Exact Sciences (NASDAQ:EXAS) Sets New 1-Year High – What’s Next?

Exact Sciences Corporation (NASDAQ:EXAS)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $104.98 and last traded at $104.91, with a volume of 21562100 shares traded. The stock had previously closed at $103.92.

Wall Street Analysts Forecast Growth

EXAS has been the topic of several research analyst reports. Mizuho reiterated a “neutral” rating and set a $105.00 price target (up from $85.00) on shares of Exact Sciences in a research report on Tuesday, January 20th. Stifel Nicolaus restated a “hold” rating and issued a $105.00 price objective (up from $80.00) on shares of Exact Sciences in a report on Friday, November 28th. Evercore set a $105.00 price objective on Exact Sciences and gave the company an “in-line” rating in a research report on Monday, January 5th. TD Cowen downgraded Exact Sciences from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Finally, Zacks Research cut Exact Sciences from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Twenty-one research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $92.13.

Exact Sciences Stock Performance

The company has a market capitalization of $20.03 billion, a P/E ratio of -95.37, a price-to-earnings-growth ratio of 2.02 and a beta of 1.41. The company’s 50 day moving average is $103.17 and its 200-day moving average is $86.84. The company has a current ratio of 2.43, a quick ratio of 2.17 and a debt-to-equity ratio of 0.97.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Friday, February 13th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.29). Exact Sciences had a positive return on equity of 0.53% and a negative net margin of 6.40%.The business had revenue of $878.38 million for the quarter, compared to the consensus estimate of $860.59 million. During the same period in the previous year, the firm earned ($0.06) EPS. The company’s revenue was up 23.1% on a year-over-year basis. Equities analysts anticipate that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Exact Sciences

Hedge funds have recently added to or reduced their stakes in the stock. HBK Investments L P bought a new position in shares of Exact Sciences during the fourth quarter valued at $776,592,000. Pentwater Capital Management LP purchased a new stake in Exact Sciences during the 4th quarter valued at about $736,310,000. Ameriprise Financial Inc. increased its stake in Exact Sciences by 105.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,493,085 shares of the medical research company’s stock valued at $245,802,000 after purchasing an additional 2,310,139 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Exact Sciences by 31.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,909,501 shares of the medical research company’s stock worth $213,889,000 after buying an additional 939,888 shares during the last quarter. Finally, Norges Bank purchased a new position in Exact Sciences in the fourth quarter worth about $348,425,000. 88.82% of the stock is owned by 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.