BTIG Research Forecasts Strong Price Appreciation for Exact Sciences (NASDAQ:EXAS) Stock

Exact Sciences (NASDAQ:EXAS) had its price objective upped by stock analysts at BTIG Research from $65.00 to $75.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. BTIG Research’s target price indicates a potential upside of 21.58% from the stock’s current price.

EXAS has been the topic of several other reports. Piper Sandler dropped their price target on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Evercore ISI dropped their target price on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. TD Cowen dropped their target price on Exact Sciences from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Jefferies Financial Group boosted their target price on Exact Sciences from $84.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Raymond James reissued a “market perform” rating on shares of Exact Sciences in a report on Thursday, September 26th. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Exact Sciences presently has an average rating of “Moderate Buy” and a consensus price target of $75.29.

Exact Sciences Price Performance

Shares of EXAS stock opened at $61.69 on Tuesday. The firm has a market cap of $11.42 billion, a P/E ratio of -51.73 and a beta of 1.27. Exact Sciences has a fifty-two week low of $40.62 and a fifty-two week high of $79.62. The business’s 50 day moving average price is $64.35 and its 200-day moving average price is $55.89. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The business had revenue of $708.66 million during the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The company’s quarterly revenue was up 12.8% on a year-over-year basis. On average, equities research analysts anticipate that Exact Sciences will post -1.13 earnings per share for the current year.

Insider Transactions at Exact Sciences

In other news, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the completion of the transaction, the executive vice president now owns 12,758 shares in the company, valued at approximately $893,060. The trade was a 6.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kevin T. Conroy bought 19,500 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was bought at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the acquisition, the chief executive officer now owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. This trade represents a 1.85 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.36% of the company’s stock.

Institutional Investors Weigh In On Exact Sciences

A number of institutional investors and hedge funds have recently modified their holdings of the business. Synovus Financial Corp bought a new stake in shares of Exact Sciences during the 3rd quarter worth approximately $490,000. Tidal Investments LLC lifted its stake in shares of Exact Sciences by 172.2% during the 3rd quarter. Tidal Investments LLC now owns 34,275 shares of the medical research company’s stock worth $2,335,000 after acquiring an additional 21,683 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Exact Sciences by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,105,970 shares of the medical research company’s stock worth $211,104,000 after acquiring an additional 7,873 shares during the last quarter. M&T Bank Corp lifted its stake in shares of Exact Sciences by 43.5% during the 3rd quarter. M&T Bank Corp now owns 9,256 shares of the medical research company’s stock worth $630,000 after acquiring an additional 2,806 shares during the last quarter. Finally, Groupama Asset Managment bought a new stake in shares of Exact Sciences during the 3rd quarter worth approximately $821,000. 88.82% of the stock is owned by institutional investors.

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.