Exact Sciences’ (EXAS) Outperform Rating Reaffirmed at William Blair

Exact Sciences (NASDAQ:EXAS)‘s stock had its “outperform” rating reaffirmed by analysts at William Blair in a research note issued on Monday,RTT News reports.

Other research analysts have also recently issued research reports about the company. Robert W. Baird dropped their price target on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Stifel Nicolaus dropped their target price on shares of Exact Sciences from $82.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. TD Cowen upped their price target on shares of Exact Sciences from $82.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Raymond James reissued a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. Finally, Citigroup reduced their target price on Exact Sciences from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.94.

Exact Sciences Stock Down 7.4 %

Shares of NASDAQ EXAS opened at $54.20 on Monday. The stock has a market capitalization of $10.03 billion, a price-to-earnings ratio of -46.32 and a beta of 1.24. Exact Sciences has a 52 week low of $40.62 and a 52 week high of $79.62. The firm has a 50-day moving average price of $57.57 and a 200 day moving average price of $58.98. 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 (NASDAQ:EXAS) last posted its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $708.66 million for the quarter, compared to analyst estimates of $716.80 million. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. Equities research analysts anticipate that Exact Sciences will post -1.13 EPS for the current fiscal year.

Insider Transactions at Exact Sciences

In related news, CEO Kevin T. Conroy bought 19,500 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the acquisition, the chief executive officer now owns 1,074,191 shares in the company, valued at $55,159,707.85. This trade represents a 1.85 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.36% of the company’s stock.

Hedge Funds Weigh In On Exact Sciences

A number of hedge funds have recently made changes to their positions in EXAS. Geode Capital Management LLC increased its holdings in shares of Exact Sciences by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,105,970 shares of the medical research company’s stock worth $211,104,000 after buying an additional 7,873 shares during the last quarter. Champlain Investment Partners LLC grew its position in Exact Sciences by 10.9% during the third quarter. Champlain Investment Partners LLC now owns 2,494,480 shares of the medical research company’s stock valued at $169,924,000 after acquiring an additional 245,980 shares during the period. Bellevue Group AG increased its stake in Exact Sciences by 25.1% during the third quarter. Bellevue Group AG now owns 1,449,465 shares of the medical research company’s stock worth $98,738,000 after acquiring an additional 290,585 shares during the last quarter. Armistice Capital LLC raised its holdings in shares of Exact Sciences by 91.6% in the 2nd quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock worth $59,154,000 after purchasing an additional 669,438 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Exact Sciences by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,292,090 shares of the medical research company’s stock worth $88,017,000 after purchasing an additional 45,015 shares during the period. Institutional investors and hedge funds 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.