Leerink Partnrs Analysts Boost Earnings Estimates for Exact Sciences Co. (NASDAQ:EXAS)

Exact Sciences Co. (NASDAQ:EXAS) – Leerink Partnrs boosted their Q3 2024 EPS estimates for shares of Exact Sciences in a report released on Wednesday, July 31st. Leerink Partnrs analyst P. Souda now expects that the medical research company will post earnings of ($0.15) per share for the quarter, up from their prior forecast of ($0.32). The consensus estimate for Exact Sciences’ current full-year earnings is ($1.17) per share. Leerink Partnrs also issued estimates for Exact Sciences’ Q4 2024 earnings at ($0.03) EPS, Q1 2025 earnings at ($0.13) EPS, Q2 2025 earnings at $0.00 EPS, Q3 2025 earnings at $0.04 EPS, Q4 2025 earnings at $0.22 EPS, FY2025 earnings at $0.13 EPS and FY2026 earnings at $0.94 EPS.

Other equities analysts have also recently issued research reports about the stock. The Goldman Sachs Group lowered their target price on shares of Exact Sciences from $88.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. BTIG Research dropped their target price on Exact Sciences from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Canaccord Genuity Group decreased their target price on Exact Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Scotiabank started coverage on shares of Exact Sciences in a report on Thursday, June 27th. They set a “sector outperform” rating and a $70.00 target price for the company. Finally, Jefferies Financial Group initiated coverage on Exact Sciences in a report on Monday, June 3rd. They issued a “buy” rating and a $75.00 price target on the stock. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $78.77.

Exact Sciences Price Performance

Shares of EXAS opened at $55.96 on Monday. Exact Sciences has a one year low of $40.62 and a one year high of $87.11. The stock’s fifty day moving average is $45.67 and its 200-day moving average is $55.90. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.45 and a current ratio of 2.17. The firm has a market capitalization of $10.34 billion, a price-to-earnings ratio of -42.39 and a beta of 1.22.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.28. The business had revenue of $699.26 million during the quarter, compared to analyst estimates of $690.02 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 12.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.45) EPS.

Hedge Funds Weigh In On Exact Sciences

A number of large investors have recently made changes to their positions in EXAS. Asahi Life Asset Management CO. LTD. increased its stake in shares of Exact Sciences by 4.2% during the 4th quarter. Asahi Life Asset Management CO. LTD. now owns 4,390 shares of the medical research company’s stock worth $325,000 after purchasing an additional 175 shares during the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Exact Sciences by 2.1% during the 1st quarter. Perigon Wealth Management LLC now owns 8,516 shares of the medical research company’s stock valued at $588,000 after acquiring an additional 175 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Exact Sciences by 65.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 179 shares in the last quarter. National Bank of Canada FI lifted its holdings in Exact Sciences by 30.9% in the 4th quarter. National Bank of Canada FI now owns 848 shares of the medical research company’s stock worth $63,000 after purchasing an additional 200 shares during the last quarter. Finally, Sanders Morris Harris LLC boosted its position in Exact Sciences by 4.2% during the first quarter. Sanders Morris Harris LLC now owns 5,000 shares of the medical research company’s stock worth $345,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds 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.