Exact Sciences (NASDAQ:EXAS) Price Target Raised to $73.00

Exact Sciences (NASDAQ:EXAS) had its price objective raised by investment analysts at Scotiabank from $70.00 to $73.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “sector outperform” rating on the medical research company’s stock. Scotiabank’s price target points to a potential upside of 48.24% from the stock’s current price.

Several other research analysts also recently weighed in on EXAS. Sanford C. Bernstein boosted their price target on Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Robert W. Baird dropped their target price on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Jefferies Financial Group increased their target price on Exact Sciences from $84.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Barclays lowered their price target on Exact Sciences from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Stifel Nicolaus cut their price objective on shares of Exact Sciences from $82.00 to $67.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.24.

Exact Sciences Stock Performance

NASDAQ EXAS opened at $49.24 on Monday. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. The business’s 50 day moving average is $54.91 and its two-hundred day moving average is $60.04. The stock has a market capitalization of $9.15 billion, a price-to-earnings ratio of -8.80 and a beta of 1.24. Exact Sciences has a 12-month low of $40.62 and a 12-month high of $79.62.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.23. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The firm had revenue of $713.42 million during the quarter, compared to analysts’ expectations of $701.45 million. Research analysts expect that Exact Sciences will post -0.58 EPS for the current year.

Hedge Funds Weigh In On Exact Sciences

A number of institutional investors have recently made changes to their positions in the business. Chicago Partners Investment Group LLC raised its holdings in Exact Sciences by 1.7% in the third quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company’s stock valued at $651,000 after acquiring an additional 158 shares in the last quarter. Perigon Wealth Management LLC lifted its position in shares of Exact Sciences by 3.2% during the fourth quarter. Perigon Wealth Management LLC now owns 8,436 shares of the medical research company’s stock worth $474,000 after purchasing an additional 264 shares during the last quarter. Sanctuary Advisors LLC grew its stake in Exact Sciences by 2.0% in the fourth quarter. Sanctuary Advisors LLC now owns 13,625 shares of the medical research company’s stock worth $763,000 after purchasing an additional 269 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Exact Sciences by 2.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 14,447 shares of the medical research company’s stock valued at $812,000 after buying an additional 300 shares during the last quarter. Finally, Huntington National Bank raised its stake in Exact Sciences by 838.1% during the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after buying an additional 352 shares in the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.

About Exact Sciences

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.