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

Exact Sciences Co. (NASDAQ:EXAS) has been assigned an average recommendation of “Moderate Buy” from the twenty-two brokerages that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $70.90.

A number of equities research analysts have commented on EXAS shares. Bank of America reduced their price target on shares of Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Piper Sandler dropped their price target on shares of Exact Sciences from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Exact Sciences in a research report on Friday, April 11th. 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 report on Monday, February 24th. Finally, Royal Bank of Canada boosted their price target on shares of Exact Sciences from $52.00 to $54.00 and gave the company a “sector perform” rating in a research report on Friday, May 2nd.

Exact Sciences Stock Down 0.9%

Exact Sciences stock opened at $53.52 on Friday. The company’s 50-day moving average price is $50.99 and its two-hundred day moving average price is $52.17. Exact Sciences has a twelve month low of $39.97 and a twelve month high of $72.83. The stock has a market cap of $10.10 billion, a P/E ratio of -9.61 and a beta of 0.98. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.16. The business had revenue of $706.79 million during the quarter, compared to the consensus estimate of $688.58 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The firm’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.60) EPS. As a group, analysts expect that Exact Sciences will post -0.58 EPS for the current year.

Institutional Trading of Exact Sciences

Large investors have recently bought and sold shares of the business. abrdn plc lifted its holdings in Exact Sciences by 843.0% during the 4th quarter. abrdn plc now owns 61,641 shares of the medical research company’s stock worth $3,464,000 after buying an additional 55,104 shares in the last quarter. Stratos Wealth Partners LTD. purchased a new position in Exact Sciences during the 4th quarter worth $223,000. Thompson Investment Management Inc. grew its position in Exact Sciences by 17.8% during the 4th quarter. Thompson Investment Management Inc. now owns 241,774 shares of the medical research company’s stock worth $13,585,000 after purchasing an additional 36,505 shares during the last quarter. Kestra Private Wealth Services LLC grew its position in Exact Sciences by 22.9% during the 4th quarter. Kestra Private Wealth Services LLC now owns 8,387 shares of the medical research company’s stock worth $471,000 after purchasing an additional 1,564 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Exact Sciences in the fourth quarter valued at about $478,000. Hedge funds and other institutional investors 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.