William Blair Reaffirms “Outperform” Rating for Exact Sciences (NASDAQ:EXAS)

Exact Sciences (NASDAQ:EXAS)‘s stock had its “outperform” rating reissued by equities researchers at William Blair in a report released on Monday,RTT News reports.

A number of other research firms have also weighed in on EXAS. Stifel Nicolaus lowered their target price on shares of Exact Sciences from $82.00 to $67.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Canaccord Genuity Group lowered their target price 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. Evercore ISI lowered their target price on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Jefferies Financial Group upped their target price on shares of Exact Sciences from $84.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Sanford C. Bernstein upped their target price on shares of Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.94.

Exact Sciences Stock Up 3.6 %

Shares of EXAS stock traded up $2.01 on Monday, reaching $58.51. 2,969,365 shares of the company were exchanged, compared to its average volume of 2,089,950. The company has a market cap of $10.83 billion, a price-to-earnings ratio of -50.01 and a beta of 1.24. The company has a 50-day moving average of $57.82 and a 200-day moving average of $58.88. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93. Exact Sciences has a one year low of $40.62 and a one year high of $79.62.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The company had revenue of $708.66 million for the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences’s revenue was up 12.8% on a year-over-year basis. Analysts anticipate that Exact Sciences will post -1.13 earnings per share for the current year.

Insider Transactions at Exact Sciences

In other Exact Sciences news, CEO Kevin T. Conroy acquired 19,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was bought 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 owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. This represents a 1.85 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.36% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of EXAS. Groupama Asset Managment bought a new position in Exact Sciences in the 3rd quarter worth approximately $821,000. Sculptor Capital LP bought a new position in Exact Sciences in the 2nd quarter valued at $32,819,000. Samlyn Capital LLC bought a new position in Exact Sciences in the 2nd quarter valued at $30,426,000. Armistice Capital LLC boosted its holdings in Exact Sciences by 91.6% in the 2nd quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock valued at $59,154,000 after purchasing an additional 669,438 shares during the period. Finally, ArrowMark Colorado Holdings LLC bought a new position in Exact Sciences in the 3rd quarter valued at $28,608,000. 88.82% of the stock is owned by institutional investors.

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.