Exact Sciences (NASDAQ:EXAS) Issues Earnings Results

Exact Sciences (NASDAQ:EXAS) released its quarterly earnings data on Tuesday. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01), Briefing.com reports. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The firm had revenue of $708.66 million during the quarter, compared to the consensus estimate of $716.80 million. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. Exact Sciences updated its FY 2024 guidance to EPS.

Exact Sciences Price Performance

EXAS stock traded down $1.49 on Thursday, reaching $53.23. The company had a trading volume of 4,749,040 shares, compared to its average volume of 2,604,700. Exact Sciences has a 1 year low of $40.62 and a 1 year high of $79.62. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.98 and a current ratio of 2.17. The company’s fifty day moving average is $67.14 and its 200 day moving average is $56.65. The company has a market cap of $9.84 billion, a P/E ratio of -57.00 and a beta of 1.27.

Insider Activity at Exact Sciences

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the completion of the transaction, the executive vice president now directly owns 12,758 shares in the company, valued at approximately $893,060. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.36% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Benchmark dropped their target price on Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday. Citigroup dropped their target price on Exact Sciences from $80.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday. The Goldman Sachs Group dropped their price objective on Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday. Jefferies Financial Group boosted their price objective on Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday. Finally, TD Cowen dropped their price objective on Exact Sciences from $90.00 to $82.00 and set a “buy” rating for the company in a report on Wednesday. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $75.06.

Exact Sciences Company Profile

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.