Exact Sciences Co. (NASDAQ:EXAS) Receives Average Rating of “Moderate Buy” from Brokerages

Exact Sciences Co. (NASDAQ:EXAS) has been given an average rating of “Moderate Buy” by the fifteen research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $78.38.

Several research firms have recently weighed in on EXAS. Raymond James reissued a “market perform” rating on shares of Exact Sciences in a research report on Thursday, September 26th. Canaccord Genuity Group reissued a “buy” rating and issued a $75.00 target price on shares of Exact Sciences in a research report on Friday, September 13th. Scotiabank began coverage on shares of Exact Sciences in a research report on Thursday, June 27th. They issued a “sector outperform” rating and a $70.00 target price for the company. Evercore ISI lifted their price target on shares of Exact Sciences from $72.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, Piper Sandler lifted their price target on shares of Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, September 12th.

Exact Sciences Stock Performance

Exact Sciences stock opened at $70.26 on Friday. The firm’s fifty day moving average price is $65.56 and its 200 day moving average price is $56.72. The company has a market capitalization of $12.97 billion, a price-to-earnings ratio of -53.23 and a beta of 1.27. Exact Sciences has a 12-month low of $40.62 and a 12-month high of $79.62. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.17 and a quick ratio of 1.98.

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

Insider Buying and Selling at Exact Sciences

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the transaction, the executive vice president now directly owns 12,758 shares of the company’s stock, valued at $893,060. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.36% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Exact Sciences in the 2nd quarter worth approximately $29,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Exact Sciences by 65.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock worth $31,000 after acquiring an additional 179 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Exact Sciences in the 3rd quarter worth approximately $47,000. EverSource Wealth Advisors LLC lifted its stake in shares of Exact Sciences by 92.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock worth $49,000 after acquiring an additional 340 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Exact Sciences in the 3rd quarter worth approximately $49,000. 88.82% of the stock is owned by institutional investors and hedge funds.

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.