Exact Sciences (NASDAQ:EXAS) Shares Gap Up to $63.86

Exact Sciences Co. (NASDAQ:EXAS)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $63.86, but opened at $65.62. Exact Sciences shares last traded at $64.78, with a volume of 252,393 shares traded.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. William Blair restated an “outperform” rating on shares of Exact Sciences in a research note on Thursday, February 22nd. TheStreet lowered shares of Exact Sciences from a “c-” rating to a “d+” rating in a research note on Monday, February 26th. Benchmark upgraded shares of Exact Sciences from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research note on Tuesday, January 2nd. Canaccord Genuity Group cut their target price on shares of Exact Sciences from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Finally, Citigroup restated a “buy” rating and set a $100.00 target price on shares of Exact Sciences in a research note on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $97.44.

Exact Sciences Trading Up 0.4 %

The business has a fifty day moving average price of $63.41 and a 200 day moving average price of $65.10. The company has a market capitalization of $11.52 billion, a PE ratio of -55.68 and a beta of 1.25. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.07 and a current ratio of 2.32.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Wednesday, February 21st. The medical research company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.53) by $0.26. The business had revenue of $646.89 million for the quarter, compared to the consensus estimate of $638.83 million. Exact Sciences had a negative return on equity of 6.60% and a negative net margin of 8.17%. The company’s revenue was up 17.0% on a year-over-year basis. During the same period last year, the business posted ($0.72) EPS. Analysts expect that Exact Sciences Co. will post -0.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other Exact Sciences news, CEO Kevin T. Conroy sold 14,791 shares of Exact Sciences stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $61.43, for a total transaction of $908,611.13. Following the sale, the chief executive officer now directly owns 1,224,357 shares in the company, valued at approximately $75,212,250.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Kevin T. Conroy sold 14,791 shares of Exact Sciences stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $61.43, for a total value of $908,611.13. Following the completion of the transaction, the chief executive officer now owns 1,224,357 shares in the company, valued at approximately $75,212,250.51. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel James Herriott sold 421 shares of Exact Sciences stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $61.43, for a total value of $25,862.03. Following the completion of the transaction, the general counsel now owns 6,494 shares of the company’s stock, valued at approximately $398,926.42. The disclosure for this sale can be found here. Insiders have sold 69,113 shares of company stock worth $4,165,273 in the last three months. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Segall Bryant & Hamill LLC raised its stake in Exact Sciences by 4.7% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 3,315 shares of the medical research company’s stock valued at $311,000 after acquiring an additional 150 shares in the last quarter. Harbour Investments Inc. raised its stake in Exact Sciences by 0.6% during the 1st quarter. Harbour Investments Inc. now owns 26,279 shares of the medical research company’s stock valued at $1,782,000 after acquiring an additional 162 shares in the last quarter. Strategic Blueprint LLC raised its stake in Exact Sciences by 3.1% during the 3rd quarter. Strategic Blueprint LLC now owns 5,449 shares of the medical research company’s stock valued at $372,000 after acquiring an additional 163 shares in the last quarter. Asahi Life Asset Management CO. LTD. raised its stake in Exact Sciences by 4.2% during the 4th quarter. Asahi Life Asset Management CO. LTD. now owns 4,390 shares of the medical research company’s stock valued at $325,000 after acquiring an additional 175 shares in the last quarter. Finally, Valley National Advisers Inc. raised its stake in shares of Exact Sciences by 29.5% in the 3rd quarter. Valley National Advisers Inc. now owns 773 shares of the medical research company’s stock worth $53,000 after buying an additional 176 shares in the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

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.