Exact Sciences (NASDAQ:EXAS) Given New $80.00 Price Target at Piper Sandler

Exact Sciences (NASDAQ:EXAS) had its target price upped by equities research analysts at Piper Sandler from $70.00 to $80.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the medical research company’s stock. Piper Sandler’s target price would indicate a potential upside of 19.13% from the company’s current price.

A number of other equities analysts have also weighed in on the stock. Zacks Research raised shares of Exact Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Barclays boosted their price target on Exact Sciences from $65.00 to $77.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Exact Sciences in a report on Wednesday, October 8th. Cowen reiterated a “buy” rating on shares of Exact Sciences in a research report on Tuesday, November 4th. Finally, Wells Fargo & Company lifted their price target on Exact Sciences from $68.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $74.06.

Exact Sciences Stock Performance

Shares of EXAS traded up $0.58 during mid-day trading on Tuesday, hitting $67.16. 612,973 shares of the company’s stock were exchanged, compared to its average volume of 2,740,344. The company has a current ratio of 2.89, a quick ratio of 2.56 and a debt-to-equity ratio of 0.94. Exact Sciences has a fifty-two week low of $38.81 and a fifty-two week high of $72.81. The business’s 50 day moving average is $58.47 and its two-hundred day moving average is $53.68. The firm has a market capitalization of $12.72 billion, a P/E ratio of -12.37, a P/E/G ratio of 5.56 and a beta of 1.34.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Monday, November 3rd. The medical research company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.11. The company had revenue of $850.74 million during the quarter, compared to analysts’ expectations of $810.42 million. Exact Sciences had a negative return on equity of 1.75% and a negative net margin of 34.19%.The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period last year, the firm earned ($0.21) EPS. Exact Sciences has set its FY 2025 guidance at EPS. On average, equities analysts expect that Exact Sciences will post -0.58 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director James Edward Doyle sold 2,000 shares of the company’s stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $60.00, for a total value of $120,000.00. Following the completion of the sale, the director owned 57,962 shares of the company’s stock, valued at $3,477,720. This represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Brian Baranick sold 2,858 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $70.08, for a total value of $200,288.64. Following the sale, the executive vice president owned 22,368 shares in the company, valued at approximately $1,567,549.44. The trade was a 11.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 6,343 shares of company stock worth $382,688. Insiders own 1.20% of the company’s stock.

Institutional Trading of Exact Sciences

Hedge funds have recently made changes to their positions in the company. Larson Financial Group LLC increased its stake in Exact Sciences by 2,804.8% during the 1st quarter. Larson Financial Group LLC now owns 610 shares of the medical research company’s stock worth $26,000 after buying an additional 589 shares during the period. National Pension Service boosted its stake in shares of Exact Sciences by 75.1% during the 1st quarter. National Pension Service now owns 681 shares of the medical research company’s stock valued at $29,000 after buying an additional 292 shares during the last quarter. SVB Wealth LLC bought a new stake in shares of Exact Sciences in the first quarter worth $30,000. True Wealth Design LLC boosted its stake in Exact Sciences by 951.8% during the 2nd quarter. True Wealth Design LLC now owns 589 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 533 shares during the last quarter. Finally, Westside Investment Management Inc. grew its holdings in Exact Sciences by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 542 shares of the medical research company’s stock worth $31,000 after acquiring an additional 271 shares in the last quarter. 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.