Exact Sciences Co. (NASDAQ: EXAS) Expected to Post Fiscal 2023 Earnings of ($ 1.23) Per Share
Exact Sciences Co. (NASDAQ: EXAS) – Research analysts at SVB Leerink released their earnings per share (EPS) estimates for fiscal 2023 for Exact Sciences in a research report released on Wednesday, November 3. SVB Leerink analyst P. Souda predicts the medical research company will earn ($ 1.23) per share for the year. SVB Leerink currently has an âOutperformanceâ rating and a target share price of $ 140.00.
A number of other research companies have also recently commented on EXAS. Wells Fargo & Company reduced its price target on Exact Sciences from $ 120.00 to $ 95.00 and set an “equal weight” rating for the company in a research report released Wednesday. Cowen reduced his price target on Exact Sciences from $ 160.00 to $ 135 and established an “outperformance” rating for the company in a research report released Thursday, October 14. Canaccord Genuity reduced its price target on Exact Sciences from $ 185.00 to $ 160.00 and established a âbuyâ rating for the company in a research report on Thursday, July 29. BTIG Research reduced its price target on Exact Sciences from $ 145.00 to $ 120.00 and set a “buy” rating for the company in a research report released Wednesday. Finally, Raymond James reduced Exact Sciences from a “strong buy” rating to an “outperform” rating and lowered its price target for the company from $ 160.00 to $ 130.00 in a research report published Wednesday. One investment analyst rated the stock with a sell rating, another issued a custody rating, and twelve issued a buy rating for the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $ 136.64.
Exact science actions open for $ 94.32 Thursday. The stock has a market cap of $ 16.22 billion, a PE ratio of -18.98 and a beta of 1.21. Exact Sciences has a 12-month low of $ 85.82 and a 12-month high of $ 159.54. The company has a 50-day simple moving average of $ 98.87 and a 200-day simple moving average of $ 108.24. The company has a debt ratio of 0.53, a current ratio of 2.47, and a quick ratio of 2.34. Exact Sciences (NASDAQ: EXAS) last reported its quarterly results on Monday, November 1. The medical research firm reported ($ 0.97) earnings per share (EPS) for the quarter, missing ($ 0.08) Zacks’ consensus estimate of ($ 0.89). Exact Sciences posted a negative net margin of 46.14% and a negative return on equity of 11.63%. During the same period last year, the company made earnings per share ($ 0.36).
Separately, CEO Kevin T. Conroy sold 17,078 shares of the company in a trade on Friday, October 1. The stock was sold for an average price of $ 93.64, for a total value of $ 1,599,183.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Additionally, CEO Kevin T. Conroy sold 16,922 shares of the company in a trade on Monday, November 1. The shares were sold for an average price of $ 93.88, for a total value of $ 1,588,637.36. Disclosure of this sale can be found here. 1.40% of the shares are currently owned by insiders.
Several institutional investors have recently changed their positions in the company. Price T Rowe Associates Inc. MD increased its stake in Exact Sciences shares by 8.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 19,789,343 shares of the medical research company valued at $ 2,460,013,000 after purchasing an additional 1,495,404 shares in the last quarter. Vanguard Group Inc. increased its stake in Exact Sciences shares by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 15,410,555 shares of the medical research company valued at $ 1,915,686,000 after purchasing an additional 307,132 shares in the last quarter. ARK Investment Management LLC increased its stake in Exact Sciences shares by 17.3% in the 2nd quarter. ARK Investment Management LLC now owns 10,726,790 shares of the medical research company valued at $ 1,333,447,000 after purchasing an additional 1,578,155 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Exact Sciences by 25.0% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,679,730 shares of the medical research company valued at $ 446,680,000 after acquiring an additional 936,245 shares in the last quarter. Finally, Baillie Gifford & Co. increased its stake in Exact Sciences by 2.7% during the second quarter. Baillie Gifford & Co. now owns 4,466,127 shares of the medical research company valued at $ 555,184,000 after acquiring 119,101 additional shares in the last quarter. 88.78% of the shares are currently held by institutional investors and hedge funds.
Company Profile Exact Sciences
EXACT Sciences Corp. is a molecular diagnostics company focused on the early detection and prevention of colorectal cancer. She developed Cologuard, a screening test for the early detection of colorectal cancer and pre-cancer. The company was founded on February 10, 1995 and is headquartered in Madison, WI.
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