EXACT Sciences (NASDAQ:EXAS) Announces Earnings Results, Beats Expectations By $0.04 EPS
EXACT Sciences (NASDAQ:EXAS) issued its quarterly earnings data on Thursday. The medical research company reported ($0.58) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.62) by $0.04, MarketWatch Earnings reports. The firm had revenue of $268.87 million during the quarter, compared to analysts’ expectations of $229.62 million. EXACT Sciences had a negative net margin of 13.65% and a negative return on equity of 14.49%.
Shares of EXAS traded down $3.15 during trading hours on Friday, reaching $94.75. 2,653,309 shares of the company traded hands, compared to its average volume of 1,106,099. The stock’s fifty day moving average is $90.52 and its 200 day moving average is $81.95. The stock has a market cap of $14.21 billion, a P/E ratio of -89.39 and a beta of 1.89. The company has a debt-to-equity ratio of 0.64, a quick ratio of 5.81 and a current ratio of 6.09. EXACT Sciences has a 1-year low of $35.25 and a 1-year high of $123.31.
A number of brokerages recently issued reports on EXAS. Canaccord Genuity decreased their price objective on shares of EXACT Sciences from $120.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, May 7th. SVB Leerink upped their price objective on shares of EXACT Sciences from $90.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday. Bank of America upped their price objective on shares of EXACT Sciences from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. ValuEngine cut shares of EXACT Sciences from a “strong-buy” rating to a “buy” rating in a report on Friday, April 17th. Finally, Oppenheimer restated a “buy” rating on shares of EXACT Sciences in a report on Wednesday, July 8th. Eighteen research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus price target of $105.80.
EXACT Sciences Company Profile
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.
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