81.50 +0.69 (0.85%)
After hours: 5:21PM EDT
Continuation Wedge (Bearish)
|Bid||80.81 x 900|
|Ask||82.44 x 800|
|Day's Range||80.06 - 85.11|
|52 Week Range||35.25 - 123.99|
|Beta (5Y Monthly)||1.88|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
In February, the company announced it was selling approximately $1 billion in senior convertible notes to raise money. Investors were not thrilled at the prospect of Exact Sciences taking on more debt, and this round of fundraising probably contributed to the company's stock dropping by more than 40% in the first quarter. As of this writing, the company's shares are down 6% year to date, while the S&P 500's loss stands at 12.2% over the same period.
Exact Sciences Chairman and CEO Kevin Conroy joins Yahoo Finance’s Anjalee Khemlani and Seana Smith to discuss how his company is pivoting its testing labs to help with coronavirus testing.
Shares of cancer diagnostics leader Exact Sciences (NASDAQ: EXAS) rose higher last week after delivering mixed results on its first-quarter earnings report on May 6. Revenue improved by 115% to $348 million year over year and the company posted a net loss of $105.7 million, or $0.71 per share. The company is one of the many health stocks hit hard by the market plunge in March.
Artisan Mid Cap Fund recently released its Q1 2020 Investor Letter, a copy of which you can download below. The fund posted a return of -11.55% for the quarter (investor class), outperforming their benchmark, the Russell Midcap Index which returned -27.07% in the same quarter. You should check out Artisan Mid Cap Fund’s top 5 […]
Ladies and gentlemen, thank you for standing by, and welcome to the Exact Sciences First Quarter 2020 Webcast and Conference Call. Thank you, operator, and thank all of you for joining us for Exact Sciences first quarter 2020 conference call. On the call today are Kevin Conroy, the Company's Chairman and CEO; and Jeff Elliott, our Chief Financial Officer.
Exact Sciences' (EXAS) first-quarter 2020 results reflect strong performance by Screening segment amid the coronavirus-led economic crisis.
Exact Sciences (EXAS) delivered earnings and revenue surprises of -5.26% and 0.07%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Exact Sciences (EXAS) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
It's time to shop for healthcare stocks that have suffered so far this year but should rebound in the long term thanks to growth drivers waiting in the wings. The first of these great deals, a pharmaceutical company, has a blockbuster on the market, a newer drug with growing sales, and possible drug approvals in the coming months. Jazz Pharmaceuticals (NASDAQ: JAZZ), a maker of sleep therapeutics and oncology drugs, has steadily grown annual revenue for more than a decade, announcing record annual revenue for 2019.
Exact Sciences (EXAS) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Exact Sciences (EXAS) has pre-announced first quarter results, with total revenue up 114% year-over-year at $348 million, surpassing the Street estimate of $342.6 million.The company, which focuses on the early prevention and detection of colorectal cancer, revealed that screening revenue from its key Cologuard product rose 35% from 1Q19 to $219 million. Meanwhile precision oncology revenue was up 18% to $128 million.However EXAS also revealed that Cologuard orders decreased 36% year-over-year in the last 16 days of March and 63% for first 20 days of April.“Due to social distancing, stay-at-home orders, and other actions taken in response to COVID-19, there has been a significant and widespread decline in standard wellness visits and preventive services. That decline has negatively impacted Cologuard test orders in our Screening business” EXAS explained.Encouragingly, the company added that during April it has seen ‘what appears to be a stabilization’ in the year-over-year decline of Cologuard test orders.Similarly, management noted April softness in GPS prostate cancer testing but did not provide exact figures.EXAS is taking multiple measures to deal with the fallout from Covid-19, including salary reductions, a permanent 2% workforce reduction and the furlough of functions tied to Cologuard test volumes. The company estimates that these measures will result in over $400 million of cost savings in 2020.“While we expect nearly all companies to curtail spending in 2Q20, the magnitude of EXAS’s reduction is larger than anticipated. Our revised forecast calls for net loss roughly in line with prior forecast as aggressive cost cutting should protect balance sheet” Oppenheimer analyst Kevin DeGeeter told investors following the earnings release.He slashed his price target from $130 to $115 (50% upside potential), but maintained his EXAS buy rating, writing “We expect EXAS to continue outperforming the sector as investors look for high quality stories positioned for a rebound once the US market normalizes for the impact of COVID-19.”Indeed, all 7 analysts covering EXAS stock rate it a ‘buy’ right now, giving the stock a Strong Buy analyst consensus. Meanwhile the average analyst price target of $102 indicates 33% upside potential lies ahead. (See Exact Sciences stock analysis on TipRanks).Related News: Netflix Wins 15.8 million subscribers in Q1, Sees Growth Slowing in Virus Aftermath Facebook Invests An Eye-Watering $5.7B in India’s Jio Platforms United Airlines Seeks To Raise $1B With Massive Share Sale More recent articles from Smarter Analyst: * Uber, Lyft Sued Over Allegedly Misclassifying Drivers as Contractors * Akebia Spikes 38% On Pivotal Trial Readout; And Further Upside Lies Ahead * Novavax (NVAX) Receives Bullish Praise From a Wall Street Pro * Spotify Stock at $190 a Share? This Analyst Thinks It's Possible
After her company completed a merger in November, people told Kim Popovits to take six months off before considering anything.
Madison-based biotechnology company Promega Corp. is working on producing reagent materials needed in testing for COVID-19.
Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]
Exact Sciences (EXAS) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Here's a roundup of top developments in the biotech space over the last 24 hours.Scaling The Peaks (Biotech Stocks Hitting 52-week highs on March 3) * Acceleron Pharma Inc (NASDAQ: XLRN) * BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) * Fate Therapeutics Inc (NASDAQ: FATE) (reacted to its fourth-quarter results) * Forty Seven Inc (NASDAQ: FTSV) * IGM Biosciences Inc (NASDAQ: IGMS) * Inovio Pharmaceuticals Inc (NASDAQ: INO)( announced an accelerated timeline for COVID-19 vaccine development) * Repro-Med Systems, Inc. (NASDAQ: KRMD) * SpringWorks Therapeutics Inc (NASDAQ: SWTX) * Zynex Inc. (NASDAQ: ZYXI)Down In The Dumps (Biotech Stocks Hitting 52-week lows on March 3) * ADDEX THERAPEUT/ADR (NASDAQ: ADXN) * Akorn, Inc. (NASDAQ: AKRX) * Aldeyra Therapeutics Inc (NASDAQ: ALDX) * ANI Pharmaceuticals Inc (NASDAQ: ANIP) * Evolus Inc (NASDAQ: EOLS) * EXACT Sciences Corporation (NASDAQ: EXAS) * HTG Molecular Diagnostics Inc (NASDAQ: HTGM) * Midatech Pharma PLC-ADR (NASDAQ: MTP)(began trading on a reverse split adjusted basis) * Mylan NV (NASDAQ: MYL) * Neuronetics Inc (NASDAQ: STIM)(announced its fourth-quarter results) * Passage Bio Inc (NASDAQ: PASG)(IPOed last week) * STRATA Skin Sciences Inc (NASDAQ: SSKN) * SurModics, Inc. (NASDAQ: SRDX) * Tetraphase Pharmaceuticals Inc (NASDAQ: TTPH) * TransMedics Group Inc (NASDAQ: TMDX)(reported its fourth-quarter results) * VIVUS, Inc. (NASDAQ: VVUS) * Xeris Pharmaceuticals Inc (NASDAQ: XERS)See Also: Attention Biotech Investors: Mark Your Calendar For These March PDUFA DatesStocks In Focus Takeda To Develop COVID-19 Treatments Takeda Pharmaceutical Co Ltd (NYSE: TAK) said it is initiating the development of an anti-SARS-CoV-2 polyclonal hyperimmune globulin to treat high-risk individuals with the viral infection. Hyperimmune globulins are plasma-derived therapies that had previously proven its efficacy in treating severe acute viral respiratory infections.The company added it is also studying its currently marketed and pipeline products to see whether they are effective treatments for infected patients.Separately, the company said it has completed its previously announced sale of portfolio of select products to STADA for $660 million.In pre-market trading Wednesday, Takeda shares were adding 3.94% to $18.20.Vir, Alnylam Expands Collaboration To Develop siRNA Therapies For COVID-19 Vir Biotechnology Inc (NASDAQ: VIR) and Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY) announced an expansion to their existing collaboration to include the development and commercialization of RNAi therapeutics against COVID-19. The agreement provides for Vir using Alnylam's recent advances in lung delivery of novel conjugates of siRNA along with its infectious disease expertise to develop one or some siRNAs to treat COVID-19 and other coronaviruses as well.In premarket trading Wednesday, Vir share were rallying 14.72% to $47 and Alnylam was edging up 0.41% to $111.88.Mallinckrodt Reports Positive Outcome Analysis of Acthar Gel In Immune-mediated Diseases Mallinckrodt PLC (NYSE: MNK) announced findings from a retrospective medical record analysis, which assessed practice patterns and outcomes of Acthar Gel in the treatment of immune-mediated diseases rheumatoid arthritis, systemic lupus erythematosus and dermatomyositis/polymyositis, which showed across all the three patient populations, symptoms improved with Acthar Gel.In premarket trading Wednesday, the shares were advancing 7.99% $3.38.Acadia's Rett Syndrome Investigational Drug Gets Rare Pediatric Designation ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) and Neuren Pharma said the FDA has granted Rare Pediatric Disease designation to trofinetide for the treatment of Rett syndrome, a serious and rare neurological disorder.Upon approval of a product with the designation, the sponsor is eligible to receive a Priority Review Voucher, which can be used to obtain FDA approval of an NDA for another product in an expedited period of six months.Acadia shares were up 2.41% to $42.99 in after-hours trading.Morphosys' Licensing Agreement With Incyte For Lymphoma Drug Gets Antitrust Clearance Morphosys Ag (NASDAQ: MOR) and Incyte Corporation (NASDAQ: INCY) said their joint collaboration and license agreement for further development and global commercialization of Morphosys' investigational compound tafasitamab has received antitrust clearance and becomes effective Tuesday.The regulatory milestone triggers a $750 million upfront payment by Incyte to Morphosys, and also Incyte's equity investment of $150 million into MorphoSys within the defined timelines.The PDUFA date for the BLA for tafasitamab in combination with lenalidomide for the treatment of patients with relapsed or refractory diffuse large B-cell lymphoma is Aug. 30.Ultragenyx CFO To Step Down Ultragenyx Pharmaceutical Inc (NASDAQ: RARE) said Shalini Sharp will step down as CFO and EVP, effective Sept. 2. The company said it will initiate a search for a successor.Exact Sciences Buys Two Cancer Diagnostics Companies Exact Sciences said it has completed its acquisition of Paradigm Diagnostics and Viomics, two privately held companies, which provide a differentiated late-stage therapy selection test and deep competencies in sequencing and biomarker discovery.View more earnings on TAKThe company expects the acquisition to extend its lab testing and research and development capabilities.J&J Makes Regulatory Submission For Approval of Multiple Sclerosis Drug In Europe Johnson & Johnson's (NYSE: JNJ) Janssen unit announced it submitted a Marketing Authorization Application to EMA, seeking approval for ponesimod for the treatment of adult patients with relapsing multiple sclerosis.Earnings DURECT Corporation (NASDAQ: DRRX) reported fourth-quarter net revenues of $10.69 million compared to $3.63 million last year. The net loss per share narrowed from 5 cents to 2 cents, in line with the consensus estimate.The stock jumped 12.21% to $1.93 in after-hours trading.Menlo Therapeutics Inc's (NASDAQ: MNLO), which has agreed to be bought by Foamix Pharmaceuticals Ltd (NASDAQ: FOMX), reported a wider loss of 89 cents per share compared to the year-ago loss of 76 cents per share and the consensus loss estimate of 83 cents per share.Updating on the pending merger, Menlo said it expects it to close March 9.The stock jumped 23.64% to $3.40 in after-hours trading.Voyager Therapeutics Inc (NASDAQ: VYGR) reported fourth quarter revenues of $32.67 million compared to $2.01 million a year ago. The net loss per share narrowed from 77 cents to 34 cents. Analysts had estimated a loss of 81 cents per share. The company said it expects its cash reserves as well as receivables to be sufficient to meet its projected operating expenses and capex into mid-2022.The stock gained 6.22% to $12.30 in after-hours trading.Vivus reported fourth-quarter total revenues of $17.25 million and a loss of 61 cents per share, narrower than the 68 cents per share loss expected by analysts.The stock rose 8.98% to $1.82 in after-hours trading.Offerings Zogenix, Inc. (NASDAQ: ZGNX) said it has priced its underwritten public offering of 8.52 million shares at $23.50 per share. The company expects to raise gross proceeds of $200.2 million from the offering. The offering is expected to close on or about March 6.The company said it expects to use the net proceeds for the potential commercialization of Fintepla for the treatment of Dravet syndrome, among other things.The stock fell 3.69% to $24 in after-hours trading.On The Radar Earnings * AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) (before the market open) * Recro Pharma Inc (NASDAQ: REPH) (before the market open) * PPD Inc (NASDAQ: PPD) (before the market open) * Axonics Modulation Technologies Inc (NASDAQ: AXNX) (after the close) * Orthopediatrics Corp (NASDAQ: KIDS) (after the close) * Opiant Pharmaceuticals Inc (NASDAQ: OPNT) (after the close)See more from Benzinga * The Daily Biotech Pulse: GenMark Diagnostics Ships COVID-19 Test Kits, Karyopharm To Offer Shares, And More * The Daily Biotech Pulse: Sangamo In Genome-Editing Therapy Deal With Biogen, FDA Nod For Biohaven, Passage Bio IPO(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The growth in genetic testing market can be attributed to factors like rise in incidence of genetic disorders, cancer and technological breakthroughs.