FNY Investment Advisers LLC Buys Shares of 28,500 Exact Sciences Corporation $EXAS

FNY Investment Advisers LLC acquired a new position in shares of Exact Sciences Corporation (NASDAQ:EXAS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 28,500 shares of the medical research company’s stock, valued at approximately $2,894,000. Exact Sciences accounts for about 0.8% of FNY Investment Advisers LLC’s investment portfolio, making the stock its 23rd largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Earned Wealth Advisors LLC acquired a new position in Exact Sciences during the 4th quarter worth approximately $327,000. Legacy Capital Wealth Partners LLC bought a new stake in shares of Exact Sciences in the 4th quarter valued at about $42,000. Nisa Investment Advisors LLC lifted its position in shares of Exact Sciences by 50.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 34,188 shares of the medical research company’s stock valued at $3,472,000 after buying an additional 11,398 shares during the last quarter. Meyer Handelman Co. bought a new position in Exact Sciences during the fourth quarter worth $239,000. Finally, Birch Financial Group LLC bought a new stake in shares of Exact Sciences during the 4th quarter worth about $270,000. 88.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on EXAS. Zacks Research cut shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Evercore set a $105.00 target price on shares of Exact Sciences and gave the stock an “in-line” rating in a report on Monday, January 5th. Mizuho reaffirmed a “neutral” rating and issued a $105.00 target price (up from $85.00) on shares of Exact Sciences in a report on Tuesday, January 20th. BTIG Research reaffirmed a “neutral” rating on shares of Exact Sciences in a research note on Tuesday, March 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Exact Sciences in a research note on Thursday, January 22nd. Twenty-one research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Exact Sciences has an average rating of “Reduce” and an average target price of $92.13.

Exact Sciences Price Performance

Exact Sciences stock opened at $104.91 on Friday. The firm has a market capitalization of $20.03 billion, a price-to-earnings ratio of -95.37, a price-to-earnings-growth ratio of 2.02 and a beta of 1.41. The firm’s fifty day moving average price is $103.52 and its two-hundred day moving average price is $88.83. Exact Sciences Corporation has a 1-year low of $38.81 and a 1-year high of $104.98. The company has a current ratio of 2.43, a quick ratio of 2.17 and a debt-to-equity ratio of 0.97.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Friday, February 13th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.29). The business had revenue of $878.38 million during the quarter, compared to analyst estimates of $860.59 million. Exact Sciences had a positive return on equity of 0.53% and a negative net margin of 6.40%.The company’s revenue was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.06) EPS. On average, equities research analysts predict that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

Exact Sciences Profile

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.