Exact Sciences Co. (NASDAQ:EXAS) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Exact Sciences Co. (NASDAQ:EXAS) have been given an average recommendation of “Moderate Buy” by the eighteen research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $72.94.

A number of research firms have recently issued reports on EXAS. Wells Fargo & Company assumed coverage on shares of Exact Sciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price objective on the stock. Bank of America cut their price target on Exact Sciences from $75.00 to $72.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Citigroup decreased their price objective on Exact Sciences from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Jefferies Financial Group lifted their target price on Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Robert W. Baird decreased their price target on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th.

Insiders Place Their Bets

In other Exact Sciences news, CEO Kevin T. Conroy acquired 19,500 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were purchased at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the purchase, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at $55,159,707.85. The trade was a 1.85 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction on 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 insiders.

Hedge Funds Weigh In On Exact Sciences

Institutional investors have recently modified their holdings of the stock. WCM Investment Management LLC grew its stake in shares of Exact Sciences by 1,153.2% during the 3rd quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company’s stock worth $12,388,000 after purchasing an additional 172,821 shares during the period. Simplify Asset Management Inc. boosted its holdings in Exact Sciences by 67.5% during the third quarter. Simplify Asset Management Inc. now owns 29,277 shares of the medical research company’s stock worth $1,994,000 after buying an additional 11,800 shares in the last quarter. Zacks Investment Management acquired a new stake in Exact Sciences during the third quarter valued at $2,083,000. Profund Advisors LLC increased its holdings 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 buying an additional 55,459 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Exact Sciences by 59.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 335,705 shares of the medical research company’s stock worth $22,868,000 after acquiring an additional 125,192 shares during the period. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Stock Down 5.0 %

Shares of NASDAQ:EXAS opened at $57.38 on Friday. The business’s 50 day moving average is $62.18 and its 200 day moving average is $57.08. The stock has a market cap of $10.62 billion, a P/E ratio of -49.04 and a beta of 1.24. Exact Sciences has a 52-week low of $40.62 and a 52-week high of $79.62. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The firm had revenue of $708.66 million for the quarter, compared to analysts’ expectations of $716.80 million. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. Sell-side analysts predict that Exact Sciences will post -1.13 EPS for the current year.

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.