Insider Buying: Exact Sciences Co. (NASDAQ:EXAS) CEO Purchases 19,500 Shares of Stock

Exact Sciences Co. (NASDAQ:EXAS) CEO Kevin T. Conroy purchased 19,500 shares of Exact Sciences stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the transaction, the chief executive officer now directly owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. The trade was a 1.85 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Exact Sciences Price Performance

Exact Sciences stock opened at $49.33 on Friday. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $79.62. The company has a market cap of $9.13 billion, a price-to-earnings ratio of -42.16 and a beta of 1.27. The firm’s fifty day moving average is $65.83 and its 200 day moving average is $56.20. 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 analysts’ consensus estimates 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 business had revenue of $708.66 million during the quarter, compared to the consensus estimate of $716.80 million. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. Sell-side analysts forecast that Exact Sciences Co. will post -1.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Exact Sciences

Several large investors have recently modified their holdings of the stock. Huntington National Bank boosted its stake in Exact Sciences by 838.1% during the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after buying an additional 352 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of Exact Sciences during the 2nd quarter worth about $29,000. RPg Family Wealth Advisory LLC bought a new position in Exact Sciences during the 3rd quarter valued at about $34,000. Capital Performance Advisors LLP purchased a new stake in Exact Sciences in the 3rd quarter worth about $35,000. Finally, Vestor Capital LLC bought a new stake in Exact Sciences in the third quarter worth about $46,000. Institutional investors own 88.82% of the company’s stock.

Analysts Set New Price Targets

EXAS has been the subject of several analyst reports. Stifel Nicolaus reduced their price objective on Exact Sciences from $82.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Evercore ISI lowered their price objective 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. Robert W. Baird reduced their target price on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. TD Cowen lowered their price target on shares of Exact Sciences from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Piper Sandler reduced their price objective on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $74.47.

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.