Exact Sciences (NASDAQ:EXAS) Price Target Raised to $80.00

by · The Markets Daily

Exact Sciences (NASDAQ:EXAS – Free Report) had its price objective increased by Evercore ISI from $72.00 to $80.00 in a report released on Tuesday morning, Benzinga reports. They currently have an outperform rating on the medical research company’s stock.

A number of other analysts have also weighed in on the company. Scotiabank started coverage on Exact Sciences in a research report on Thursday, June 27th. They set a sector outperform rating and a $70.00 price objective on the stock. BTIG Research cut their price target on Exact Sciences from $80.00 to $70.00 and set a buy rating on the stock in a report on Wednesday, June 26th. Wells Fargo & Company assumed coverage on Exact Sciences in a research note on Tuesday, August 27th. They issued an overweight rating and a $75.00 price objective for the company. Piper Sandler boosted their price objective on Exact Sciences from $75.00 to $85.00 and gave the stock an overweight rating in a research report on Thursday, September 12th. Finally, Jefferies Financial Group began coverage on shares of Exact Sciences in a report on Monday, June 3rd. They issued a buy rating and a $75.00 target price on the stock. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $78.38.

Read Our Latest Research Report on Exact Sciences

Exact Sciences Stock Performance

Shares of Exact Sciences stock opened at $68.36 on Tuesday. The stock has a market capitalization of $12.61 billion, a price-to-earnings ratio of -51.79 and a beta of 1.27. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.17 and a quick ratio of 1.98. The business has a 50-day moving average of $60.83 and a 200 day moving average of $56.37. Exact Sciences has a 12 month low of $40.62 and a 12 month high of $79.62.

Exact Sciences (NASDAQ:EXAS – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The medical research company reported ($0.09) EPS 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 business had revenue of $699.26 million during the quarter, compared to analyst estimates of $690.02 million. During the same quarter last year, the firm posted ($0.45) earnings per share. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Exact Sciences will post -0.87 earnings per share for the current year.

Insider Transactions at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the transaction, the executive vice president now directly owns 13,687 shares of the company’s stock, valued at $958,090. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.36% of the company’s stock.

Institutional Trading of Exact Sciences

Institutional investors and hedge funds have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Exact Sciences by 16.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,196 shares of the medical research company’s stock worth $6,160,000 after buying an additional 12,349 shares during the last quarter. Thompson Investment Management Inc. lifted its holdings in shares of Exact Sciences by 13.1% during the first quarter. Thompson Investment Management Inc. now owns 160,584 shares of the medical research company’s stock worth $11,090,000 after purchasing an additional 18,595 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Exact Sciences by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 17,559,751 shares of the medical research company’s stock worth $1,299,070,000 after purchasing an additional 115,058 shares during the period. Oppenheimer & Co. Inc. grew its position in Exact Sciences by 4.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 22,687 shares of the medical research company’s stock valued at $1,678,000 after buying an additional 1,020 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its stake in Exact Sciences by 5.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 207,364 shares of the medical research company’s stock valued at $14,361,000 after buying an additional 10,356 shares during the period. 88.82% of the stock is owned by hedge funds and other institutional investors.

About Exact Sciences

(Get Free Report)

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.

Read More