BidaskClub Downgrades EXACT Sciences (EXAS) to Hold
BidaskClub cut shares of EXACT Sciences (NASDAQ:EXAS) from a buy rating to a hold rating in a report issued on Friday morning.
A number of other equities analysts have also weighed in on the company. Cowen upped their price objective on EXACT Sciences from $65.00 to $100.00 and gave the stock an outperform rating in a research note on Wednesday, September 5th. Jefferies Financial Group reaffirmed a buy rating and issued a $74.00 price objective on shares of EXACT Sciences in a research note on Thursday, August 23rd. Bank of America dropped their price objective on EXACT Sciences from $75.00 to $68.00 and set a buy rating for the company in a research note on Thursday, August 2nd. BTIG Research upped their price objective on EXACT Sciences to $95.00 and gave the stock a buy rating in a research note on Wednesday, August 22nd. Finally, Zacks Investment Research raised EXACT Sciences from a sell rating to a hold rating in a research note on Tuesday, August 21st. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $81.73.
Shares of EXAS opened at $73.33 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 15.79 and a quick ratio of 15.37. The stock has a market capitalization of $9.26 billion, a price-to-earnings ratio of -74.07 and a beta of 0.96. EXACT Sciences has a 52 week low of $37.36 and a 52 week high of $80.35.
In related news, SVP D Scott Coward sold 2,135 shares of the stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $59.10, for a total transaction of $126,178.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael S. Wyzga sold 2,468 shares of the stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $74.85, for a total value of $184,729.80. Following the transaction, the director now directly owns 9,112 shares of the company’s stock, valued at $682,033.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,014 shares of company stock valued at $1,031,717. 3.20% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in EXAS. OppenheimerFunds Inc. boosted its stake in EXACT Sciences by 99.6% during the first quarter. OppenheimerFunds Inc. now owns 5,831,347 shares of the medical research company’s stock valued at $235,179,000 after buying an additional 2,910,506 shares during the last quarter. Artisan Partners Limited Partnership bought a new stake in shares of EXACT Sciences in the 1st quarter valued at approximately $60,243,000. KAMES CAPITAL plc bought a new stake in shares of EXACT Sciences in the 2nd quarter valued at approximately $46,879,000. Atlantic Trust Group LLC lifted its stake in shares of EXACT Sciences by 423.8% in the 1st quarter. Atlantic Trust Group LLC now owns 625,906 shares of the medical research company’s stock valued at $25,244,000 after purchasing an additional 506,404 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of EXACT Sciences by 76.9% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 1,107,136 shares of the medical research company’s stock valued at $66,196,000 after purchasing an additional 481,230 shares during the last quarter. 86.40% of the stock is owned by institutional investors.
About EXACT Sciences
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.
Further Reading: Intrinsic Value
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