Exact Sciences’ (EXAS) Outperform Rating Reaffirmed at William Blair

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

EXAS has been the subject of several other reports. Wells Fargo & Company began coverage on Exact Sciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 target price for the company. Citigroup decreased their price objective on shares of Exact Sciences from $80.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. TD Cowen dropped their target price 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. Raymond James restated a “market perform” rating on shares of Exact Sciences in a report on Thursday, September 26th. Finally, Stifel Nicolaus dropped their price objective on Exact Sciences from $82.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, Exact Sciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.47.

Exact Sciences Stock Up 0.9 %

NASDAQ EXAS traded up $0.46 during trading on Thursday, reaching $53.53. The company’s stock had a trading volume of 128,340 shares, compared to its average volume of 2,634,350. The business has a 50-day moving average price of $65.04 and a 200-day moving average price of $55.98. Exact Sciences has a 1-year low of $40.62 and a 1-year high of $79.62. The stock has a market capitalization of $9.91 billion, a PE ratio of -45.63 and a beta of 1.27. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72.

Exact Sciences (NASDAQ:EXAS) last posted its 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 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 for the quarter was up 12.8% compared to the same quarter last year. On average, research analysts forecast that Exact Sciences will post -1.08 earnings per share for the current fiscal year.

Insider Activity

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was 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 13,687 shares in the company, valued at approximately $958,090. This trade represents a 6.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin T. Conroy purchased 19,500 shares of the stock in a transaction dated Wednesday, November 13th. The stock was bought at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the purchase, the chief executive officer now owns 1,074,191 shares in the company, valued at $55,159,707.85. The trade was a 1.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.36% of the company’s stock.

Hedge Funds Weigh In On Exact Sciences

Several institutional investors and hedge funds have recently made changes to their positions in the company. Huntington National Bank increased its holdings in shares of Exact Sciences by 838.1% in the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after acquiring an additional 352 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in Exact Sciences in the 3rd quarter valued at $34,000. Capital Performance Advisors LLP acquired a new position in Exact Sciences in the 3rd quarter worth $35,000. Vestor Capital LLC bought a new position in Exact Sciences during the 3rd quarter worth about $46,000. Finally, V Square Quantitative Management LLC bought a new stake in shares of Exact Sciences in the third quarter valued at about $47,000. Institutional investors and hedge funds 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.