Exact Sciences Co. (NASDAQ:EXAS) Receives $72.94 Average Target Price from Analysts

Exact Sciences Co. (NASDAQ:EXAS) has earned a consensus recommendation of “Moderate Buy” from the eighteen research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $72.94.

EXAS has been the topic of several analyst reports. The Goldman Sachs Group reduced their target price on Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Wells Fargo & Company assumed 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. Jefferies Financial Group lifted their price objective on shares of Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Raymond James reissued a “market perform” rating on shares of Exact Sciences in a research report on Thursday, September 26th. Finally, William Blair reiterated an “outperform” rating on shares of Exact Sciences in a report on Thursday, November 21st.

Insider Buying and Selling

In related news, CEO Kevin T. Conroy purchased 19,500 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the acquisition, the chief executive officer now owns 1,074,191 shares of the company’s stock, valued at $55,159,707.85. The trade was a 1.85 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brian Baranick sold 929 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 12,758 shares of the company’s stock, valued at $893,060. This trade represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is owned by insiders.

Institutional Trading of Exact Sciences

A number of institutional investors have recently made changes to their positions in the business. William Blair Investment Management LLC acquired a new stake in Exact Sciences in the second quarter worth about $163,896,000. Groupama Asset Managment acquired a new stake in Exact Sciences in the 3rd quarter worth approximately $821,000. Sculptor Capital LP acquired a new stake in shares of Exact Sciences during the second quarter worth $32,819,000. Samlyn Capital LLC acquired a new position in shares of Exact Sciences in the 2nd quarter valued at $30,426,000. Finally, Armistice Capital LLC increased its holdings in shares of Exact Sciences by 91.6% in the second quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock valued at $59,154,000 after purchasing an additional 669,438 shares during the period. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Stock Performance

NASDAQ:EXAS opened at $60.75 on Friday. The stock’s 50-day moving average is $62.56 and its 200-day moving average is $56.98. The stock has a market cap of $11.24 billion, a P/E ratio of -51.92 and a beta of 1.24. Exact Sciences has a 1-year low of $40.62 and a 1-year high of $79.62. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly 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). The business had revenue of $708.66 million during the quarter, compared to analyst estimates of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. Equities research analysts anticipate that Exact Sciences will post -1.13 earnings per share for the current year.

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.