Exact Sciences Co. (NASDAQ:EXAS) Receives $78.77 Consensus Price Target from Brokerages

Shares of Exact Sciences Co. (NASDAQ:EXAS) have been given an average rating of “Buy” by the fourteen ratings firms that are covering the stock, MarketBeat Ratings reports. Fourteen analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $78.77.

EXAS has been the subject of several research reports. The Goldman Sachs Group decreased their price objective on shares of Exact Sciences from $88.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Evercore ISI decreased their price objective on shares of Exact Sciences from $80.00 to $72.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Scotiabank initiated coverage on shares of Exact Sciences in a report on Thursday, June 27th. They set a “sector outperform” rating and a $70.00 price objective for the company. BTIG Research decreased 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, June 26th. Finally, Jefferies Financial Group assumed coverage on shares of Exact Sciences in a report on Monday, June 3rd. They set a “buy” rating and a $75.00 target price for the company.

Hedge Funds Weigh In On Exact Sciences

A number of hedge funds have recently modified their holdings of EXAS. Capital World Investors boosted its position in shares of Exact Sciences by 74.4% in the first quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock worth $899,528,000 after purchasing an additional 5,557,168 shares during the period. William Blair Investment Management LLC bought a new position in shares of Exact Sciences in the second quarter worth approximately $163,896,000. Norges Bank bought a new position in shares of Exact Sciences during the fourth quarter worth $120,308,000. Champlain Investment Partners LLC boosted its position in shares of Exact Sciences by 175.3% during the first quarter. Champlain Investment Partners LLC now owns 2,258,235 shares of the medical research company’s stock worth $155,954,000 after acquiring an additional 1,438,010 shares during the last quarter. Finally, Sculptor Capital LP bought a new position in shares of Exact Sciences during the second quarter worth $32,819,000. 88.82% of the stock is currently owned by institutional investors.

Exact Sciences Stock Up 0.5 %

Shares of Exact Sciences stock opened at $58.75 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.45 and a current ratio of 2.17. The stock has a market capitalization of $10.84 billion, a PE ratio of -44.51 and a beta of 1.22. Exact Sciences has a 52-week low of $40.62 and a 52-week high of $85.71. The company has a 50-day simple moving average of $47.74 and a two-hundred day simple moving average of $55.53.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.28. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The firm had revenue of $699.26 million during the quarter, compared to analysts’ expectations of $690.02 million. During the same period in the previous year, the company earned ($0.45) earnings per share. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. On average, analysts anticipate that Exact Sciences will post -1.17 EPS 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.