Exact Sciences’ (EXAS) “Buy” Rating Reaffirmed at Benchmark

Exact Sciences (NASDAQ:EXAS)‘s stock had its “buy” rating restated by analysts at Benchmark in a research note issued on Monday,Benzinga reports. They currently have a $65.00 price target on the medical research company’s stock. Benchmark’s price target would suggest a potential upside of 19.93% from the stock’s previous close.

A number of other research analysts have also weighed in on the company. Sanford C. Bernstein boosted their target price on Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Evercore ISI reduced their target price on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Citigroup lowered their price target 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. Jefferies Financial Group boosted their price objective on shares of Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Craig Hallum decreased their target price on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.94.

Exact Sciences Stock Down 7.4 %

EXAS stock opened at $54.20 on Monday. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $10.03 billion, a PE ratio of -46.32 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 business’s 50 day simple moving average is $57.57 and its 200 day simple moving average is $58.98.

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

Insider Transactions at Exact Sciences

In other Exact Sciences news, CEO Kevin T. Conroy purchased 19,500 shares of the stock in a transaction dated Wednesday, November 13th. The stock was bought 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 owns 1,074,191 shares of the company’s stock, valued at approximately $55,159,707.85. This represents a 1.85 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.36% of the stock is owned by insiders.

Institutional Investors Weigh In On Exact Sciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. Huntington National Bank grew its position in 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 acquiring an additional 352 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in Exact Sciences during the 3rd quarter worth $34,000. Capital Performance Advisors LLP bought a new stake in Exact Sciences during the 3rd quarter worth $35,000. Vestor Capital LLC bought a new stake in Exact Sciences during the 3rd quarter worth $46,000. Finally, V Square Quantitative Management LLC bought a new stake in Exact Sciences during the 3rd quarter worth $47,000. Institutional investors 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.