EXACT Sciences (EXAS) Issues Earnings Results, Beats Expectations By $0.05 EPS

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EXACT Sciences (NASDAQ:EXAS) posted its quarterly earnings data on Tuesday. The medical research company reported ($0.37) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.42) by $0.05, MarketWatch Earnings reports. EXACT Sciences had a negative net margin of 35.24% and a negative return on equity of 20.10%. The company had revenue of $118.29 million for the quarter, compared to analyst estimates of $109.33 million. During the same period in the prior year, the company posted ($0.23) EPS. The firm’s revenue for the quarter was up 63.0% on a year-over-year basis. EXACT Sciences updated its FY 2018 guidance to EPS.

Shares of NASDAQ EXAS traded up $6.81 during midday trading on Wednesday, reaching $71.21. 199,517 shares of the company’s stock traded hands, compared to its average volume of 1,803,273. The company has a debt-to-equity ratio of 0.87, a quick ratio of 15.37 and a current ratio of 15.79. EXACT Sciences has a one year low of $37.36 and a one year high of $81.22. The company has a market cap of $7.95 billion, a PE ratio of -72.45 and a beta of 0.98.

A number of equities analysts have recently commented on the stock. Benchmark reaffirmed a “hold” rating on shares of EXACT Sciences in a research report on Wednesday, September 5th. Cowen raised their target price on shares of EXACT Sciences from $65.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 5th. Jefferies Financial Group reaffirmed a “buy” rating and set a $84.00 target price (up from $74.00) on shares of EXACT Sciences in a research report on Wednesday. BidaskClub lowered shares of EXACT Sciences from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. Finally, Craig Hallum raised their target price on shares of EXACT Sciences from $54.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, August 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $84.08.

In other news, 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 transaction of $184,729.80. Following the transaction, the director now directly owns 9,112 shares in the company, valued at $682,033.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider D Scott Coward sold 2,190 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $79.51, for a total transaction of $174,126.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,658 shares of company stock worth $4,381,737. Insiders own 3.20% of the company’s stock.

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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Earnings History for EXACT Sciences (NASDAQ:EXAS)

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