Exact Sciences Co. (NASDAQ:EXAS) EVP Brian Baranick Sells 929 Shares of Stock

Exact Sciences Co. (NASDAQ:EXAS) EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the transaction, the executive vice president now owns 13,687 shares in the company, valued at approximately $958,090. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Exact Sciences Stock Performance

Shares of EXAS stock opened at $70.83 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.17 and a quick ratio of 1.98. The company’s fifty day moving average price is $56.33 and its two-hundred day moving average price is $55.68. The firm has a market capitalization of $13.07 billion, a P/E ratio of -53.66 and a beta of 1.26. Exact Sciences Co. has a 12 month low of $40.62 and a 12 month high of $79.62.

Exact Sciences (NASDAQ:EXAS) last released 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 for the quarter, compared to analysts’ expectations of $690.02 million. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The company’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.45) earnings per share. On average, research analysts anticipate that Exact Sciences Co. will post -0.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

EXAS has been the topic of a number of research analyst reports. Benchmark reduced their target price on Exact Sciences from $91.00 to $67.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Jefferies Financial Group began 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. BTIG Research dropped their target price on shares of Exact Sciences from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. Wells Fargo & Company assumed coverage on shares of Exact Sciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price target on the stock. Finally, Scotiabank started coverage on shares of Exact Sciences in a research note on Thursday, June 27th. They set a “sector outperform” rating and a $70.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Exact Sciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.14.

Hedge Funds Weigh In On Exact Sciences

Institutional investors have recently made changes to their positions in the business. Sanctuary Advisors LLC bought a new stake in shares of Exact Sciences in the second quarter worth $906,000. Cetera Investment Advisers grew its holdings in Exact Sciences by 52.2% during the 2nd quarter. Cetera Investment Advisers now owns 163,841 shares of the medical research company’s stock worth $6,922,000 after acquiring an additional 56,174 shares in the last quarter. Kimelman & Baird LLC bought a new stake in shares of Exact Sciences in the 2nd quarter worth about $84,000. Creative Planning raised its stake in shares of Exact Sciences by 17.6% in the 2nd quarter. Creative Planning now owns 33,154 shares of the medical research company’s stock valued at $1,401,000 after purchasing an additional 4,954 shares in the last quarter. Finally, Scientech Research LLC bought a new position in shares of Exact Sciences during the second quarter worth about $346,000. 88.82% of the stock is owned by institutional investors and hedge funds.

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.