Sanders Morris Harris LLC Invests $467,000 in Exact Sciences Co. (NASDAQ:EXAS)

Sanders Morris Harris LLC bought a new position in Exact Sciences Co. (NASDAQ:EXAS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,000 shares of the medical research company’s stock, valued at approximately $467,000.

Other institutional investors have also recently made changes to their positions in the company. Park Place Capital Corp lifted its holdings in shares of 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 acquiring an additional 246 shares during the last quarter. True Wealth Design LLC purchased a new position in Exact Sciences in the 4th quarter worth about $30,000. Assetmark Inc. purchased a new position in Exact Sciences in the 4th quarter worth about $31,000. TCI Wealth Advisors Inc. increased its stake in Exact Sciences by 15,466.7% in the 1st quarter. TCI Wealth Advisors Inc. now owns 467 shares of the medical research company’s stock worth $32,000 after buying an additional 464 shares during the period. Finally, Ameritas Advisory Services LLC purchased a new position in Exact Sciences in the 1st quarter worth about $32,000. Institutional investors own 89.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EXAS. Bank of America raised their price target on shares of Exact Sciences from $105.00 to $110.00 in a research note on Wednesday, August 2nd. Citigroup raised their price target on shares of Exact Sciences from $100.00 to $130.00 in a research note on Thursday, June 22nd. Credit Suisse Group raised their target price on shares of Exact Sciences from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, August 2nd. BTIG Research raised their target price on shares of Exact Sciences from $95.00 to $110.00 in a research report on Thursday, June 22nd. Finally, The Goldman Sachs Group raised their target price on shares of Exact Sciences from $85.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Exact Sciences currently has an average rating of “Moderate Buy” and an average price target of $97.00.

Exact Sciences Stock Down 0.9 %

Shares of Exact Sciences stock opened at $76.68 on Friday. The firm’s 50 day moving average price is $87.27 and its 200-day moving average price is $79.75. The company has a quick ratio of 2.14, a current ratio of 2.41 and a debt-to-equity ratio of 0.76. Exact Sciences Co. has a 52-week low of $29.27 and a 52-week high of $100.77. The company has a market cap of $13.85 billion, a P/E ratio of -31.56 and a beta of 1.41.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Tuesday, August 1st. The medical research company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.05. The firm had revenue of $622.10 million for the quarter, compared to the consensus estimate of $601.14 million. Exact Sciences had a negative net margin of 18.76% and a negative return on equity of 14.08%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.94) EPS. On average, sell-side analysts predict that Exact Sciences Co. will post -1.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other Exact Sciences news, CFO Jeffrey Thomas Elliott sold 30,210 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $82.92, for a total transaction of $2,505,013.20. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Exact Sciences news, CFO Jeffrey Thomas Elliott sold 30,210 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $82.92, for a total transaction of $2,505,013.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director James Edward Doyle sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $97.42, for a total transaction of $194,840.00. Following the sale, the director now directly owns 52,110 shares in the company, valued at approximately $5,076,556.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,860 shares of company stock valued at $2,944,657. Insiders own 1.30% of the company’s stock.

About Exact Sciences

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 Breast Recurrence Score Test; Oncotype DX Breast DCIS Score Test; Oncotype DX Colon Recurrence Score Test; OncoExTra Test for tumor profiling for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer; and Covid-19 testing services.