$356.11 Million in Sales Expected for EXACT Sciences Co. (NASDAQ:EXAS) This Quarter

Wall Street analysts predict that EXACT Sciences Co. (NASDAQ:EXAS) will post sales of $356.11 million for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for EXACT Sciences’ earnings, with the lowest sales estimate coming in at $322.90 million and the highest estimate coming in at $384.26 million. EXACT Sciences posted sales of $218.81 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 62.7%. The firm is scheduled to issue its next earnings results on Tuesday, November 3rd.

On average, analysts expect that EXACT Sciences will report full year sales of $1.39 billion for the current year, with estimates ranging from $1.32 billion to $1.44 billion. For the next year, analysts forecast that the company will report sales of $1.91 billion, with estimates ranging from $1.75 billion to $2.07 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for EXACT Sciences.

EXACT Sciences (NASDAQ:EXAS) last announced its earnings results on Thursday, July 30th. The medical research company reported ($0.58) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.62) by $0.04. EXACT Sciences had a negative net margin of 13.65% and a negative return on equity of 13.32%. The firm had revenue of $268.87 million for the quarter, compared to analyst estimates of $229.62 million.

EXAS has been the topic of a number of research analyst reports. BidaskClub lowered shares of EXACT Sciences from a “sell” rating to a “strong sell” rating in a report on Saturday, August 22nd. SVB Leerink lifted their price target on shares of EXACT Sciences from $90.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Benchmark lifted their price target on shares of EXACT Sciences from $90.00 to $110.00 and gave the company a “buy” rating in a report on Friday, July 31st. Citigroup lifted their price target on shares of EXACT Sciences from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, Zacks Investment Research upgraded shares of EXACT Sciences from a “hold” rating to a “buy” rating and set a $97.00 price target on the stock in a report on Monday, July 13th. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $105.80.

Shares of NASDAQ EXAS opened at $76.01 on Thursday. EXACT Sciences has a 1 year low of $35.25 and a 1 year high of $113.10. The firm’s 50 day moving average price is $82.24 and its 200 day moving average price is $78.97. The firm has a market cap of $11.41 billion, a P/E ratio of -71.71 and a beta of 1.70. The company has a debt-to-equity ratio of 0.62, a quick ratio of 6.40 and a current ratio of 6.77.

In related news, insider Torsten Hoof sold 7,964 shares of EXACT Sciences stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $84.90, for a total transaction of $676,143.60. Following the sale, the insider now owns 9,981 shares of the company’s stock, valued at approximately $847,386.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Katherine S. Zanotti sold 1,164 shares of EXACT Sciences stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $96.13, for a total transaction of $111,895.32. Following the sale, the director now directly owns 41,907 shares in the company, valued at approximately $4,028,519.91. The disclosure for this sale can be found here. Insiders have sold a total of 65,538 shares of company stock worth $5,721,343 in the last ninety days. 1.80% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC increased its position in shares of EXACT Sciences by 13.5% in the 2nd quarter. Parallel Advisors LLC now owns 901 shares of the medical research company’s stock worth $78,000 after purchasing an additional 107 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of EXACT Sciences by 21.5% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 706 shares of the medical research company’s stock worth $61,000 after purchasing an additional 125 shares during the last quarter. CSat Investment Advisory L.P. increased its position in shares of EXACT Sciences by 18.8% in the 1st quarter. CSat Investment Advisory L.P. now owns 826 shares of the medical research company’s stock worth $48,000 after purchasing an additional 131 shares during the last quarter. Synovus Financial Corp increased its position in shares of EXACT Sciences by 16.6% in the 2nd quarter. Synovus Financial Corp now owns 982 shares of the medical research company’s stock worth $85,000 after purchasing an additional 140 shares during the last quarter. Finally, Curbstone Financial Management Corp increased its position in shares of EXACT Sciences by 0.7% in the 2nd quarter. Curbstone Financial Management Corp now owns 21,150 shares of the medical research company’s stock worth $1,839,000 after purchasing an additional 150 shares during the last quarter. 87.15% of the stock is currently owned by hedge funds and other institutional investors.

EXACT Sciences Company Profile

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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Earnings History and Estimates for EXACT Sciences (NASDAQ:EXAS)

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