Exact Sciences (NASDAQ:EXAS) Reaches New 52-Week High at $83.07

Exact Sciences Co. (NASDAQ:EXAS – Get Rating) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $83.07 and last traded at $82.38, with a volume of 343510 shares trading hands. The stock had previously closed at $81.28.

Analysts Set New Price Targets

EXAS has been the topic of a number of research reports. Robert W. Baird raised their price objective on shares of Exact Sciences from $92.00 to $99.00 in a report on Wednesday, May 10th. Benchmark lifted their price objective on shares of Exact Sciences from $54.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, March 15th. BTIG Research boosted their target price on shares of Exact Sciences from $80.00 to $90.00 in a research note on Wednesday, May 10th. Bank of America lifted their price objective on Exact Sciences from $80.00 to $88.00 in a report on Wednesday, May 10th. Finally, Stifel Nicolaus boosted their target price on shares of Exact Sciences from $75.00 to $85.00 in a report on Wednesday, May 10th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $79.13.

Exact Sciences Price Performance

The company has a market cap of $15.00 billion, a P/E ratio of -28.49 and a beta of 1.41. The company has a fifty day moving average price of $68.00 and a two-hundred day moving average price of $59.55. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.63 and a current ratio of 2.97.

Exact Sciences (NASDAQ:EXAS – Get Rating) last announced its quarterly earnings data on Tuesday, May 9th. The medical research company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.37. The business had revenue of $602.00 million for the quarter, compared to analysts’ expectations of $543.18 million. Exact Sciences had a negative net margin of 23.49% and a negative return on equity of 16.64%. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same period last year, the firm posted ($1.04) earnings per share. On average, sell-side analysts anticipate that Exact Sciences Co. will post -2.24 earnings per share for the current fiscal year.

Insider Activity at Exact Sciences

In other news, EVP Sarah Condella sold 6,087 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $80.00, for a total transaction of $486,960.00. Following the transaction, the executive vice president now owns 80,314 shares in the company, valued at $6,425,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel James Herriott sold 2,225 shares of the stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $60.43, for a total transaction of $134,456.75. Following the completion of the transaction, the general counsel now directly owns 9,224 shares of the company’s stock, valued at approximately $557,406.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sarah Condella sold 6,087 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $80.00, for a total transaction of $486,960.00. Following the sale, the executive vice president now owns 80,314 shares in the company, valued at $6,425,120. The disclosure for this sale can be found here. Insiders have sold a total of 50,170 shares of company stock worth $3,320,986 over the last quarter. Company insiders own 1.30% of the company’s stock.

Institutional Trading of Exact Sciences

A number of institutional investors have recently modified their holdings of EXAS. Park Place Capital Corp lifted its stake in Exact Sciences by 189.2% in the 1st quarter. Park Place Capital Corp now owns 376 shares of the medical research company’s stock worth $25,000 after purchasing an additional 246 shares in the last quarter. Desjardins Global Asset Management Inc. increased its holdings in shares of Exact Sciences by 42.2% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 549 shares of the medical research company’s stock worth $27,000 after buying an additional 163 shares during the last quarter. True Wealth Design LLC bought a new position in shares of Exact Sciences in the 4th quarter worth $30,000. Signaturefd LLC increased its holdings in shares of Exact Sciences by 45.7% in the 3rd quarter. Signaturefd LLC now owns 957 shares of the medical research company’s stock worth $31,000 after buying an additional 300 shares during the last quarter. Finally, Assetmark Inc. bought a new position in shares of Exact Sciences in the 4th quarter worth $31,000. 90.30% of the stock is currently owned by hedge funds and other institutional investors.

About Exact Sciences

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EXACT Sciences Corp. is a cancer screening and diagnostics company. The firm 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 and Oncotype DX. The company was founded on February 10, 1995, and is headquartered in Madison, WI.