Exact Sciences Co. (NASDAQ:EXAS) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Exact Sciences Co. (NASDAQ:EXAS) have been assigned a consensus recommendation of “Moderate Buy” from the eighteen ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $72.94.

EXAS has been the topic of a number of recent research reports. TD Cowen raised their target price on shares of Exact Sciences from $82.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Benchmark cut their price target on Exact Sciences from $67.00 to $65.00 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 research note on Thursday, September 26th. Robert W. Baird cut their target price on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Finally, BTIG Research upped their price target on shares of Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th.

Insider Buying and Selling

In other Exact Sciences news, CEO Kevin T. Conroy purchased 19,500 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were purchased at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the transaction, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.36% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Exact Sciences

Several hedge funds have recently made changes to their positions in the business. Huntington National Bank lifted 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 valued at $27,000 after purchasing an additional 352 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of Exact Sciences during the 3rd quarter valued at $34,000. Capital Performance Advisors LLP bought a new stake in shares of Exact Sciences during the 3rd quarter worth $35,000. Vestor Capital LLC acquired a new position in shares of Exact Sciences in the 3rd quarter worth $46,000. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Exact Sciences during the third quarter worth $47,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Price Performance

Shares of NASDAQ EXAS opened at $56.50 on Wednesday. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $10.46 billion, a price-to-earnings ratio of -48.29 and a beta of 1.24. Exact Sciences has a twelve month low of $40.62 and a twelve month high of $79.62. The business has a 50 day simple moving average of $57.82 and a 200-day simple moving average of $58.88.

Exact Sciences (NASDAQ:EXAS) last released its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share 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 business had revenue of $708.66 million for the quarter, compared to the consensus estimate of $716.80 million. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, equities research analysts expect that Exact Sciences will post -1.13 earnings per share 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.