EXACT Sciences Corporation (EXAS) reported quarterly earnings results on Tuesday, Jul-26-2016. The company said it had a profit of $-0.46 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.09. Analysts had a consensus of $-0.55. The company posted revenue of $21.20 million in the period, compared to analysts expectations of $18.50 million. The company’s revenue was up 161.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.44 EPS.
Many Wall Street Analysts have commented on EXACT Sciences Corporation. Craig Hallum Upgraded EXACT Sciences Corporation on Jun 16, 2016 to ” Buy”, Price Target of the shares are set at $18.Shares were Downgraded by Mizuho on May 4, 2016 to ” Neutral” and Lowered the Price Target to $ 6.50 from a previous price target of $12 .
EXACT Sciences Corporation closed down -0.12 points or -0.94% at $12.61 with 35,50,504 shares getting traded on Wednesday. Post opening the session at $12.75, the shares hit an intraday low of $12.47 and an intraday high of $13.07 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Jul 5, 2016, D Scott Coward (SVP and General Counsel) sold 1,644 shares at $12.28 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.