Exact Sciences FY2024 EPS Forecast Reduced by William Blair

Exact Sciences Co. (NASDAQ:EXAS) – Investment analysts at William Blair cut their FY2024 earnings per share (EPS) estimates for shares of Exact Sciences in a report issued on Thursday, November 21st. William Blair analyst A. Brackmann now expects that the medical research company will post earnings of ($1.07) per share for the year, down from their prior estimate of ($0.81). William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Exact Sciences’ current full-year earnings is ($1.13) 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.

Other research analysts also recently issued reports about the company. TD Cowen upped their price objective on Exact Sciences from $82.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday. The Goldman Sachs Group decreased their price target on Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Piper Sandler decreased 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 cut their price objective on Exact Sciences from $82.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Robert W. Baird cut their price objective on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $75.29.

Exact Sciences Price Performance

Shares of EXAS opened at $60.10 on Monday. The company has a market cap of $11.12 billion, a P/E ratio of -51.37 and a beta of 1.27. The stock has a fifty day moving average price of $64.51 and a 200 day moving average price of $55.85. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93. Exact Sciences has a 12 month low of $40.62 and a 12 month high of $79.62.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share 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 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 company’s revenue for the quarter was up 12.8% on a year-over-year basis.

Insider Activity at Exact Sciences

In other news, CEO Kevin T. Conroy bought 19,500 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were bought at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the transaction, the chief executive officer now directly owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. This trade represents a 1.85 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brian Baranick sold 929 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 12,758 shares in the company, valued at approximately $893,060. The trade was a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Chicago Partners Investment Group LLC increased its position in Exact Sciences by 1.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company’s stock worth $651,000 after purchasing an additional 158 shares during the last quarter. Amalgamated Bank increased its position in Exact Sciences by 2.7% in the 2nd quarter. Amalgamated Bank now owns 10,937 shares of the medical research company’s stock worth $462,000 after purchasing an additional 284 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Exact Sciences by 92.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock valued at $49,000 after acquiring an additional 340 shares during the last quarter. Huntington National Bank increased its holdings in shares of Exact Sciences by 838.1% during the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 352 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of Exact Sciences by 6.2% during the 2nd quarter. CIBC Asset Management Inc now owns 6,118 shares of the medical research company’s stock valued at $258,000 after acquiring an additional 356 shares during the last quarter. 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.