Exact Sciences Q4 EPS Forecast Reduced by Leerink Partnrs

Exact Sciences Co. (NASDAQ:EXAS) – Leerink Partnrs lowered their Q4 2024 earnings per share estimates for Exact Sciences in a research report issued on Tuesday, January 21st. Leerink Partnrs analyst P. Souda now forecasts that the medical research company will post earnings of ($0.31) per share for the quarter, down from their previous estimate of ($0.30). The consensus estimate for Exact Sciences’ current full-year earnings is ($1.10) per share. Leerink Partnrs also issued estimates for Exact Sciences’ Q2 2025 earnings at $0.02 EPS.

A number of other brokerages have also weighed in on EXAS. Canaccord Genuity Group dropped their target price on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Barclays assumed coverage on Exact Sciences in a research note on Thursday. They set an “overweight” rating and a $70.00 price target for the company. Bank of America lowered their target price on Exact Sciences from $75.00 to $72.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Sanford C. Bernstein lifted their price objective on shares of Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird lowered their price target on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $72.76.

Exact Sciences Stock Performance

NASDAQ:EXAS opened at $55.13 on Thursday. The stock has a 50-day moving average price of $57.41 and a 200 day moving average price of $59.32. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72. Exact Sciences has a 12-month low of $40.62 and a 12-month high of $79.62. The stock has a market capitalization of $10.20 billion, a P/E ratio of -47.12 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The firm had revenue of $708.66 million during the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year.

Insiders Place Their Bets

In other news, CEO Kevin T. Conroy bought 19,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at $55,159,707.85. This trade represents a 1.85 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.36% of the company’s stock.

Institutional Trading of Exact Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Huntington National Bank raised its position in shares of Exact Sciences by 838.1% in the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after acquiring an additional 352 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in shares of Exact Sciences in the third quarter valued at approximately $34,000. Capital Performance Advisors LLP purchased a new position in shares of Exact Sciences during the 3rd quarter valued at approximately $35,000. Modus Advisors LLC acquired a new stake in Exact Sciences in the 4th quarter valued at $43,000. Finally, Vestor Capital LLC purchased a new stake in Exact Sciences in the 3rd quarter worth $46,000. Institutional investors and hedge funds own 88.82% 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.