Exact Sciences (NASDAQ:EXAS) Trading 5.7% Higher – Here’s What Happened

Shares of Exact Sciences Co. (NASDAQ:EXAS) traded up 5.7% on Monday . The company traded as high as $44.17 and last traded at $43.94. 1,282,280 shares were traded during mid-day trading, a decline of 51% from the average session volume of 2,600,964 shares. The stock had previously closed at $41.58.

Wall Street Analyst Weigh In

EXAS has been the topic of a number of analyst reports. Benchmark reiterated a “buy” rating and set a $65.00 price objective on shares of Exact Sciences in a research note on Monday, January 13th. Mizuho assumed coverage on Exact Sciences in a research report on Thursday, April 10th. They set an “outperform” rating and a $60.00 price target on the stock. Scotiabank lifted their target price on Exact Sciences from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 24th. Bank of America reduced their price objective on shares of Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Finally, Barclays dropped their price objective on shares of Exact Sciences from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.25.

Exact Sciences Stock Up 3.7 %

The company has a market capitalization of $8.01 billion, a P/E ratio of -7.74 and a beta of 1.14. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15. The firm’s fifty day moving average is $45.87 and its 200-day moving average is $54.87.

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

Institutional Investors Weigh In On Exact Sciences

Hedge funds have recently added to or reduced their stakes in the business. Asset Planning Inc acquired a new position in shares of Exact Sciences during the fourth quarter worth $40,000. Modus Advisors LLC bought a new stake in shares of Exact Sciences in the 4th quarter valued at about $43,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Exact Sciences in the 4th quarter valued at about $45,000. AlphaQuest LLC raised its position in shares of Exact Sciences by 22,825.0% during the fourth quarter. AlphaQuest LLC now owns 917 shares of the medical research company’s stock worth $52,000 after acquiring an additional 913 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Exact Sciences in the fourth quarter worth approximately $66,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

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.