Exact Sciences (NASDAQ:EXAS) Price Target Raised to $75.00

Exact Sciences (NASDAQ:EXAS) had its price target boosted by Benchmark from $60.00 to $75.00 in a report issued on Tuesday morning,Benzinga reports. Benchmark currently has a buy rating on the medical research company’s stock.

A number of other equities research analysts have also issued reports on EXAS. Cowen reaffirmed a “buy” rating on shares of Exact Sciences in a research note on Thursday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Exact Sciences in a research note on Wednesday, October 8th. Wells Fargo & Company set a $68.00 price objective on Exact Sciences in a research report on Wednesday, October 1st. Guggenheim upped their target price on shares of Exact Sciences from $70.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Piper Sandler lifted their price target on shares of Exact Sciences from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $73.44.

Exact Sciences Stock Performance

Shares of EXAS stock opened at $67.22 on Tuesday. Exact Sciences has a 1 year low of $38.81 and a 1 year high of $72.81. The stock has a market cap of $12.73 billion, a PE ratio of -12.38, a P/E/G ratio of 5.56 and a beta of 1.34. The stock has a fifty day moving average price of $57.71 and a 200 day moving average price of $53.24. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.56 and a current ratio of 2.89.

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

Insiders Place Their Bets

In other news, Director James Edward Doyle sold 2,000 shares of the business’s stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $60.00, for a total transaction of $120,000.00. Following the completion of the sale, the director owned 57,962 shares in the company, valued at approximately $3,477,720. The trade was a 3.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brian Baranick sold 2,858 shares of Exact Sciences stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $70.08, for a total transaction of $200,288.64. Following the transaction, the executive vice president directly owned 22,368 shares in the company, valued at approximately $1,567,549.44. This trade represents a 11.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 6,343 shares of company stock worth $382,688 in the last quarter. 1.20% of the stock is owned by insiders.

Institutional Trading of Exact Sciences

A number of institutional investors have recently added to or reduced their stakes in EXAS. Larson Financial Group LLC lifted its holdings in shares of Exact Sciences by 2,804.8% in the 1st quarter. Larson Financial Group LLC now owns 610 shares of the medical research company’s stock worth $26,000 after purchasing an additional 589 shares during the last quarter. National Pension Service boosted its holdings in shares of Exact Sciences by 75.1% during the first quarter. National Pension Service now owns 681 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 292 shares during the period. SVB Wealth LLC bought a new position in shares of Exact Sciences during the first quarter worth about $30,000. True Wealth Design LLC increased its holdings in shares of Exact Sciences by 951.8% in the 2nd quarter. True Wealth Design LLC now owns 589 shares of the medical research company’s stock worth $31,000 after acquiring an additional 533 shares during the period. Finally, Westside Investment Management Inc. boosted its stake 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 valued at $31,000 after purchasing an additional 271 shares during the period. 88.82% of the stock is owned by hedge funds and other institutional investors.

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.