Exact Sciences FY2024 EPS Forecast Reduced by William Blair

Exact Sciences Co. (NASDAQ:EXAS) – Stock analysts at William Blair dropped their FY2024 earnings per share (EPS) 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 prior 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.

Several other research analysts also recently issued reports on the company. Piper Sandler cut their price target on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Stifel Nicolaus dropped their price objective 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 dropped 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. BTIG Research lifted their price objective on Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, The Goldman Sachs Group dropped their price objective on Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $75.29.

Exact Sciences Trading Up 9.0 %

NASDAQ:EXAS opened at $60.10 on Monday. The company has a market capitalization of $11.12 billion, a PE ratio of -51.37 and a beta of 1.27. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72. Exact Sciences has a 52-week low of $40.62 and a 52-week high of $79.62. The stock has a fifty day simple moving average of $64.51 and a 200-day simple moving average of $55.85.

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

Hedge Funds Weigh In On Exact Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of EXAS. UniSuper Management Pty Ltd lifted its position in Exact Sciences by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,600 shares of the medical research company’s stock worth $180,000 after acquiring an additional 1,300 shares in the last quarter. BOKF NA lifted its position in Exact Sciences by 28.2% during the 1st quarter. BOKF NA now owns 22,338 shares of the medical research company’s stock worth $1,573,000 after acquiring an additional 4,909 shares in the last quarter. Bayesian Capital Management LP lifted its position in Exact Sciences by 9.0% during the 1st quarter. Bayesian Capital Management LP now owns 23,120 shares of the medical research company’s stock worth $1,597,000 after acquiring an additional 1,900 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its position in Exact Sciences by 15.9% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,829 shares of the medical research company’s stock worth $261,000 after acquiring an additional 525 shares in the last quarter. Finally, Motley Fool Asset Management LLC raised its position in shares of Exact Sciences by 285.5% in the 1st quarter. Motley Fool Asset Management LLC now owns 11,300 shares of the medical research company’s stock valued at $780,000 after purchasing an additional 8,369 shares in the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value 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. The trade was a 6.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Kevin T. Conroy acquired 19,500 shares of Exact Sciences stock in a transaction dated 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 purchase, the chief executive officer now directly owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. This 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.

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.