Exact Sciences (EXAS) Stock Gains on Earnings Beat

NEW YORK (TheStreet) -- Shares of Exact Sciences (EXAS) were gaining 12.6% to $24.80 on heavy trading volume Monday after the medical laboratories and research company beat analysts' estimates for earnings in the first quarter.

Exact Sciences reported a loss of 40 cents a share for the first quarter, above analysts' estimates of a loss of 41 cents a share. The company reported revenue of $4.3 million for the first quarter, compared to analysts' estimates of $4.1 million.

The company said that 11,000 Cologuard tests were completed in the first quarter. The number of ordering physicians grew to 8,300 in the first quarter, up from 4,100 in the year-ago quarter.

About 2.3 million shares of Exact Sciences were traded y 11:03 a.m. Monday above the company's average trading volume of about 1.8 million shares a day.

TheStreet Ratings team rates EXACT SCIENCES CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

"We rate EXACT SCIENCES CORP (EXAS) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity and weak operating cash flow."

You can view the full analysis from the report here: EXAS Ratings Report

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