Analysts Set Expectations for Exact Sciences Q4 Earnings

Exact Sciences Co. (NASDAQ:EXAS - Free Report) - Stock analysts at Leerink Partnrs lowered their Q4 2024 EPS estimates for Exact Sciences in a research report issued on Wednesday, November 6th. Leerink Partnrs analyst P. Souda now expects that the medical research company will earn ($0.30) per share for the quarter, down from their previous estimate of ($0.04). The consensus estimate for Exact Sciences' current full-year earnings is ($0.87) per share. Leerink Partnrs also issued estimates for Exact Sciences' Q1 2025 earnings at ($0.10) EPS, Q2 2025 earnings at $0.02 EPS, Q3 2025 earnings at $0.06 EPS, FY2025 earnings at $0.12 EPS and FY2026 earnings at $0.61 EPS.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). The firm had revenue of $708.66 million during the quarter, compared to analysts' expectations of $716.80 million. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The business's revenue for the quarter was up 12.8% on a year-over-year basis.

Other analysts have also issued research reports about the stock. Craig Hallum cut their price objective on shares of Exact Sciences from $82.00 to $65.00 and set a "buy" rating on the stock in a research note on Wednesday. The Goldman Sachs Group lowered their price target on shares of Exact Sciences from $75.00 to $65.00 and set a "buy" rating on the stock in a report on Wednesday. Raymond James reiterated a "market perform" rating on shares of Exact Sciences in a research note on Thursday, September 26th. TD Cowen lowered their target price on Exact Sciences from $90.00 to $82.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, Robert W. Baird reduced their price target on Exact Sciences from $70.00 to $67.00 and set an "outperform" rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Exact Sciences has a consensus rating of "Moderate Buy" and an average target price of $75.06.

Exact Sciences Stock Performance

NASDAQ EXAS traded down $1.75 during trading hours on Friday, reaching $51.48. The stock had a trading volume of 4,687,814 shares, compared to its average volume of 2,614,300. Exact Sciences has a 52-week low of $40.62 and a 52-week high of $79.62. The stock has a fifty day moving average of $66.96 and a 200 day moving average of $56.63. 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 stock has a market cap of $9.51 billion, a P/E ratio of -55.45 and a beta of 1.27.

Insider Activity at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 12,758 shares of the company's stock, valued at approximately $893,060. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.36% of the stock is owned by corporate insiders.

Institutional Trading of Exact Sciences

A number of hedge funds and other institutional investors have recently modified their holdings of EXAS. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Exact Sciences by 16.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,196 shares of the medical research company's stock worth $6,160,000 after buying an additional 12,349 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Exact Sciences by 5.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 207,364 shares of the medical research company's stock worth $14,361,000 after acquiring an additional 10,356 shares during the last quarter. Profund Advisors LLC raised its position in Exact Sciences by 239.8% in the second quarter. Profund Advisors LLC now owns 78,589 shares of the medical research company's stock valued at $3,320,000 after purchasing an additional 55,459 shares during the period. William Blair Investment Management LLC acquired a new position in shares of Exact Sciences in the 2nd quarter valued at $163,896,000. Finally, Swedbank AB purchased a new position in shares of Exact Sciences during the 1st quarter worth $2,719,000. 88.82% of the stock is owned by institutional investors and hedge funds.

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.