EXACT Sciences (EXAS) Cut to Buy at BidaskClub
BidaskClub downgraded shares of EXACT Sciences (NASDAQ:EXAS) from a strong-buy rating to a buy rating in a report released on Wednesday morning.
A number of other equities analysts have also commented on the stock. Bank of America set a $56.00 price objective on shares of EXACT Sciences and gave the stock a buy rating in a research note on Thursday, October 19th. Canaccord Genuity reiterated a buy rating and issued a $45.00 target price on shares of EXACT Sciences in a research report on Thursday, September 7th. Leerink Swann reiterated an outperform rating and issued a $67.00 target price (up previously from $63.00) on shares of EXACT Sciences in a research report on Monday, November 13th. Robert W. Baird downgraded shares of EXACT Sciences from an outperform rating to a neutral rating and set a $56.00 target price for the company. in a research report on Monday, November 13th. Finally, Jefferies Group increased their target price on shares of EXACT Sciences to $60.00 and gave the stock a buy rating in a research report on Tuesday, October 31st. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $50.58.
EXACT Sciences (EXAS) traded down $0.61 during trading on Wednesday, reaching $53.83. 1,532,605 shares of the company were exchanged, compared to its average volume of 1,238,164. EXACT Sciences has a 1 year low of $13.05 and a 1 year high of $63.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.34 and a quick ratio of 9.98.
In other news, insider Graham Peter Lidgard sold 45,770 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $58.27, for a total transaction of $2,667,017.90. Following the transaction, the insider now owns 237,820 shares in the company, valued at approximately $13,857,771.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kevin T. Conroy sold 121,849 shares of the firm’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $53.45, for a total transaction of $6,512,829.05. Following the transaction, the insider now owns 951,901 shares in the company, valued at approximately $50,879,108.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 595,396 shares of company stock valued at $32,953,769. Insiders own 4.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in EXAS. Fred Alger Management Inc. bought a new position in shares of EXACT Sciences during the 2nd quarter valued at $84,177,000. Lord Abbett & CO. LLC raised its holdings in shares of EXACT Sciences by 59.1% during the 2nd quarter. Lord Abbett & CO. LLC now owns 2,356,706 shares of the medical research company’s stock valued at $83,357,000 after purchasing an additional 875,527 shares in the last quarter. Victory Capital Management Inc. bought a new position in shares of EXACT Sciences during the 2nd quarter valued at $29,450,000. Vanguard Group Inc. raised its holdings in shares of EXACT Sciences by 8.0% during the 2nd quarter. Vanguard Group Inc. now owns 9,459,679 shares of the medical research company’s stock valued at $334,589,000 after purchasing an additional 700,051 shares in the last quarter. Finally, Green Valley Investors LLC bought a new position in shares of EXACT Sciences during the 2nd quarter valued at $20,892,000. Institutional investors and hedge funds own 82.39% of the company’s stock.
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EXACT Sciences Company Profile
Exact Sciences Corporation is a molecular diagnostics company. The Company focuses on the early detection and prevention of some forms of cancer. It offers a non-invasive screening test called Cologuard for the early detection of colorectal cancer and pre-cancer. Its Cologuard test is a stool-based deoxyribonucleic acid (sDNA) screening test, which utilizes a multi-target approach to detect deoxyribonucleic acid (DNA) and hemoglobin biomarkers associated with colorectal cancer and pre-cancer.
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