Brian Baranick Sells 929 Shares of Exact Sciences Co. (NASDAQ:EXAS) Stock

Exact Sciences Co. (NASDAQ:EXAS) EVP Brian Baranick sold 929 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the transaction, the executive vice president now owns 13,687 shares in the company, valued at $958,090. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Exact Sciences Stock Down 1.0 %

EXAS stock opened at $70.09 on Friday. The company has a market capitalization of $12.93 billion, a price-to-earnings ratio of -53.10 and a beta of 1.26. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.98 and a current ratio of 2.17. The business’s 50 day moving average price is $56.85 and its two-hundred day moving average price is $55.78. Exact Sciences Co. has a fifty-two week low of $40.62 and a fifty-two week high of $79.62.

Exact Sciences (NASDAQ:EXAS) last released its earnings results on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.28. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The firm had revenue of $699.26 million for the quarter, compared to the consensus estimate of $690.02 million. During the same period in the prior year, the firm earned ($0.45) EPS. The company’s revenue was up 12.4% compared to the same quarter last year. As a group, analysts forecast that Exact Sciences Co. will post -0.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Exact Sciences

A number of institutional investors have recently modified their holdings of the stock. Itau Unibanco Holding S.A. purchased a new position in shares of Exact Sciences in the 2nd quarter worth about $29,000. Benjamin F. Edwards & Company Inc. increased its stake in Exact Sciences by 65.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 179 shares in the last quarter. Able Wealth Management LLC purchased a new position in Exact Sciences in the fourth quarter worth about $45,000. EverSource Wealth Advisors LLC lifted its stake in shares of Exact Sciences by 92.4% in the first quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock worth $49,000 after buying an additional 340 shares in the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in shares of Exact Sciences during the first quarter valued at approximately $55,000. 88.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on EXAS shares. Benchmark cut their price objective on Exact Sciences from $91.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Jefferies Financial Group started coverage on shares of Exact Sciences in a research report on Monday, June 3rd. They set a “buy” rating and a $75.00 price target on the stock. Scotiabank assumed coverage on shares of Exact Sciences in a research note on Thursday, June 27th. They set a “sector outperform” rating and a $70.00 price target on the stock. The Goldman Sachs Group cut their price objective on shares of Exact Sciences from $88.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $75.00 target price on shares of Exact Sciences in a research report on Friday, September 13th. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $78.14.

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.