William Blair Reaffirms Outperform Rating for Exact Sciences (NASDAQ:EXAS)

William Blair reissued their outperform rating on shares of Exact Sciences (NASDAQ:EXAS) in a research note published on Thursday,RTT News reports.

Other research analysts have also recently issued research reports about the company. The Goldman Sachs Group lowered their price objective on Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Evercore ISI reduced their price target on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Raymond James reaffirmed a “market perform” rating on shares of Exact Sciences in a report on Thursday, September 26th. Sanford C. Bernstein boosted their price target on Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus decreased their target price on shares of Exact Sciences from $82.00 to $67.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.47.

Exact Sciences Stock Up 0.9 %

NASDAQ EXAS traded up $0.46 during trading hours on Thursday, hitting $53.53. 128,340 shares of the company traded hands, compared to its average volume of 2,634,350. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12. The business’s 50-day moving average is $65.04 and its 200-day moving average is $55.98. The stock has a market capitalization of $9.91 billion, a price-to-earnings ratio of -45.63 and a beta of 1.27. Exact Sciences has a twelve month low of $40.62 and a twelve month high of $79.62.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The business had revenue of $708.66 million for the quarter, compared to analyst estimates of $716.80 million. Exact Sciences’s revenue was up 12.8% compared to the same quarter last year. Sell-side analysts anticipate that Exact Sciences will post -1.08 earnings per share for the current year.

Insider Transactions at Exact Sciences

In other news, CEO Kevin T. Conroy bought 19,500 shares of the stock in a transaction dated Wednesday, November 13th. The shares were bought at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the transaction, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at $55,159,707.85. This trade represents a 1.85 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the transaction, the executive vice president now owns 12,758 shares of the company’s stock, valued at $893,060. This represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by corporate insiders.

Institutional Trading of Exact Sciences

Several institutional investors have recently made changes to their positions in the company. WCM Investment Management LLC grew its stake in Exact Sciences by 1,153.2% in the 3rd quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company’s stock valued at $12,388,000 after purchasing an additional 172,821 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in Exact Sciences by 5.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 207,364 shares of the medical research company’s stock worth $14,361,000 after buying an additional 10,356 shares during the last quarter. Simplify Asset Management Inc. raised its position in Exact Sciences by 67.5% in the third quarter. Simplify Asset Management Inc. now owns 29,277 shares of the medical research company’s stock worth $1,994,000 after acquiring an additional 11,800 shares during the period. Profund Advisors LLC boosted its stake in Exact Sciences by 239.8% in the second quarter. Profund Advisors LLC now owns 78,589 shares of the medical research company’s stock valued at $3,320,000 after acquiring an additional 55,459 shares during the last quarter. Finally, William Blair Investment Management LLC purchased a new position in Exact Sciences in the second quarter valued at about $163,896,000. 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.