FY2024 EPS Forecast for Exact Sciences Decreased by Analyst

Exact Sciences Co. (NASDAQ:EXAS - Free Report) - Stock analysts at William Blair reduced their FY2024 earnings per share estimates for Exact Sciences in a research report issued on Thursday, November 21st. William Blair analyst A. Brackmann now anticipates that the medical research company will post earnings per share of ($1.07) for the year, down from their previous estimate of ($0.81). William Blair has a "Outperform" rating on the stock. The consensus estimate for Exact Sciences' current full-year earnings is ($1.13) per share. William Blair also issued estimates for Exact Sciences' Q4 2024 earnings at ($0.28) EPS, Q1 2025 earnings at ($0.40) EPS, Q2 2025 earnings at ($0.06) EPS, Q3 2025 earnings at $0.12 EPS, Q4 2025 earnings at $0.15 EPS and FY2025 earnings at ($0.19) EPS.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The company had revenue of $708.66 million for the quarter, compared to analysts' expectations of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The business's revenue was up 12.8% on a year-over-year basis.

Several other research analysts have also issued reports on the company. Stifel Nicolaus dropped their target price on Exact Sciences from $82.00 to $67.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. Canaccord Genuity Group reduced their target price on Exact Sciences from $95.00 to $75.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Raymond James reissued a "market perform" rating on shares of Exact Sciences in a research note on Thursday, September 26th. TD Cowen reduced their price target on shares of Exact Sciences from $90.00 to $82.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Finally, Craig Hallum lowered their price objective on shares of Exact Sciences from $82.00 to $65.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $74.47.

Exact Sciences Stock Up 4.2 %

Shares of EXAS stock traded up $2.23 during trading hours on Monday, reaching $55.14. 3,091,913 shares of the stock were exchanged, compared to its average volume of 2,644,590. Exact Sciences has a 12-month low of $40.62 and a 12-month high of $79.62. The company's 50-day moving average price is $64.79 and its 200-day moving average price is $55.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93.

Insiders Place Their Bets

In other news, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the sale, the executive vice president now directly owns 13,687 shares in the company, valued at approximately $958,090. The trade was a 6.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Kevin T. Conroy bought 19,500 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the transaction, the chief executive officer now owns 1,074,191 shares in the company, valued at $55,159,707.85. This trade represents a 1.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.36% of the company's stock.

Institutional Trading of Exact Sciences

Large investors have recently added to or reduced their stakes in the company. William Blair Investment Management LLC purchased a new stake in Exact Sciences in the second quarter valued at approximately $163,896,000. Groupama Asset Managment purchased a new stake in shares of Exact Sciences in the 3rd quarter valued at $821,000. Sculptor Capital LP acquired a new stake in shares of Exact Sciences in the second quarter worth $32,819,000. Samlyn Capital LLC purchased a new position in shares of Exact Sciences during the second quarter worth $30,426,000. Finally, Armistice Capital LLC raised its holdings in shares of Exact Sciences by 91.6% during the second quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company's stock worth $59,154,000 after purchasing an additional 669,438 shares during the last quarter. Hedge funds and other institutional investors own 88.82% of the company's stock.

About Exact Sciences

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.