Stock Update (NASDAQ:EXAS): Exact Sciences Grants Inducement Restricted Stock Unit Awards to New Employees
Exact Sciences Corporation (NASDAQ:EXAS) announced that, in support of the Company’s continued growth plans, it issued restricted stock units covering a total of 55,114 shares of common stock to 54 new non-executive employees under its previously announced inducement grant program. The restricted stock unit awards vest in four equal annual installments beginning on the first anniversary of the grant date. The Company is making this announcement as required by NASDAQ rules. (Original Source)
Shares of Exact Sciences closed today at $22.92, up $0.35 or 1.55%. EXAS has a 1-year high of $29.97 and a 1-year low of $10.69. The stock’s 50-day moving average is $22.63 and its 200-day moving average is $24.76.
On the ratings front, Exact Sciences has been the subject of a number of recent research reports. In a report issued on May 5, Roth Capital analyst Chris Lewis reiterated a Buy rating on EXAS, with a price target of $28, which implies an upside of 22.4% from current levels. Separately, on the same day, JMP’s J T Haresco reiterated a Hold rating on the stock and has a price target of $31.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Chris Lewis and J T Haresco have a total average return of 1.1% and 7.6% respectively. Lewis has a success rate of 48.1% and is ranked #1926 out of 3596 analysts, while Haresco has a success rate of 53.3% and is ranked #1461.
The street is mostly Neutral on EXAS stock. Out of 7 analysts who cover the stock, 4 suggest a Hold rating and 3 recommend to Buy the stock. The 12-month average price target assigned to the stock is $26.86, which represents a potential upside of 17.4% from where the stock is currently trading.
Exact Sciences Corp is a molecular diagnostics company currently focused on the early detection and prevention of colorectal cancer. It has developed a noninvasive, patient friendly screening test called Cologuard(R).