William Blair Investment Management LLC Has $193.55 Million Stake in Exact Sciences Co. (NASDAQ:EXAS)

William Blair Investment Management LLC lessened its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS) by 19.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,444,511 shares of the medical research company’s stock after selling 840,442 shares during the period. William Blair Investment Management LLC’s holdings in Exact Sciences were worth $193,547,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in EXAS. Perigon Wealth Management LLC boosted its holdings in Exact Sciences by 3.2% during the fourth quarter. Perigon Wealth Management LLC now owns 8,436 shares of the medical research company’s stock worth $474,000 after buying an additional 264 shares during the last quarter. Sanctuary Advisors LLC raised its position in Exact Sciences by 2.0% in the 4th quarter. Sanctuary Advisors LLC now owns 13,625 shares of the medical research company’s stock valued at $763,000 after buying an additional 269 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Exact Sciences by 2.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 14,447 shares of the medical research company’s stock valued at $812,000 after buying an additional 300 shares during the last quarter. Huntington National Bank raised its position in 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 last quarter. Finally, CIBC Asset Management Inc grew its stake in Exact Sciences by 6.1% in the third quarter. CIBC Asset Management Inc now owns 6,489 shares of the medical research company’s stock valued at $442,000 after purchasing an additional 371 shares in the last quarter. Institutional investors own 88.82% of the company’s stock.

Analyst Upgrades and Downgrades

EXAS has been the subject of several research analyst reports. Piper Sandler reduced their target price on Exact Sciences from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Scotiabank lifted their price objective on shares of Exact Sciences from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 24th. Bank of America decreased their price target on shares of Exact Sciences from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. William Blair reissued an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 20th. Finally, BTIG Research upped their price objective on shares of Exact Sciences from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.83.

Exact Sciences Trading Up 4.6 %

Exact Sciences stock opened at $45.00 on Monday. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. Exact Sciences Co. has a 12-month low of $40.62 and a 12-month high of $79.62. The firm has a 50 day moving average of $51.73 and a 200 day moving average of $58.82. The firm has a market capitalization of $8.36 billion, a price-to-earnings ratio of -8.08 and a beta of 1.25.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.23. The business had revenue of $713.42 million during the quarter, compared to analyst estimates of $701.45 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. As a group, research analysts predict that Exact Sciences Co. will post -0.58 earnings per share for the current year.

Exact Sciences 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.