FY2020 Earnings Estimate for Exact Sciences Co. Issued By Oppenheimer (NASDAQ:EXAS)
Exact Sciences Co. (NASDAQ:EXAS) – Research analysts at Oppenheimer lifted their FY2020 earnings estimates for shares of Exact Sciences in a research note issued to investors on Tuesday, January 12th. Oppenheimer analyst K. Degeeter now expects that the medical research company will post earnings per share of ($0.44) for the year, up from their prior forecast of ($0.56). Oppenheimer also issued estimates for Exact Sciences’ Q4 2020 earnings at ($0.15) EPS, FY2021 earnings at ($1.94) EPS and FY2022 earnings at ($2.69) EPS.
Several other brokerages have also recently issued reports on EXAS. SVB Leerink boosted their price target on shares of Exact Sciences from $115.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, October 28th. TheStreet upgraded shares of Exact Sciences from a “d+” rating to a “c” rating in a research report on Thursday, October 15th. Benchmark boosted their price target on shares of Exact Sciences from $110.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. BTIG Research boosted their price target on shares of Exact Sciences from $140.00 to $155.00 in a research report on Wednesday, October 28th. Finally, Canaccord Genuity boosted their price target on shares of Exact Sciences from $160.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $127.20.
Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Sunday, November 1st. The medical research company reported ($1.46) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.95). The firm had revenue of $408.40 million for the quarter, compared to the consensus estimate of $337.43 million. Exact Sciences had a negative net margin of 25.27% and a negative return on equity of 11.71%. The business’s revenue was up 86.7% on a year-over-year basis. During the same period last year, the company posted ($0.31) earnings per share.
In other news, CEO Kevin T. Conroy sold 30,577 shares of the firm’s stock in a transaction dated Tuesday, December 1st. The shares were sold at an average price of $124.56, for a total value of $3,808,671.12. Following the completion of the sale, the chief executive officer now owns 886,295 shares in the company, valued at approximately $110,396,905.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Katherine S. Zanotti sold 20,000 shares of Exact Sciences stock in a transaction dated Monday, December 14th. The shares were sold at an average price of $132.06, for a total transaction of $2,641,200.00. Following the sale, the director now owns 40,171 shares of the company’s stock, valued at approximately $5,304,982.26. The disclosure for this sale can be found here. Insiders sold a total of 115,210 shares of company stock valued at $14,520,315 over the last three months. Corporate insiders own 1.80% of the company’s stock.
Large investors have recently bought and sold shares of the company. IFM Investors Pty Ltd grew its position in shares of Exact Sciences by 25.7% in the 4th quarter. IFM Investors Pty Ltd now owns 15,023 shares of the medical research company’s stock worth $1,990,000 after buying an additional 3,075 shares during the last quarter. Redpoint Investment Management Pty Ltd grew its position in Exact Sciences by 23.5% during the 4th quarter. Redpoint Investment Management Pty Ltd now owns 3,818 shares of the medical research company’s stock worth $506,000 after purchasing an additional 726 shares during the last quarter. Mountain Capital Investment Advisors Inc purchased a new stake in Exact Sciences during the 4th quarter worth approximately $204,000. Baldwin Brothers Inc. MA purchased a new stake in shares of Exact Sciences in the 4th quarter valued at $46,000. Finally, Perkins Coie Trust Co boosted its holdings in shares of Exact Sciences by 6.1% in the 4th quarter. Perkins Coie Trust Co now owns 8,650 shares of the medical research company’s stock valued at $1,146,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 79.58% of the company’s stock.
Exact Sciences Company Profile
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 colorectal cancer and pre-cancer. It also provides Oncotype DX, a gene expression tests for breast, prostate, and colon cancers; and Oncotype DX AR-V7 Nucleus Detect Test, a liquid-based test for advanced stage prostate cancer.
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