FY2024 EPS Estimates for Exact Sciences Cut by William Blair

Exact Sciences Co. (NASDAQ:EXAS) – Analysts at William Blair cut their FY2024 earnings per share (EPS) estimates for Exact Sciences in a research note issued on Thursday, November 21st. William Blair analyst A. Brackmann now forecasts that the medical research company will post earnings of ($1.07) per share for the year, down from their prior forecast of ($0.81). William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Exact Sciences’ current full-year earnings is ($1.08) 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) 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 the consensus estimate of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The firm’s revenue was up 12.8% on a year-over-year basis.

A number of other analysts have also recently commented on EXAS. TD Cowen lowered their price objective on shares of Exact Sciences from $90.00 to $82.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Stifel Nicolaus lowered their price target on Exact Sciences from $82.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Benchmark cut their price objective on Exact Sciences from $67.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Canaccord Genuity Group decreased their price objective on Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, Sanford C. Bernstein raised their target price on shares of Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.47.

Exact Sciences Stock Down 0.3 %

Shares of NASDAQ:EXAS opened at $52.91 on Monday. The company has a 50 day moving average price of $64.79 and a two-hundred day moving average price of $55.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12. The company has a market capitalization of $9.79 billion, a PE ratio of -45.22 and a beta of 1.27. Exact Sciences has a 52 week low of $40.62 and a 52 week high of $79.62.

Institutional Investors Weigh In On Exact Sciences

Several hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in shares of Exact Sciences by 0.3% during the third quarter. Geode Capital Management LLC now owns 3,105,970 shares of the medical research company’s stock worth $211,104,000 after purchasing an additional 7,873 shares during the period. M&T Bank Corp boosted its stake in Exact Sciences by 43.5% in the 3rd quarter. M&T Bank Corp now owns 9,256 shares of the medical research company’s stock valued at $630,000 after purchasing an additional 2,806 shares during the period. Groupama Asset Managment acquired a new position in Exact Sciences in the 3rd quarter valued at $821,000. Nomura Asset Management Co. Ltd. increased its position in Exact Sciences by 12.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 51,437 shares of the medical research company’s stock worth $3,504,000 after buying an additional 5,664 shares during the period. Finally, Pier Capital LLC acquired a new stake in shares of Exact Sciences during the third quarter worth $5,520,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Exact Sciences news, CEO Kevin T. Conroy purchased 19,500 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was acquired at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the acquisition, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at $55,159,707.85. This trade represents a 1.85 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction on Wednesday, September 18th. 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 13,687 shares of the company’s stock, valued at approximately $958,090. This trade represents a 6.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by insiders.

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.