Friedenthal Financial Acquires New Shares in Exact Sciences Co. (NASDAQ:EXAS)

Friedenthal Financial acquired a new position in shares of Exact Sciences Co. (NASDAQ:EXAS) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,770 shares of the medical research company’s stock, valued at approximately $802,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in Exact Sciences by 61.0% in the 3rd quarter. Blue Trust Inc. now owns 5,220 shares of the medical research company’s stock worth $356,000 after purchasing an additional 1,978 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Exact Sciences in the third quarter valued at approximately $47,000. Leverty Financial Group LLC bought a new position in Exact Sciences in the 3rd quarter valued at approximately $272,000. CFM Wealth Partners LLC acquired a new stake in Exact Sciences during the 3rd quarter worth approximately $280,000. Finally, Creative Planning grew its holdings in Exact Sciences by 14.8% during the 3rd quarter. Creative Planning now owns 38,060 shares of the medical research company’s stock worth $2,593,000 after acquiring an additional 4,906 shares during the last quarter. Institutional investors own 88.82% of the company’s stock.

Insider Activity

In related news, EVP Brian Baranick sold 929 shares of the stock in a transaction on 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 sale, the executive vice president now directly owns 12,758 shares of the company’s stock, valued at approximately $893,060. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group cut their price target on shares of Exact Sciences from $88.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Scotiabank began coverage on Exact Sciences in a report on Thursday, June 27th. They set a “sector outperform” rating and a $70.00 target price on the stock. Evercore ISI lifted their price objective on Exact Sciences from $72.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Stifel Nicolaus decreased their target price on shares of Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Finally, Raymond James restated a “market perform” rating on shares of Exact Sciences in a research report on Thursday, September 26th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Exact Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $78.38.

Exact Sciences Stock Up 3.9 %

Shares of NASDAQ:EXAS opened at $71.93 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.98 and a current ratio of 2.17. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $79.62. The business’s 50 day simple moving average is $64.58 and its two-hundred day simple moving average is $56.76. The firm has a market cap of $13.27 billion, a P/E ratio of -54.49 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Wednesday, July 31st. The medical research company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.28. The business had revenue of $699.26 million during the quarter, compared to analyst estimates of $690.02 million. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. Exact Sciences’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.45) EPS. As a group, research analysts forecast that Exact Sciences Co. will post -0.87 EPS for the current fiscal year.

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.