Analysts Set Exact Sciences Co. (NASDAQ:EXAS) PT at $97.44

Exact Sciences Co. (NASDAQ:EXAS) has received a consensus rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, MarketBeat.com 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 twelve-month target price among brokers that have issued ratings on the stock in the last year is $99.07.

EXAS has been the topic of several recent analyst reports. Canaccord Genuity Group cut their target price on shares of Exact Sciences from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. TheStreet downgraded shares of Exact Sciences from a “c-” rating to a “d+” rating in a research note on Monday, February 26th. Citigroup reissued a “buy” rating and issued a $100.00 target price on shares of Exact Sciences in a research note on Wednesday, April 3rd. Finally, William Blair reissued an “outperform” rating on shares of Exact Sciences in a research note on Thursday, February 22nd.

Exact Sciences Stock Down 3.1 %

EXAS opened at $61.41 on Friday. The company has a fifty day moving average price of $63.58 and a 200-day moving average price of $64.69. Exact Sciences has a one year low of $56.05 and a one year high of $100.77. The firm has a market capitalization of $11.29 billion, a P/E ratio of -53.87 and a beta of 1.26. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.32 and a quick ratio of 2.07.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Wednesday, February 21st. The medical research company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.26. The firm had revenue of $646.89 million for the quarter, compared to the consensus estimate of $638.83 million. Exact Sciences had a negative net margin of 8.17% and a negative return on equity of 6.60%. The business’s revenue was up 17.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.72) earnings per share. Equities research analysts expect that Exact Sciences will post -0.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel James Herriott sold 421 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total transaction of $25,862.03. Following the sale, the general counsel now owns 6,494 shares in the company, valued at $398,926.42. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Kevin T. Conroy sold 1,155 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $60.15, for a total transaction of $69,473.25. Following the transaction, the chief executive officer now owns 1,156,191 shares in the company, valued at $69,544,888.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel James Herriott sold 421 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total transaction of $25,862.03. Following the sale, the general counsel now owns 6,494 shares of the company’s stock, valued at $398,926.42. The disclosure for this sale can be found here. Insiders have sold a total of 70,611 shares of company stock worth $4,255,377 in the last quarter. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Exact Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wolff Wiese Magana LLC boosted its stake in shares of Exact Sciences by 459.5% during the 4th quarter. Wolff Wiese Magana LLC now owns 414 shares of the medical research company’s stock worth $31,000 after acquiring an additional 340 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in Exact Sciences by 65.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 179 shares during the period. BluePath Capital Management LLC purchased a new stake in Exact Sciences in the third quarter worth about $33,000. Able Wealth Management LLC bought a new position in shares of Exact Sciences in the fourth quarter worth about $45,000. Finally, Cullen Frost Bankers Inc. grew its stake in shares of Exact Sciences by 40.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 700 shares of the medical research company’s stock valued at $48,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 88.82% of the company’s stock.

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.