Exact Sciences (NASDAQ:EXAS) Stock Price Expected to Rise, TD Cowen Analyst Says

Exact Sciences (NASDAQ:EXAS) had its price objective raised by equities research analysts at TD Cowen from $82.00 to $86.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. TD Cowen’s target price would suggest a potential upside of 39.41% from the stock’s current price.

A number of other analysts also recently commented on EXAS. BTIG Research boosted their price objective on Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday. Wells Fargo & Company assumed coverage on shares of Exact Sciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 price target on the stock. Citigroup cut their price objective on shares of Exact Sciences from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Canaccord Genuity Group dropped their price target on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Benchmark decreased their price objective on shares of Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company 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, Exact Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $75.29.

Exact Sciences Trading Up 2.6 %

NASDAQ:EXAS opened at $61.69 on Tuesday. Exact Sciences has a 12-month low of $40.62 and a 12-month high of $79.62. The firm has a market capitalization of $11.42 billion, a P/E ratio of -51.73 and a beta of 1.27. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93. The business has a 50 day simple moving average of $64.35 and a 200 day simple moving average of $55.89.

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

Insider Transactions at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of Exact Sciences 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. This trade represents a 6.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kevin T. Conroy purchased 19,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were purchased 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 $55,159,707.85. The trade was a 1.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.36% of the stock is owned by insiders.

Institutional Investors Weigh In On Exact Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank grew its position in shares of Exact Sciences by 838.1% during the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after buying an additional 352 shares during the period. RPg Family Wealth Advisory LLC bought a new position in Exact Sciences in the third quarter valued at approximately $34,000. Capital Performance Advisors LLP bought a new stake in shares of Exact Sciences in the third quarter worth $35,000. Vestor Capital LLC bought a new stake in shares of Exact Sciences in the third quarter worth $46,000. Finally, V Square Quantitative Management LLC bought a new stake in shares of Exact Sciences in the third quarter worth $47,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

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.