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

Exact Sciences Co. (NASDAQ:EXAS) has received an average rating of “Moderate Buy” from the eighteen research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $72.94.

EXAS has been the topic of a number of research analyst reports. Sanford C. Bernstein boosted their price objective on shares of Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler dropped their price target on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Raymond James restated a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. Canaccord Genuity Group cut their price target on Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Finally, Evercore ISI lowered their price target on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th.

Insider Buying and Selling

In other Exact Sciences news, CEO Kevin T. Conroy bought 19,500 shares of the stock in a transaction on Wednesday, November 13th. The shares were purchased at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the acquisition, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at $55,159,707.85. This represents a 1.85 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.36% of the company’s stock.

Institutional Investors Weigh In On Exact Sciences

Several hedge funds have recently modified their holdings of EXAS. Huntington National Bank increased its position in Exact Sciences by 838.1% during the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after acquiring an additional 352 shares during the period. Itau Unibanco Holding S.A. bought a new position in shares of Exact Sciences during the 2nd quarter worth about $29,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Exact Sciences during the third quarter valued at about $34,000. Capital Performance Advisors LLP bought a new stake in shares of Exact Sciences in the third quarter valued at about $35,000. Finally, Modus Advisors LLC acquired a new stake in Exact Sciences during the fourth quarter worth about $43,000. 88.82% of the stock is owned by institutional investors.

Exact Sciences Price Performance

EXAS opened at $57.10 on Wednesday. The firm has a market capitalization of $10.57 billion, a P/E ratio of -48.80 and a beta of 1.24. The stock has a fifty day moving average of $58.61 and a 200-day moving average of $58.59. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72. 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 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 return on equity of 6.17% and a negative net margin of 7.95%. The business had revenue of $708.66 million during the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences’s quarterly revenue was up 12.8% on a year-over-year basis. Equities analysts forecast that Exact Sciences will post -1.13 EPS for the current fiscal year.

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.