Exact Sciences (NASDAQ:EXAS) Issues Earnings Results

Exact Sciences (NASDAQ:EXAS) issued its quarterly earnings data on Tuesday. The medical research company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01), Briefing.com reports. The firm had revenue of $708.66 million during the quarter, compared to analyst estimates of $716.80 million. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. Exact Sciences updated its FY 2024 guidance to EPS.

Exact Sciences Stock Down 2.7 %

EXAS traded down $1.49 during trading on Thursday, reaching $53.23. The stock had a trading volume of 4,749,040 shares, compared to its average volume of 2,604,700. The stock’s 50 day moving average is $67.14 and its two-hundred day moving average is $56.65. The company has a current ratio of 2.17, a quick ratio of 1.98 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $9.84 billion, a price-to-earnings ratio of -57.00 and a beta of 1.27. Exact Sciences has a one year low of $40.62 and a one year high of $79.62.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Benchmark dropped their price objective on Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday. Wells Fargo & Company started coverage on Exact Sciences in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 target price for the company. The Goldman Sachs Group decreased their price target on Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday. Craig Hallum decreased their price target on Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, BTIG Research decreased their target price on Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Exact Sciences has an average rating of “Moderate Buy” and a consensus target price of $75.06.

Insiders Place Their Bets

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the completion of the transaction, the executive vice president now owns 12,758 shares in the company, valued at approximately $893,060. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.36% of the stock is owned by corporate insiders.

About Exact Sciences

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.