Brokerages Set Exact Sciences Co. (NASDAQ:EXAS) Price Target at $72.76

Shares of Exact Sciences Co. (NASDAQ:EXAS) have earned an average rating of “Moderate Buy” from the nineteen ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $72.76.

Several equities research analysts have recently issued reports on the stock. Citigroup lowered their target price on shares of Exact Sciences from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Sanford C. Bernstein increased their target price on shares of Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler lowered their target price 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. BTIG Research increased their target price on shares of Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Craig Hallum lowered 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 note on Wednesday, November 6th.

Insider Buying and Selling at Exact Sciences

In other news, CEO Kevin T. Conroy purchased 19,500 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was acquired at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the purchase, the chief executive officer now directly owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. This represents a 1.85 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 1.36% of the stock is owned by insiders.

Institutional Trading of Exact Sciences

Hedge funds have recently made changes to their positions in the company. Huntington National Bank grew its stake in shares of Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after buying an additional 352 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in shares of Exact Sciences in the 3rd quarter valued at approximately $34,000. Capital Performance Advisors LLP purchased a new stake in shares of Exact Sciences in the 3rd quarter valued at approximately $35,000. Asset Planning Inc purchased a new stake in shares of Exact Sciences in the 4th quarter valued at approximately $40,000. Finally, Modus Advisors LLC purchased a new stake in shares of Exact Sciences in the 4th quarter valued at approximately $43,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Price Performance

NASDAQ:EXAS opened at $54.75 on Friday. The firm’s fifty day moving average is $57.75 and its two-hundred day moving average is $60.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12. Exact Sciences has a one year low of $40.62 and a one year high of $79.62. The firm has a market cap of $10.13 billion, a price-to-earnings ratio of -46.79 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last posted its 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). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The firm had revenue of $708.66 million for 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. Research analysts expect that Exact Sciences will post -1.1 EPS for the current 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.