Exact Sciences (NASDAQ:EXAS) Cut to “Hold” at Evercore ISI

Exact Sciences (NASDAQ:EXAS) was downgraded by analysts at Evercore ISI from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other equities analysts also recently commented on EXAS. Benchmark downgraded shares of Exact Sciences from a “buy” rating to a “hold” rating in a report on Monday, November 24th. Leerink Partnrs lowered Exact Sciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 20th. Citigroup downgraded Exact Sciences from a “buy” rating to a “hold” rating in a research report on Thursday, November 20th. Zacks Research upgraded shares of Exact Sciences from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $105.00 price objective (up from $85.00) on shares of Exact Sciences in a research report on Thursday, November 20th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, twenty have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $87.06.

Exact Sciences Stock Down 0.1%

Shares of NASDAQ EXAS opened at $101.61 on Monday. The company has a current ratio of 2.72, a quick ratio of 2.44 and a debt-to-equity ratio of 0.93. Exact Sciences has a 12-month low of $38.81 and a 12-month high of $102.66. The firm’s 50-day moving average price is $90.01 and its 200-day moving average price is $65.58. The stock has a market capitalization of $19.25 billion, a price-to-earnings ratio of -19.10, a P/E/G ratio of 2.40 and a beta of 1.40.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Monday, November 3rd. The medical research company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.11. The business had revenue of $850.74 million for the quarter, compared to the consensus estimate of $810.42 million. Exact Sciences had a positive return on equity of 1.67% and a negative net margin of 32.01%.The company’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.21) earnings per share. On average, equities research analysts anticipate that Exact Sciences will post -0.58 EPS for the current fiscal year.

Insider Activity

In related news, EVP Brian Baranick sold 2,858 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $70.08, for a total value of $200,288.64. Following the completion of the transaction, the executive vice president owned 22,368 shares of the company’s stock, valued at $1,567,549.44. The trade was a 11.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James Edward Doyle sold 2,000 shares of the company’s stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $60.00, for a total value of $120,000.00. Following the sale, the director owned 57,962 shares of the company’s stock, valued at approximately $3,477,720. This represents a 3.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 9,858 shares of company stock worth $695,289. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in Exact Sciences by 25.5% in the fourth quarter. GAMMA Investing LLC now owns 5,080 shares of the medical research company’s stock worth $516,000 after purchasing an additional 1,033 shares during the last quarter. Allworth Financial LP boosted its position in shares of Exact Sciences by 6.6% in the 3rd quarter. Allworth Financial LP now owns 7,323 shares of the medical research company’s stock worth $401,000 after purchasing an additional 452 shares in the last quarter. Swiss Life Asset Management Ltd grew its stake in Exact Sciences by 5.8% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 8,521 shares of the medical research company’s stock worth $466,000 after buying an additional 469 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in Exact Sciences by 47.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,333 shares of the medical research company’s stock valued at $237,000 after buying an additional 1,399 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new stake in Exact Sciences in the third quarter worth about $507,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

About Exact Sciences

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.