EXACT Sciences Corporation (EXAS) is Downgraded by Mizuho to Neutral, Lowers Price Target to $ 6.50

EXACT Sciences Corporation (EXAS) was Downgraded by Mizuho to ” Neutral” while Lowering the Price Target of the company shares to $ 6.50 from a previous price target of $12 . Earlier the firm had a rating of “Buy ” on the company shares. Mizuho advised their investors in a research report released on May 4, 2016.

Many Wall Street Analysts have commented on EXACT Sciences Corporation. Shares were Reiterated by The Benchmark Company on Feb 24, 2016 to “Hold” and Lowered the Price Target to $ 9 from a previous price target of $11 .

On the company’s financial health, EXACT Sciences Corporation reported $-0.49 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 3, 2016. Analyst had a consensus of $-0.52. The company had revenue of $14.80 million for the quarter, compared to analysts expectations of $14.81 million. The company’s revenue was up 244.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.40 EPS.

EXACT Sciences Corporation closed down -0.03 points or -0.43% at $6.99 with 14,26,274 shares getting traded on Monday. Post opening the session at $7.03, the shares hit an intraday low of $6.88 and an intraday high of $7.11 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Apr 4, 2016, D Scott Coward (SVP and General Counsel) sold 1,685 shares at $6.62 per share price. According to the SEC, on Mar 11, 2016, Maneesh Arora (COO) sold 4,042 shares at $6.05 per share price. On Mar 11, 2016, Graham Peter Lidgard (Chief Science Officer) sold 3,041 shares at $6.05 per share price, according to the Form-4 filing with the securities and exchange commission.

Exact Sciences Corporation is a molecular diagnostics company focused on the early detection and prevention of colorectal cancer. The Company has developed a non?invasive screening test called Cologuard for colorectal cancer. Its Cologuard test is a non?invasive stool?based deoxyribonucleic acid (DNA) (sDNA) screening test designed to detect DNA markers. In addition to DNA markers its test includes a protein marker to detect blood in the stool utilizing an antibody?based fecal immunochemical test (FIT). The Company’s Cologuard test is designed to detect pre?cancerous lesions or polyps and each of the four stages of colorectal cancer. By detecting pre?cancers and cancers early with its test affected patients can be referred to colonoscopy during which the polyps or lesions can be removed. The company’s test also detects blood in stool utilizing an antibody based FIT test.

EXACT Sciences Corporation

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