Brokers Issue Forecasts for Exact Sciences Q4 Earnings

Exact Sciences Co. (NASDAQ:EXAS) – Equities researchers at Leerink Partnrs lowered their Q4 2024 earnings per share (EPS) estimates for shares of Exact Sciences in a research report issued on Wednesday, November 6th. Leerink Partnrs analyst P. Souda now expects that the medical research company will post earnings of ($0.30) per share for the quarter, down from their prior forecast 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.

Other equities analysts have also recently issued reports about the company. Robert W. Baird decreased their price target on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating on the stock in a research note on Wednesday. Piper Sandler boosted their target price on Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, September 12th. Evercore ISI reduced their target price on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday. TD Cowen reduced 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, Wells Fargo & Company started coverage on Exact Sciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $75.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $75.06.

Exact Sciences Price Performance

Shares of Exact Sciences stock opened at $51.48 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.17 and a quick ratio of 1.98. The business’s 50 day simple moving average is $66.76 and its two-hundred day simple moving average is $56.55. The stock has a market capitalization of $9.51 billion, a P/E ratio of -53.62 and a beta of 1.27. Exact Sciences has a one year low of $40.62 and a one year high of $79.62.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The company 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 firm’s quarterly revenue was up 12.8% on a year-over-year basis.

Institutional Inflows and Outflows

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

Insiders Place Their Bets

In other news, EVP Brian Baranick sold 929 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the transaction, the executive vice president now directly owns 12,758 shares of the company’s stock, valued at $893,060. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.36% 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.