Exact Sciences Co. (NASDAQ:EXAS) Given Average Rating of “Moderate Buy” by Analysts

Exact Sciences Co. (NASDAQ:EXAS) has been assigned an average rating of “Moderate Buy” from the nineteen analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $74.47.

Several equities analysts have commented on EXAS shares. Evercore ISI lowered their target price on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Craig Hallum lowered their price objective on Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Robert W. Baird reduced their target price on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Wells Fargo & Company began coverage on Exact Sciences in a report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price target on the stock. Finally, The Goldman Sachs Group reduced their price objective on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th.

Exact Sciences Trading Down 0.3 %

Shares of NASDAQ:EXAS opened at $52.91 on Tuesday. The stock has a market capitalization of $9.79 billion, a price-to-earnings ratio of -45.22 and a beta of 1.27. Exact Sciences has a 1-year low of $40.62 and a 1-year high of $79.62. The company has a 50 day moving average price of $64.79 and a 200 day moving average price of $55.87. 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 announced its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.01). Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The firm had revenue of $708.66 million for the quarter, compared to analyst estimates of $716.80 million. Exact Sciences’s quarterly revenue was up 12.8% on a year-over-year basis. On average, research analysts anticipate that Exact Sciences will post -1.08 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Exact Sciences

A number of hedge funds have recently added to or reduced their stakes in the stock. Huntington National Bank boosted its position in Exact Sciences by 838.1% in the 3rd 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 during the last quarter. RPg Family Wealth Advisory LLC bought a new position in Exact Sciences in the third quarter valued at about $34,000. Capital Performance Advisors LLP acquired a new stake in Exact Sciences in the third quarter worth about $35,000. Vestor Capital LLC bought a new stake in Exact Sciences during the 3rd quarter worth about $46,000. Finally, V Square Quantitative Management LLC acquired a new position in Exact Sciences during the 3rd quarter valued at about $47,000. Institutional investors 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.