Kimelman & Baird LLC Invests $84,000 in Exact Sciences Co. (NASDAQ:EXAS)

Kimelman & Baird LLC acquired a new stake in Exact Sciences Co. (NASDAQ:EXAS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,997 shares of the medical research company’s stock, valued at approximately $84,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in shares of Exact Sciences during the second quarter valued at approximately $29,000. Benjamin F. Edwards & Company Inc. raised its stake in Exact Sciences by 65.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 179 shares in the last quarter. Able Wealth Management LLC bought a new position in shares of Exact Sciences in the fourth quarter worth $45,000. EverSource Wealth Advisors LLC increased its holdings in shares of Exact Sciences by 92.4% during the first quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock valued at $49,000 after purchasing an additional 340 shares during the period. Finally, Fortitude Family Office LLC bought a new stake in shares of Exact Sciences during the first quarter valued at about $55,000. 88.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Brian Baranick sold 929 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the sale, the executive vice president now directly owns 13,687 shares in the company, valued at $958,090. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.36% of the stock is currently owned by corporate insiders.

Exact Sciences Stock Up 3.3 %

Shares of Exact Sciences stock opened at $68.12 on Tuesday. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $79.62. The company has a market cap of $12.57 billion, a P/E ratio of -51.61 and a beta of 1.26. The company has a current ratio of 2.17, a quick ratio of 1.98 and a debt-to-equity ratio of 0.73. The stock has a 50-day moving average price of $59.72 and a 200 day moving average price of $56.16.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Wednesday, July 31st. The medical research company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.28. The business had revenue of $699.26 million during the quarter, compared to analysts’ expectations of $690.02 million. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period last year, the company posted ($0.45) earnings per share. As a group, analysts expect that Exact Sciences Co. will post -0.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Evercore ISI lowered their target price on shares of Exact Sciences from $80.00 to $72.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Piper Sandler boosted their target price on Exact Sciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, September 12th. The Goldman Sachs Group decreased their price target on Exact Sciences from $88.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Jefferies Financial Group started coverage on Exact Sciences in a research note on Monday, June 3rd. They issued a “buy” rating and a $75.00 price objective on the stock. Finally, Raymond James reaffirmed a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $77.77.

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 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.