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

Exact Sciences Co. (NASDAQ:EXAS) has been given an average recommendation of “Moderate Buy” by the nineteen ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and eighteen have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $71.94.

Several research firms have recently commented on EXAS. Barclays lowered their target price on Exact Sciences from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Stifel Nicolaus dropped their target price on Exact Sciences from $82.00 to $67.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Scotiabank boosted their price target on shares of Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a report on Monday, February 24th. BTIG Research increased their price objective on shares of Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, William Blair reiterated an “outperform” rating on shares of Exact Sciences in a research report on Thursday, February 20th.

Hedge Funds Weigh In On Exact Sciences

Several hedge funds have recently modified their holdings of the company. Siemens Fonds Invest GmbH bought a new position in Exact Sciences during the fourth quarter valued at about $215,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Exact Sciences during the 4th quarter valued at about $8,949,000. Integrated Advisors Network LLC boosted its position in shares of Exact Sciences by 23.7% during the 4th quarter. Integrated Advisors Network LLC now owns 6,657 shares of the medical research company’s stock valued at $374,000 after purchasing an additional 1,276 shares in the last quarter. Polar Asset Management Partners Inc. grew its stake in shares of Exact Sciences by 20.1% in the 4th quarter. Polar Asset Management Partners Inc. now owns 81,997 shares of the medical research company’s stock worth $4,607,000 after purchasing an additional 13,697 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings in shares of Exact Sciences by 107.7% in the 4th quarter. Mackenzie Financial Corp now owns 2,919,325 shares of the medical research company’s stock worth $164,037,000 after purchasing an additional 1,513,873 shares in the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Exact Sciences Stock Performance

Shares of EXAS opened at $47.63 on Thursday. The stock has a market capitalization of $8.85 billion, a PE ratio of -8.55 and a beta of 1.24. The business’s fifty day moving average price is $53.52 and its 200 day moving average price is $59.60. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.15 and a quick ratio of 1.93. Exact Sciences has a 12-month low of $40.62 and a 12-month high of $79.62.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.23. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The company had revenue of $713.42 million for the quarter, compared to the consensus estimate of $701.45 million. Equities research analysts forecast that Exact Sciences will post -0.58 EPS for the current year.

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.