. The business had revenue of $646.89 million during the quarter, compared to analysts’ expectations of $638.83 million. During the same period in the previous year, the company posted ($0.72) earnings per share. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, equities research analysts predict that Exact Sciences Co. will post -0.86 earnings per share for the current fiscal year.

Insider Activity

In other news, General Counsel James Herriott sold 421 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $61.43, for a total value of $25,862.03. Following the completion of the transaction, the general counsel now directly owns 6,494 shares in the company, valued at approximately $398,926.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, General Counsel James Herriott sold 421 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $61.43, for a total value of $25,862.03. Following the completion of the sale, the general counsel now directly owns 6,494 shares in the company, valued at $398,926.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sarah Condella sold 2,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $70.00, for a total value of $140,000.00. Following the completion of the sale, the executive vice president now owns 71,787 shares of the company’s stock, valued at $5,025,090. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,113 shares of company stock worth $4,165,273. Insiders own 1.30% of the company’s stock.

Institutional Trading of Exact Sciences

A number of large investors have recently bought and sold shares of EXAS. KB Financial Partners LLC bought a new position in shares of Exact Sciences during the 2nd quarter worth about $32,000. Wolff Wiese Magana LLC boosted its position in shares of Exact Sciences by 459.5% during the 4th quarter. Wolff Wiese Magana LLC now owns 414 shares of the medical research company’s stock worth $31,000 after purchasing an additional 340 shares in the last quarter. BluePath Capital Management LLC bought a new position in shares of Exact Sciences during the 3rd quarter worth about $33,000. Coppell Advisory Solutions LLC bought a new position in shares of Exact Sciences during the 2nd quarter worth about $46,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Exact Sciences during the 3rd quarter worth about $34,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Exact Sciences Company Profile

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 Breast Recurrence Score Test; Oncotype DX Breast DCIS Score Test; Oncotype DX Colon Recurrence Score Test; OncoExTra Test for tumor profiling for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer; and Covid-19 testing services.