Exact Sciences (NASDAQ:EXAS) Receives “Outperform” Rating from William Blair

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

EXAS has been the topic of several other research reports. Citigroup dropped their price objective on Exact Sciences from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Canaccord Genuity Group dropped their price objective on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. The Goldman Sachs Group reduced their price objective on Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. BTIG Research lifted their price objective on shares of Exact Sciences from $65.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Raymond James reissued a “market perform” rating on shares of Exact Sciences in a research report on Thursday, September 26th. One analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Exact Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $72.94.

Exact Sciences Price Performance

Shares of EXAS stock opened at $53.52 on Monday. The firm’s 50 day moving average price is $57.22 and its two-hundred day moving average price is $59.07. The stock has a market cap of $9.91 billion, a PE ratio of -45.74 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 debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data 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). The company had revenue of $708.66 million during the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The company’s revenue was up 12.8% compared to the same quarter last year. As a group, analysts forecast that Exact Sciences will post -1.13 EPS for the current year.

Insider Transactions at Exact Sciences

In related news, CEO Kevin T. Conroy purchased 19,500 shares of the stock in a transaction on Wednesday, November 13th. The shares were purchased at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the acquisition, the chief executive officer now directly 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.36% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Exact Sciences

Several institutional investors and hedge funds have recently made changes to their positions in the company. Chicago Partners Investment Group LLC lifted its holdings in Exact Sciences by 1.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company’s stock worth $651,000 after purchasing an additional 158 shares during the last quarter. Amalgamated Bank increased its position in Exact Sciences by 2.7% during the 2nd quarter. Amalgamated Bank now owns 10,937 shares of the medical research company’s stock worth $462,000 after buying an additional 284 shares during the period. Huntington National Bank lifted its holdings in shares of 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 in the last quarter. CIBC Asset Management Inc boosted its position in shares of Exact Sciences by 6.1% in the third quarter. CIBC Asset Management Inc now owns 6,489 shares of the medical research company’s stock valued at $442,000 after acquiring an additional 371 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in shares of Exact Sciences by 1.4% in the third quarter. Advisors Asset Management Inc. now owns 28,650 shares of the medical research company’s stock valued at $1,952,000 after acquiring an additional 402 shares during the period. Institutional investors and hedge funds own 88.82% of the company’s stock.

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.