Exact Sciences Co. (NASDAQ:EXAS) Given Consensus Rating of “Moderate Buy” by Brokerages

Exact Sciences Co. (NASDAQ:EXAS) has received an average rating of “Moderate Buy” from the thirteen analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $89.23.

Several analysts recently commented on EXAS shares. Citigroup reduced their target price on shares of Exact Sciences from $100.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Canaccord Genuity Group lowered their price target on shares of Exact Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. BTIG Research cut their price objective on shares of Exact Sciences from $80.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Jefferies Financial Group started coverage on shares of Exact Sciences in a report on Monday, June 3rd. They set a “buy” rating and a $75.00 target price on the stock.

Insider Activity

In related news, EVP Sarah Condella sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $70.00, for a total transaction of $140,000.00. Following the completion of the transaction, the executive vice president now directly owns 71,787 shares in the company, valued at approximately $5,025,090. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Sarah Condella sold 2,000 shares of Exact Sciences stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $70.00, for a total transaction of $140,000.00. Following the sale, the executive vice president now directly owns 71,787 shares of the company’s stock, valued at $5,025,090. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin T. Conroy sold 1,155 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $60.15, for a total value of $69,473.25. Following the completion of the transaction, the chief executive officer now directly owns 1,156,191 shares of the company’s stock, valued at approximately $69,544,888.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,498 shares of company stock worth $230,105. Corporate insiders own 1.36% of the company’s stock.

Hedge Funds Weigh In On Exact Sciences

A number of hedge funds have recently modified their holdings of the business. Korea Investment CORP raised its holdings in Exact Sciences by 37.5% during the 3rd quarter. Korea Investment CORP now owns 26,306 shares of the medical research company’s stock worth $1,795,000 after purchasing an additional 7,168 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of Exact Sciences in the 3rd quarter worth about $1,413,000. Envestnet Asset Management Inc. lifted its stake in shares of Exact Sciences by 13.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 366,790 shares of the medical research company’s stock valued at $25,022,000 after purchasing an additional 42,896 shares during the period. Nordea Investment Management AB grew its stake in Exact Sciences by 1.6% during the third quarter. Nordea Investment Management AB now owns 18,858 shares of the medical research company’s stock worth $1,310,000 after purchasing an additional 293 shares during the period. Finally, LPL Financial LLC increased its holdings in Exact Sciences by 3.9% in the third quarter. LPL Financial LLC now owns 80,176 shares of the medical research company’s stock worth $5,470,000 after purchasing an additional 3,040 shares in the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Stock Up 6.7 %

EXAS stock opened at $44.16 on Friday. Exact Sciences has a fifty-two week low of $40.62 and a fifty-two week high of $100.77. The business has a 50-day moving average of $51.16 and a 200-day moving average of $60.52. The stock has a market capitalization of $8.15 billion, a P/E ratio of -33.45 and a beta of 1.26. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.64 and a quick ratio of 1.45.

Exact Sciences (NASDAQ:EXAS) last released its earnings results on Wednesday, May 8th. The medical research company reported ($0.50) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.50). The business had revenue of $637.52 million for the quarter, compared to analyst estimates of $624.95 million. Exact Sciences had a negative return on equity of 7.12% and a negative net margin of 9.48%. On average, sell-side analysts anticipate that Exact Sciences will post -1.15 earnings per share for the current fiscal 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.