Analysts Expect EXACT Sciences Co. (EXAS) Will Announce Quarterly Sales of $87.30 Million
Equities analysts predict that EXACT Sciences Co. (NASDAQ:EXAS) will announce $87.30 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for EXACT Sciences’ earnings. The lowest sales estimate is $87.10 million and the highest is $87.50 million. EXACT Sciences posted sales of $35.24 million during the same quarter last year, which would indicate a positive year over year growth rate of 147.7%. The firm is scheduled to report its next quarterly earnings report after the market closes on Thursday, February 22nd.
According to Zacks, analysts expect that EXACT Sciences will report full year sales of $87.30 million for the current year, with estimates ranging from $265.70 million to $266.08 million. For the next financial year, analysts anticipate that the company will post sales of $410.03 million per share, with estimates ranging from $388.10 million to $428.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that follow EXACT Sciences.
Several brokerages have recently issued reports on EXAS. Leerink Swann reissued an “outperform” rating and set a $67.00 price objective (up from $63.00) on shares of EXACT Sciences in a research note on Monday, November 13th. Robert W. Baird cut shares of EXACT Sciences from an “outperform” rating to a “neutral” rating and set a $56.00 price objective for the company. in a research note on Monday, November 13th. Bank of America boosted their price objective on shares of EXACT Sciences from $58.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, November 29th. Zacks Investment Research cut shares of EXACT Sciences from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Finally, BTIG Research cut shares of EXACT Sciences from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 1st. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. EXACT Sciences presently has a consensus rating of “Buy” and an average price target of $52.84.
In related news, insider Kevin T. Conroy sold 134,057 shares of EXACT Sciences stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $59.50, for a total transaction of $7,976,391.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP D Scott Coward sold 1,665 shares of EXACT Sciences stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $52.54, for a total transaction of $87,479.10. Following the transaction, the senior vice president now owns 37,558 shares in the company, valued at approximately $1,973,297.32. The disclosure for this sale can be found here. Insiders have sold a total of 764,182 shares of company stock worth $40,574,047 in the last 90 days. Company insiders own 4.00% of the company’s stock.
Several large investors have recently bought and sold shares of EXAS. New York State Common Retirement Fund lifted its holdings in shares of EXACT Sciences by 8.9% during the 2nd quarter. New York State Common Retirement Fund now owns 156,741 shares of the medical research company’s stock valued at $5,544,000 after acquiring an additional 12,821 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of EXACT Sciences during the 2nd quarter valued at $217,000. California Public Employees Retirement System lifted its holdings in shares of EXACT Sciences by 5.9% during the 2nd quarter. California Public Employees Retirement System now owns 185,100 shares of the medical research company’s stock valued at $6,547,000 after acquiring an additional 10,300 shares in the last quarter. Advisor Group Inc. lifted its holdings in shares of EXACT Sciences by 0.8% during the 2nd quarter. Advisor Group Inc. now owns 7,866 shares of the medical research company’s stock valued at $270,000 after acquiring an additional 65 shares in the last quarter. Finally, Dimensional Fund Advisors LP acquired a new position in shares of EXACT Sciences during the 2nd quarter valued at $3,939,000. Institutional investors and hedge funds own 83.12% of the company’s stock.
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About EXACT Sciences
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.
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