William Blair Reduces Earnings Estimates for Exact Sciences

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 to clients and investors on Thursday, November 21st. William Blair analyst A. Brackmann now forecasts that the medical research company will earn ($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 ($1.13) 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.

EXAS has been the topic of several other reports. Craig Hallum lowered their price objective on Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. The Goldman Sachs Group cut their price objective on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Raymond James reissued a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. TD Cowen dropped their price objective on shares of Exact Sciences from $90.00 to $82.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Stifel Nicolaus cut 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. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Exact Sciences has a consensus rating of “Moderate Buy” and an average price target of $74.47.

Exact Sciences Price Performance

EXAS opened at $55.14 on Monday. Exact Sciences has a 1 year low of $40.62 and a 1 year high of $79.62. The stock has a 50-day moving average price of $64.51 and a 200-day moving average price of $55.85. The firm has a market cap of $10.21 billion, a PE ratio of -47.13 and a beta of 1.27. 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 (NASDAQ:EXAS) last issued 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). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The business had revenue of $708.66 million during the quarter, compared to the consensus estimate of $716.80 million. The company’s revenue for the quarter was up 12.8% on a year-over-year basis.

Insider Transactions at Exact Sciences

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the sale, the executive vice president now directly owns 12,758 shares of the company’s stock, valued at approximately $893,060. This represents a 6.79 % decrease in their position. The sale 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 the firm’s stock in a transaction dated Wednesday, November 13th. The shares were purchased at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the transaction, the chief executive officer now owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. The trade was a 1.85 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.36% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of EXAS. Huntington National Bank grew its stake in Exact Sciences by 838.1% during the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after buying an additional 352 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in Exact Sciences during the 3rd quarter worth $34,000. Capital Performance Advisors LLP purchased a new position in Exact Sciences during the third quarter worth about $35,000. Vestor Capital LLC purchased a new stake in shares of Exact Sciences in the third quarter valued at approximately $46,000. Finally, V Square Quantitative Management LLC acquired a new position in Exact Sciences during the third quarter worth about $47,000. 88.82% of the stock is owned by hedge funds and other institutional investors.

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.