Canaccord Genuity restated their buy rating on shares of EXACT Sciences (NASDAQ:EXAS) in a research note published on Wednesday morning, The Fly reports. The firm currently has a $125.00 price objective on the medical research company’s stock, up from their prior price objective of $118.00.
“We reiterate EXAS as a top pick for 2019 and we raise our PT to $125. Is EXAS still a start-up? We don’t often ascribe $15B companies as “start-ups,” but given its sub-5% penetration rate on just one product, management, vision, and momentum building in Madison (energized with the new opening of lab which expands its capacity by 133% to 7M tests/year), we believe EXAS is just getting started. Pfizer has been a “home run” so far – we expect momentum to accelerate. Management indicated that its three-year partnership with Pfizer has been a “home run” so far. Pfizer reps (particularly the OBGYN reps who were just trained in Jan ’19) aren’t fully ramped yet. Add to this that Pfizer’s Lyrica went off patent two weeks ago, there is good reason to think that the best days working with PFE have not been realized yet.”,” Canaccord Genuity’s analyst commented.
EXAS has been the topic of several other reports. UBS Group lowered shares of Advanced Disposal Services from a buy rating to a neutral rating and set a $33.00 price objective on the stock. in a report on Wednesday, May 1st. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Flagstar Bancorp from a hold rating to a buy rating and set a $38.00 price objective on the stock in a report on Monday, July 8th. BidaskClub lowered shares of Ames National from a hold rating to a sell rating in a report on Wednesday. BTIG Research increased their price objective on shares of Apple to $234.00 and gave the stock a buy rating in a report on Wednesday, May 1st. Finally, Craig Hallum increased their price objective on shares of 1-800-Flowers.Com from $26.00 to $20.00 and gave the stock a buy rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $109.82.
Shares of EXAS stock opened at $114.88 on Wednesday. The stock has a market cap of $14.84 billion, a price-to-earnings ratio of -84.47 and a beta of 1.64. EXACT Sciences has a 1-year low of $47.78 and a 1-year high of $121.98. The company has a debt-to-equity ratio of 1.02, a quick ratio of 8.13 and a current ratio of 8.39. The business’s 50-day moving average is $113.12.
EXACT Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Tuesday, April 30th. The medical research company reported ($0.66) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.65) by ($0.01). The company had revenue of $162.00 million for the quarter, compared to analysts’ expectations of $153.07 million. EXACT Sciences had a negative return on equity of 28.83% and a negative net margin of 41.58%. The company’s revenue was up 79.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.33) earnings per share. As a group, equities analysts expect that EXACT Sciences will post -2.2 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of EXAS. GSA Capital Partners LLP purchased a new position in EXACT Sciences in the fourth quarter valued at approximately $300,000. Great West Life Assurance Co. Can raised its holdings in EXACT Sciences by 13.6% in the fourth quarter. Great West Life Assurance Co. Can now owns 14,904 shares of the medical research company’s stock valued at $908,000 after buying an additional 1,779 shares during the period. Natixis Advisors L.P. raised its holdings in EXACT Sciences by 47.6% in the fourth quarter. Natixis Advisors L.P. now owns 17,095 shares of the medical research company’s stock valued at $1,079,000 after buying an additional 5,514 shares during the period. California State Teachers Retirement System raised its holdings in EXACT Sciences by 2.3% in the fourth quarter. California State Teachers Retirement System now owns 188,503 shares of the medical research company’s stock valued at $11,895,000 after buying an additional 4,251 shares during the period. Finally, Geode Capital Management LLC raised its holdings in EXACT Sciences by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 1,197,840 shares of the medical research company’s stock valued at $75,583,000 after buying an additional 69,128 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.
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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