Exact Sciences (NASDAQ:EXAS) Sees Unusually-High Trading Volume – Time to Buy?

Exact Sciences Corporation (NASDAQ:EXAS) saw strong trading volume on Friday . 5,342,348 shares changed hands during trading, an increase of 128% from the previous session’s volume of 2,344,816 shares.The stock last traded at $104.9650 and had previously closed at $103.92.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Robert W. Baird set a $105.00 price target on shares of Exact Sciences in a report on Thursday, November 20th. Zacks Research lowered shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. BTIG Research downgraded shares of Exact Sciences from a “buy” rating to a “neutral” rating in a research report on Thursday, November 20th. Leerink Partners cut Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. Finally, Wolfe Research cut Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. Twenty-one investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Exact Sciences currently has an average rating of “Reduce” and a consensus target price of $92.13.

Exact Sciences Trading Up 1.0%

The company has a market cap of $20.03 billion, a price-to-earnings ratio of -95.41, a PEG ratio of 2.36 and a beta of 1.41. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.43 and a quick ratio of 2.17. The business’s 50-day simple moving average is $103.00 and its 200-day simple moving average is $85.19.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Friday, February 13th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.29). Exact Sciences had a positive return on equity of 0.53% and a negative net margin of 6.40%.The business had revenue of $878.38 million for the quarter, compared to analysts’ expectations of $860.59 million. During the same period last year, the business earned ($0.06) earnings per share. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. Research analysts predict that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

Institutional Trading of Exact Sciences

Institutional investors and hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP lifted its stake in shares of Exact Sciences by 1,553.1% during the second quarter. Marshall Wace LLP now owns 429,719 shares of the medical research company’s stock valued at $22,835,000 after buying an additional 403,724 shares during the period. Holocene Advisors LP grew its stake in Exact Sciences by 189.5% in the 2nd quarter. Holocene Advisors LP now owns 2,145,181 shares of the medical research company’s stock worth $113,995,000 after acquiring an additional 1,404,086 shares during the period. Fisher Asset Management LLC raised its holdings in Exact Sciences by 25.5% in the 3rd quarter. Fisher Asset Management LLC now owns 198,287 shares of the medical research company’s stock valued at $10,848,000 after acquiring an additional 40,258 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Exact Sciences by 643.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,286,595 shares of the medical research company’s stock valued at $70,390,000 after acquiring an additional 1,113,459 shares during the last quarter. Finally, Prudential Financial Inc. lifted its stake in shares of Exact Sciences by 255.4% during the 2nd quarter. Prudential Financial Inc. now owns 34,720 shares of the medical research company’s stock worth $1,845,000 after purchasing an additional 24,951 shares during the period. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Exact Sciences Company Profile

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.