Exact Sciences (NASDAQ:EXAS) Hits New 1-Year High – Here’s What Happened

Exact Sciences Corporation (NASDAQ:EXAS)’s stock price reached a new 52-week high on Monday . The company traded as high as $103.75 and last traded at $103.71, with a volume of 3185358 shares trading hands. The stock had previously closed at $103.50.

Analyst Ratings Changes

Several analysts have issued reports on the company. Zacks Research downgraded Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Barclays reissued an “equal weight” rating and issued a $105.00 target price (up from $77.00) on shares of Exact Sciences in a research report on Thursday, November 20th. Wolfe Research lowered shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. Evercore set a $105.00 price target on shares of Exact Sciences and gave the company an “in-line” rating in a research report on Monday, January 5th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $105.00 price objective (up from $85.00) on shares of Exact Sciences in a research note on Thursday, November 20th. Twenty-one investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Exact Sciences presently has an average rating of “Reduce” and an average target price of $92.13.

Exact Sciences Price Performance

The company has a current ratio of 2.43, a quick ratio of 2.17 and a debt-to-equity ratio of 0.97. The stock has a 50-day simple moving average of $102.72 and a 200 day simple moving average of $82.91. The stock has a market capitalization of $19.74 billion, a price-to-earnings ratio of -94.00, a price-to-earnings-growth ratio of 2.36 and a beta of 1.41.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Friday, February 13th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.29). Exact Sciences had a negative net margin of 6.40% and a positive return on equity of 0.53%. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same period last year, the company posted ($0.06) earnings per share. On average, equities research analysts forecast that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Exact Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in EXAS. Integrated Wealth Concepts LLC bought a new position in shares of Exact Sciences during the 1st quarter valued at $604,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Exact Sciences by 11.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,186 shares of the medical research company’s stock valued at $921,000 after purchasing an additional 2,231 shares during the period. Great Lakes Advisors LLC grew its stake in shares of Exact Sciences by 3.7% in the first quarter. Great Lakes Advisors LLC now owns 4,971 shares of the medical research company’s stock worth $215,000 after acquiring an additional 178 shares during the last quarter. Focus Partners Wealth grew its position in Exact Sciences by 12.6% in the 1st quarter. Focus Partners Wealth now owns 21,548 shares of the medical research company’s stock worth $933,000 after purchasing an additional 2,413 shares during the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in Exact Sciences during the second quarter valued at about $85,000. 88.82% of the stock is owned by hedge funds and other institutional investors.

About Exact Sciences

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.