SVB Leerink Analysts Raise Earnings Estimates for Exact Sciences Co. (NASDAQ:EXAS)

Exact Sciences Co. (NASDAQ:EXASGet Rating) – Equities researchers at SVB Leerink raised their Q3 2022 EPS estimates for shares of Exact Sciences in a research note issued to investors on Wednesday, August 3rd. SVB Leerink analyst P. Souda now forecasts that the medical research company will earn ($1.10) per share for the quarter, up from their prior forecast of ($1.13). The consensus estimate for Exact Sciences’ current full-year earnings is ($4.24) per share. SVB Leerink also issued estimates for Exact Sciences’ Q4 2022 earnings at ($1.07) EPS, FY2022 earnings at ($4.15) EPS, Q1 2023 earnings at ($0.80) EPS, Q2 2023 earnings at ($0.77) EPS, Q3 2023 earnings at ($0.72) EPS, Q4 2023 earnings at ($0.73) EPS, FY2023 earnings at ($3.01) EPS, Q1 2024 earnings at ($0.50) EPS, Q2 2024 earnings at ($0.52) EPS and FY2024 earnings at ($1.95) EPS.

Several other research analysts have also recently commented on the stock. Robert W. Baird decreased their target price on shares of Exact Sciences from $90.00 to $75.00 and set an “outperform” rating for the company in a research report on Wednesday. Raymond James cut their target price on shares of Exact Sciences from $80.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday. Craig Hallum cut their target price on shares of Exact Sciences from $81.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday. Cowen cut their target price on shares of Exact Sciences from $83.00 to $67.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Citigroup cut their target price on shares of Exact Sciences from $65.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Exact Sciences presently has an average rating of “Moderate Buy” and a consensus price target of $73.09.

Exact Sciences Price Performance

Shares of NASDAQ:EXAS opened at $47.05 on Friday. The company has a quick ratio of 2.29, a current ratio of 2.48 and a debt-to-equity ratio of 0.70. Exact Sciences has a fifty-two week low of $35.34 and a fifty-two week high of $108.99. The firm has a 50-day simple moving average of $44.58 and a 200 day simple moving average of $59.00. The company has a market cap of $8.28 billion, a PE ratio of -11.12 and a beta of 1.32.

Insider Buying and Selling at Exact Sciences

In other Exact Sciences news, Director Katherine S. Zanotti sold 4,608 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $45.14, for a total value of $208,005.12. Following the transaction, the director now owns 60,318 shares in the company, valued at approximately $2,722,754.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Katherine S. Zanotti sold 4,608 shares of the stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $45.14, for a total transaction of $208,005.12. Following the transaction, the director now owns 60,318 shares in the company, valued at approximately $2,722,754.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Katherine S. Zanotti sold 1,086 shares of the stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $40.13, for a total transaction of $43,581.18. Following the transaction, the director now owns 60,318 shares in the company, valued at approximately $2,420,561.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,701 shares of company stock worth $251,872. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC grew its stake in Exact Sciences by 44.4% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 667 shares of the medical research company’s stock valued at $26,000 after buying an additional 205 shares during the last quarter. Ellevest Inc. grew its stake in Exact Sciences by 103.6% in the 2nd quarter. Ellevest Inc. now owns 682 shares of the medical research company’s stock valued at $27,000 after buying an additional 347 shares during the last quarter. FSB Premier Wealth Management Inc. acquired a new position in Exact Sciences in the 4th quarter valued at $36,000. Masso Torrence Wealth Management Inc. acquired a new position in Exact Sciences in the 4th quarter valued at $37,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in Exact Sciences in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

About Exact Sciences

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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, a gene expression tests for breast, prostate, and colon cancers; Oncotype Test, a tissue test delivering tumor profiling to aid therapy selection for patients with advanced, metastatic, refractory, or recurrent cancer; Oncotype DX AR-V7 Nucleus Detect Test, a liquid-based test for advanced stage prostate cancer; Oncomap ExTra, that provides a complete biological picture of certain refractory, rare, or aggressive cancers; and Covid-19 testing services.

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Earnings History and Estimates for Exact Sciences (NASDAQ:EXAS)

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