Brookstone Capital Management Boosts Stake in Exact Sciences Co. (NASDAQ:EXAS)

Brookstone Capital Management raised its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS) by 128.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,806 shares of the medical research company’s stock after buying an additional 7,201 shares during the quarter. Brookstone Capital Management’s holdings in Exact Sciences were worth $541,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EXAS. Capital World Investors boosted its holdings in shares of Exact Sciences by 74.4% in the 1st quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock worth $899,528,000 after purchasing an additional 5,557,168 shares in the last quarter. Norges Bank purchased a new position in shares of Exact Sciences in the 4th quarter worth about $120,308,000. Champlain Investment Partners LLC boosted its holdings in shares of Exact Sciences by 175.3% in the 1st quarter. Champlain Investment Partners LLC now owns 2,258,235 shares of the medical research company’s stock worth $155,954,000 after purchasing an additional 1,438,010 shares in the last quarter. Iron Triangle Partners LP purchased a new position in shares of Exact Sciences in the 1st quarter worth about $48,342,000. Finally, Jennison Associates LLC boosted its holdings in shares of Exact Sciences by 94.0% in the 4th quarter. Jennison Associates LLC now owns 1,360,917 shares of the medical research company’s stock worth $100,681,000 after purchasing an additional 659,235 shares in the last quarter. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Exact Sciences Trading Up 0.4 %

NASDAQ EXAS opened at $58.97 on Tuesday. Exact Sciences Co. has a fifty-two week low of $40.62 and a fifty-two week high of $85.71. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.45 and a current ratio of 2.17. The stock has a 50 day simple moving average of $48.06 and a two-hundred day simple moving average of $55.43. The stock has a market cap of $10.88 billion, a P/E ratio of -44.67 and a beta of 1.22.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data 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. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The business had revenue of $699.26 million during the quarter, compared to analysts’ expectations of $690.02 million. During the same quarter last year, the business posted ($0.45) EPS. The business’s revenue was up 12.4% on a year-over-year basis. On average, analysts forecast that Exact Sciences Co. will post -1.17 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on Exact Sciences in a report on Monday, June 3rd. They issued a “buy” rating and a $75.00 price objective for the company. Citigroup cut their price objective on Exact Sciences from $100.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 9th. BTIG Research dropped their target price on Exact Sciences from $80.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Canaccord Genuity Group dropped their target price on Exact Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, Benchmark dropped their target price on Exact Sciences from $91.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $78.77.

Exact Sciences 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.