Evercore ISI Boosts Exact Sciences (NASDAQ:EXAS) Price Target to $80.00

Exact Sciences (NASDAQ:EXAS) had its price target raised by stock analysts at Evercore ISI from $72.00 to $80.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the medical research company’s stock. Evercore ISI’s price target would suggest a potential upside of 18.73% from the company’s current price.

A number of other analysts have also recently issued reports on EXAS. Wells Fargo & Company assumed coverage on Exact Sciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price objective on the stock. The Goldman Sachs Group lowered their price objective on Exact Sciences from $88.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. BTIG Research decreased their price target on Exact Sciences from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Raymond James reaffirmed a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. Finally, Stifel Nicolaus decreased their price target on Exact Sciences from $100.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $78.38.

Exact Sciences Stock Performance

NASDAQ EXAS traded down $0.74 during trading on Tuesday, hitting $67.38. The company’s stock had a trading volume of 785,401 shares, compared to its average volume of 2,647,353. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73. The firm has a 50 day moving average price of $59.72 and a 200 day moving average price of $56.16. The firm has a market cap of $12.43 billion, a P/E ratio of -51.42 and a beta of 1.26. Exact Sciences has a 52 week low of $40.62 and a 52 week high of $79.62.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.28. The business had revenue of $699.26 million for the quarter, compared to analysts’ expectations of $690.02 million. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. Exact Sciences’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.45) earnings per share. Equities research analysts forecast that Exact Sciences will post -0.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the transaction, the executive vice president now owns 13,687 shares of the company’s stock, valued at $958,090. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.36% of the company’s stock.

Hedge Funds Weigh In On Exact Sciences

Large investors have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Exact Sciences by 16.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,196 shares of the medical research company’s stock valued at $6,160,000 after purchasing an additional 12,349 shares during the last quarter. Thompson Investment Management Inc. increased its holdings in Exact Sciences by 13.1% in the first quarter. Thompson Investment Management Inc. now owns 160,584 shares of the medical research company’s stock valued at $11,090,000 after purchasing an additional 18,595 shares during the last quarter. Vanguard Group Inc. increased its holdings in Exact Sciences by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 17,559,751 shares of the medical research company’s stock valued at $1,299,070,000 after purchasing an additional 115,058 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in Exact Sciences by 4.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 22,687 shares of the medical research company’s stock valued at $1,678,000 after purchasing an additional 1,020 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in Exact Sciences by 5.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 207,364 shares of the medical research company’s stock valued at $14,361,000 after purchasing an additional 10,356 shares during the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Company Profile

Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX Breast Recurrence Score Test; Oncotype DX Breast DCIS Score Test; Oncotype DX Colon Recurrence Score Test; OncoExTra Test for tumor profiling for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer; and Covid-19 testing services.