Stifel Nicolaus Initiates Coverage on EXACT Sciences (NASDAQ:EXAS)

Stifel Nicolaus began coverage on shares of EXACT Sciences (NASDAQ:EXAS) in a report issued on Thursday morning, Briefing.com Automated Import reports. The firm issued a buy rating and a $110.00 price objective on the medical research company’s stock.

Several other analysts have also issued reports on the stock. Jefferies Financial Group reduced their price objective on shares of EXACT Sciences from $138.00 to $120.00 and set a buy rating on the stock in a report on Wednesday, October 30th. UBS Group reduced their price objective on shares of EXACT Sciences from $143.00 to $135.00 and set a buy rating on the stock in a report on Wednesday, October 30th. BidaskClub lowered shares of EXACT Sciences from a hold rating to a sell rating in a report on Friday, November 8th. Robert W. Baird reduced their price objective on shares of EXACT Sciences from $130.00 to $125.00 and set an outperform rating on the stock in a report on Wednesday, October 30th. Finally, Leerink Swann reduced their price objective on shares of EXACT Sciences from $133.00 to $105.00 and set an outperform rating on the stock in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $123.64.

Shares of NASDAQ EXAS traded up $0.11 during trading on Thursday, hitting $82.16. 1,939,300 shares of the company were exchanged, compared to its average volume of 1,838,550. The firm has a market capitalization of $10.29 billion, a PE ratio of -60.41 and a beta of 1.37. EXACT Sciences has a 12-month low of $53.06 and a 12-month high of $123.99. The company has a fifty day moving average price of $89.89 and a 200-day moving average price of $105.28. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.63 and a current ratio of 2.75.

EXACT Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Tuesday, October 29th. The medical research company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.10. The firm had revenue of $218.81 million for the quarter, compared to analyst estimates of $216.14 million. EXACT Sciences had a negative net margin of 29.83% and a negative return on equity of 29.06%. EXACT Sciences’s revenue was up 85.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.37) EPS. Research analysts anticipate that EXACT Sciences will post -1.62 earnings per share for the current fiscal year.

In other news, SVP Scott C. Johnson sold 3,527 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $108.63, for a total transaction of $383,138.01. Following the completion of the transaction, the senior vice president now directly owns 7,934 shares of the company’s stock, valued at $861,870.42. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.20% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. NumerixS Investment Technologies Inc acquired a new position in shares of EXACT Sciences during the second quarter worth about $35,000. Harvest Fund Management Co. Ltd acquired a new position in EXACT Sciences in the second quarter valued at approximately $43,000. Coastal Investment Advisors Inc. boosted its holdings in EXACT Sciences by 95.5% in the second quarter. Coastal Investment Advisors Inc. now owns 391 shares of the medical research company’s stock valued at $47,000 after purchasing an additional 191 shares in the last quarter. NEXT Financial Group Inc acquired a new position in EXACT Sciences in the second quarter valued at approximately $50,000. Finally, HM Payson & Co. acquired a new position in EXACT Sciences in the second quarter valued at approximately $59,000. 86.88% of the stock is 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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Analyst Recommendations for EXACT Sciences (NASDAQ:EXAS)

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