Exact Sciences Corporation (NASDAQ:EXAS) Receives $92.13 Consensus Target Price from Analysts

Exact Sciences Corporation (NASDAQ:EXAS) has received an average recommendation of “Reduce” from the twenty-two ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and twenty-one have given a hold recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $92.1250.

Several equities analysts recently commented on EXAS shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Exact Sciences in a research report on Thursday, January 22nd. BTIG Research reissued a “neutral” rating on shares of Exact Sciences in a research report on Tuesday, March 24th. Evercore set a $105.00 price target on Exact Sciences and gave the stock an “in-line” rating in a research report on Monday, January 5th. Zacks Research lowered Exact Sciences from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $105.00 target price (up from $85.00) on shares of Exact Sciences in a research report on Tuesday, January 20th.

Hedge Funds Weigh In On Exact Sciences

Institutional investors have recently made changes to their positions in the business. Marshall Wace LLP raised its position in shares of Exact Sciences by 1,553.1% in the 2nd quarter. Marshall Wace LLP now owns 429,719 shares of the medical research company’s stock valued at $22,835,000 after purchasing an additional 403,724 shares in the last quarter. Holocene Advisors LP raised its position in shares of Exact Sciences by 189.5% in the 2nd quarter. Holocene Advisors LP now owns 2,145,181 shares of the medical research company’s stock valued at $113,995,000 after purchasing an additional 1,404,086 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Exact Sciences by 25.5% in the 3rd quarter. Fisher Asset Management LLC now owns 198,287 shares of the medical research company’s stock valued at $10,848,000 after purchasing an additional 40,258 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Exact Sciences in the 4th quarter valued at approximately $47,848,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Exact Sciences by 643.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,286,595 shares of the medical research company’s stock valued at $70,390,000 after acquiring an additional 1,113,459 shares during the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.

Exact Sciences Stock Performance

Exact Sciences stock opened at $104.91 on Friday. The stock’s 50 day moving average price is $103.67 and its 200 day moving average price is $90.43. The firm has a market capitalization of $20.03 billion, a PE ratio of -95.37, a price-to-earnings-growth ratio of 2.02 and a beta of 1.41. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.17 and a current ratio of 2.43. Exact Sciences has a one year low of $38.81 and a one year high of $104.98.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings results 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). The company had revenue of $878.38 million for the quarter, compared to analyst estimates of $860.59 million. Exact Sciences had a positive return on equity of 0.53% and a negative net margin of 6.40%.The business’s revenue was up 23.1% on a year-over-year basis. During the same period last year, the firm posted ($0.06) earnings per share. As a group, sell-side analysts expect that Exact Sciences will post -0.58 EPS for the current fiscal year.

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.