Exact Sciences Corporation (EXAS) Given New $58.00 Price Target at Bank of America Corporation

Exact Sciences Corporation (NASDAQ:EXAS) had its target price increased by Bank of America Corporation from $56.00 to $58.00 in a research report sent to investors on Tuesday morning. They currently have a buy rating on the medical research company’s stock.

Several other research analysts also recently commented on the stock. Canaccord Genuity raised shares of Exact Sciences Corporation to a buy rating and set a $60.00 price target on the stock in a research note on Tuesday. Robert W. Baird raised their price target on shares of Exact Sciences Corporation from $49.00 to $56.00 and gave the stock an outperform rating in a research note on Tuesday. Craig Hallum raised their price target on shares of Exact Sciences Corporation from $46.00 to $61.00 and gave the stock a buy rating in a research note on Tuesday. Benchmark Co. reaffirmed a buy rating and issued a $60.00 price target (up previously from $50.00) on shares of Exact Sciences Corporation in a research note on Tuesday. Finally, Leerink Swann reaffirmed an outperform rating and issued a $63.00 price target (up previously from $50.00) on shares of Exact Sciences Corporation in a research note on Tuesday. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $49.71.

Shares of Exact Sciences Corporation (NASDAQ:EXAS) traded down 3.9833% during midday trading on Tuesday, hitting $52.7996. 2,024,255 shares of the stock were exchanged. The stock’s market cap is $6.29 billion. The firm has a 50 day moving average of $47.06 and a 200-day moving average of $38.47. Exact Sciences Corporation has a 12 month low of $13.05 and a 12 month high of $57.95.

Exact Sciences Corporation (NASDAQ:EXAS) last posted its quarterly earnings results on Monday, October 30th. The medical research company reported ($0.23) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.07. The company had revenue of $72.60 million for the quarter, compared to the consensus estimate of $65.03 million. Exact Sciences Corporation had a negative net margin of 60.71% and a negative return on equity of 32.85%. The firm’s revenue was up 158.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.36) EPS. Equities research analysts anticipate that Exact Sciences Corporation will post ($1.17) EPS for the current year.

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In other news, insider Graham Peter Lidgard sold 81,025 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $47.16, for a total value of $3,821,139.00. Following the sale, the insider now directly owns 366,519 shares in the company, valued at approximately $17,285,036.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas D. Carey purchased 2,500 shares of the stock in a transaction dated Thursday, August 17th. The stock was purchased at an average price of $37.71 per share, for a total transaction of $94,275.00. Following the completion of the acquisition, the director now directly owns 60,858 shares in the company, valued at approximately $2,294,955.18. The disclosure for this purchase can be found here. Insiders sold a total of 231,598 shares of company stock worth $10,182,030 over the last 90 days. Company insiders own 4.00% of the company’s stock.

Several large investors have recently added to or reduced their stakes in EXAS. Fortaleza Asset Management Inc. bought a new stake in shares of Exact Sciences Corporation in the 2nd quarter valued at about $106,000. Krilogy Financial LLC boosted its holdings in shares of Exact Sciences Corporation by 1,460.0% in the 2nd quarter. Krilogy Financial LLC now owns 3,900 shares of the medical research company’s stock valued at $138,000 after buying an additional 3,650 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Exact Sciences Corporation by 17.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,072 shares of the medical research company’s stock valued at $144,000 after buying an additional 600 shares in the last quarter. Financial Architects Inc boosted its holdings in shares of Exact Sciences Corporation by 90.0% in the 2nd quarter. Financial Architects Inc now owns 4,295 shares of the medical research company’s stock valued at $152,000 after buying an additional 2,035 shares in the last quarter. Finally, Johnson Financial Group Inc. boosted its holdings in shares of Exact Sciences Corporation by 25.9% in the 2nd quarter. Johnson Financial Group Inc. now owns 4,862 shares of the medical research company’s stock valued at $172,000 after buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 85.12% of the company’s stock.

Exact Sciences Corporation Company Profile

Exact Sciences Corporation is a molecular diagnostics company. The Company focuses on the early detection and prevention of some forms of cancer. It offers a non-invasive screening test called Cologuard for the early detection of colorectal cancer and pre-cancer. Its Cologuard test is a stool-based deoxyribonucleic acid (sDNA) screening test, which utilizes a multi-target approach to detect deoxyribonucleic acid (DNA) and hemoglobin biomarkers associated with colorectal cancer and pre-cancer.

Analyst Recommendations for Exact Sciences Corporation (NASDAQ:EXAS)

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