Leerink Partnrs Research Analysts Increase Earnings Estimates for Exact Sciences Co. (NASDAQ:EXAS)

Exact Sciences Co. (NASDAQ:EXAS) – Investment analysts at Leerink Partnrs upped their Q3 2024 EPS estimates for Exact Sciences in a research note issued on Wednesday, July 31st. Leerink Partnrs analyst P. Souda now forecasts that the medical research company will post earnings per share of ($0.15) for the quarter, up from their prior forecast of ($0.32). The consensus estimate for Exact Sciences’ current full-year earnings is ($1.17) per share. Leerink Partnrs also issued estimates for Exact Sciences’ Q4 2024 earnings at ($0.03) EPS, Q1 2025 earnings at ($0.13) EPS, Q2 2025 earnings at $0.00 EPS, Q3 2025 earnings at $0.04 EPS, Q4 2025 earnings at $0.22 EPS, FY2025 earnings at $0.13 EPS and FY2026 earnings at $0.94 EPS.

Several other analysts also recently commented on the stock. Evercore ISI reduced their price objective on shares of Exact Sciences from $80.00 to $72.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Benchmark decreased their price target on shares of Exact Sciences from $91.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Jefferies Financial Group assumed coverage on shares of Exact Sciences in a research report on Monday, June 3rd. They set a “buy” rating and a $75.00 price objective on the stock. Scotiabank began coverage on Exact Sciences in a research note on Thursday, June 27th. They issued a “sector outperform” rating and a $70.00 target price for the company. Finally, Canaccord Genuity Group dropped their price target on Exact Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Exact Sciences currently has an average rating of “Moderate Buy” and an average price target of $78.77.

Exact Sciences Trading Up 0.3 %

NASDAQ EXAS opened at $55.96 on Monday. Exact Sciences has a one year low of $40.62 and a one year high of $87.11. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.17 and a quick ratio of 1.45. The business has a 50 day simple moving average of $45.67 and a 200 day simple moving average of $55.90. The stock has a market capitalization of $10.34 billion, a P/E ratio of -42.39 and a beta of 1.22.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.28. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The firm had revenue of $699.26 million during the quarter, compared to analyst estimates of $690.02 million. During the same period last year, the company posted ($0.45) EPS. The business’s quarterly revenue was up 12.4% on a year-over-year basis.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Asahi Life Asset Management CO. LTD. lifted its position in shares of Exact Sciences by 4.2% during the 4th quarter. Asahi Life Asset Management CO. LTD. now owns 4,390 shares of the medical research company’s stock worth $325,000 after buying an additional 175 shares in the last quarter. Perigon Wealth Management LLC increased its position in shares of Exact Sciences by 2.1% during the first quarter. Perigon Wealth Management LLC now owns 8,516 shares of the medical research company’s stock valued at $588,000 after acquiring an additional 175 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in Exact Sciences by 65.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock worth $31,000 after acquiring an additional 179 shares during the period. National Bank of Canada FI boosted its position in Exact Sciences by 30.9% in the fourth quarter. National Bank of Canada FI now owns 848 shares of the medical research company’s stock worth $63,000 after purchasing an additional 200 shares during the last quarter. Finally, Sanders Morris Harris LLC grew its stake in Exact Sciences by 4.2% in the 1st quarter. Sanders Morris Harris LLC now owns 5,000 shares of the medical research company’s stock valued at $345,000 after purchasing an additional 200 shares during the period. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

About Exact Sciences

Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX Breast Recurrence Score Test; Oncotype DX Breast DCIS Score Test; Oncotype DX Colon Recurrence Score Test; OncoExTra Test for tumor profiling for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer; and Covid-19 testing services.