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

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 Corp. (Nasdaq: EXAS) today announced that company management will participate in the following investor conference and invited investors to participate by webcast.

Surmodics (SRDX) registered growth in one of its core units, Invitro Diagnostics, in Q2.

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 […]

Despite the negative earnings trend, a handful of stocks with a favorable Zacks Rank are poised to beat earnings estimates tomorrow.

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 Corp. (Nasdaq: EXAS) today announced that company management will participate in the following conferences and invited investors to participate by webcast.

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' (EXAS) first-quarter 2020 results reflect strong performance by Screening segment amid the coronavirus-led economic crisis.

Q1 2020 Exact Sciences Corp Earnings Call

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.

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.

New research from Exact Sciences Corp. (NASDAQ: EXAS) uses real-world-adjusted adherence rates in a colorectal cancer microsimulation, the Colorectal Cancer and Adenoma Incidence and Mortality model (CRC-AIM), to reinforce the value of Cologuard (mt-sDNA) as an effective colorectal cancer screening test. Cologuard offers significant advantages over the fecal immunochemical test (FIT) and real-world adherence data further highlights those advantages. Cologuard has higher sensitivity, a longer interval, and higher observed adherence rates in real-world usage. The modeling also highlights the importance of improving access to colonoscopy following a positive Cologuard or FIT test.

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.

After her company completed a merger in November, people told Kim Popovits to take six months off before considering anything.

Exact Sciences (EXAS) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

NEW YORK, NY / ACCESSWIRE / May 6, 2020 / EXACT Sciences Corp. (NASDAQ:EXAS) will be discussing their earnings results in their 2020 First Quarter Earnings call to be held on May 6, 2020 at 5:00 PM Eastern ...

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.

Varian (VAR) continued to gain from core Oncology Systems segment in Q2.