AdvisorNet Financial Inc trimmed its stake in EXACT Sciences Co. (NASDAQ:EXAS) by 24.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,812 shares of the medical research company’s stock after selling 4,490 shares during the quarter. AdvisorNet Financial Inc’s holdings in EXACT Sciences were worth $1,630,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. UBP Investment Advisors SA purchased a new position in shares of EXACT Sciences in the first quarter valued at $286,000. Great Valley Advisor Group Inc. boosted its stake in shares of EXACT Sciences by 85.3% in the first quarter. Great Valley Advisor Group Inc. now owns 9,129 shares of the medical research company’s stock valued at $791,000 after purchasing an additional 4,203 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of EXACT Sciences in the first quarter valued at $495,000. GAM Holding AG purchased a new position in shares of EXACT Sciences in the first quarter valued at $2,745,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of EXACT Sciences in the first quarter valued at $618,000. Hedge funds and other institutional investors own 89.37% of the company’s stock.
Several brokerages have recently weighed in on EXAS. Cowen upped their target price on shares of EXACT Sciences from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. They noted that the move was a valuation call. BidaskClub downgraded shares of EXACT Sciences from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Zacks Investment Research upgraded shares of EXACT Sciences from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a research note on Thursday, August 1st. Canaccord Genuity restated a “buy” rating and issued a $125.00 target price (up from $118.00) on shares of EXACT Sciences in a research note on Wednesday, July 17th. Finally, BTIG Research upped their target price on shares of EXACT Sciences to $130.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. EXACT Sciences has a consensus rating of “Buy” and a consensus price target of $118.91.
EXAS opened at $118.22 on Friday. The firm’s fifty day moving average price is $116.60 and its 200 day moving average price is $101.04. The company has a quick ratio of 2.69, a current ratio of 2.79 and a debt-to-equity ratio of 0.65. EXACT Sciences Co. has a 12-month low of $47.93 and a 12-month high of $123.99.
EXACT Sciences (NASDAQ:EXAS) last issued its earnings results on Monday, July 29th. The medical research company reported ($0.30) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.56) by $0.26. The company had revenue of $199.87 million for the quarter, compared to analysts’ expectations of $182.18 million. EXACT Sciences had a negative net margin of 35.43% and a negative return on equity of 28.90%. The firm’s revenue was up 94.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.30) earnings per share. As a group, research analysts predict that EXACT Sciences Co. will post -1.74 EPS for the current year.
About EXACT Sciences
Exact Sciences Corporation, a molecular diagnostics company, focuses on developing products for the early detection and prevention of various cancers in the United States. The company offers Cologuard, a non-invasive stool-based DNA screening test for the early detection of colorectal cancer and pre-cancer.
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