Q2 2019 EPS Estimates for EXACT Sciences Co. Raised by Analyst (EXAS)

EXACT Sciences Co. (NASDAQ:EXAS) – Jefferies Financial Group boosted their Q2 2019 earnings per share (EPS) estimates for EXACT Sciences in a report issued on Wednesday, May 1st, according to Zacks Investment Research. Jefferies Financial Group analyst B. Couillard now expects that the medical research company will post earnings per share of ($0.52) for the quarter, up from their prior estimate of ($0.58). Jefferies Financial Group has a “Buy” rating and a $115.00 price target on the stock. Jefferies Financial Group also issued estimates for EXACT Sciences’ Q3 2019 earnings at ($0.51) EPS, Q4 2019 earnings at ($0.54) EPS, FY2019 earnings at ($2.23) EPS, Q3 2020 earnings at ($0.30) EPS, FY2020 earnings at ($1.23) EPS and FY2021 earnings at ($0.10) EPS.

EXACT Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Tuesday, April 30th. The medical research company reported ($0.66) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.65) by ($0.01). The company had revenue of $162.00 million for the quarter, compared to the consensus estimate of $153.07 million. EXACT Sciences had a negative net margin of 41.58% and a negative return on equity of 28.83%. The company’s revenue was up 79.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.33) earnings per share.

EXAS has been the subject of a number of other reports. Zacks Investment Research downgraded EXACT Sciences from a “buy” rating to a “hold” rating in a research note on Wednesday, February 13th. UBS Group boosted their price objective on EXACT Sciences from $109.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Robert W. Baird boosted their price objective on EXACT Sciences from $90.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday, February 21st. BTIG Research boosted their price objective on EXACT Sciences to $110.00 and gave the company a “positive” rating in a research note on Friday, February 22nd. Finally, Goldman Sachs Group upgraded EXACT Sciences from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $120.00 in a research note on Tuesday, February 26th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. EXACT Sciences has an average rating of “Buy” and a consensus price target of $108.45.

Shares of NASDAQ:EXAS traded up $3.83 during mid-day trading on Monday, reaching $101.55. 1,748,179 shares of the company traded hands, compared to its average volume of 1,848,442. The company has a market cap of $12.62 billion, a PE ratio of -74.67 and a beta of 1.84. The company has a current ratio of 8.39, a quick ratio of 8.13 and a debt-to-equity ratio of 1.02. EXACT Sciences has a 52 week low of $47.78 and a 52 week high of $105.28.

In other news, insider Kevin T. Conroy sold 11,227 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $87.21, for a total transaction of $979,106.67. Following the sale, the insider now directly owns 949,753 shares of the company’s stock, valued at approximately $82,827,959.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Stenhouse sold 11,192 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $92.54, for a total value of $1,035,707.68. Following the sale, the insider now directly owns 25,500 shares in the company, valued at $2,359,770. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc raised its holdings in shares of EXACT Sciences by 2.6% during the 3rd quarter. Vanguard Group Inc now owns 10,498,087 shares of the medical research company’s stock worth $828,509,000 after acquiring an additional 261,239 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its holdings in shares of EXACT Sciences by 5.7% during the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 2,005,394 shares of the medical research company’s stock worth $173,707,000 after acquiring an additional 107,603 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of EXACT Sciences by 6.7% during the 1st quarter. Geode Capital Management LLC now owns 1,278,331 shares of the medical research company’s stock worth $110,729,000 after acquiring an additional 80,491 shares in the last quarter. Eagle Asset Management Inc. raised its holdings in shares of EXACT Sciences by 10.0% during the 1st quarter. Eagle Asset Management Inc. now owns 1,096,623 shares of the medical research company’s stock worth $94,989,000 after acquiring an additional 100,072 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of EXACT Sciences during the 4th quarter worth approximately $67,273,000. 86.35% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History and Estimates for EXACT Sciences (NASDAQ:EXAS)

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