Exact Sciences (NASDAQ:EXAS) Rating Increased to Strong-Buy at Zacks Research

Exact Sciences (NASDAQ:EXAS) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Benchmark lowered shares of Exact Sciences from a “buy” rating to a “hold” rating in a research note on Monday, November 24th. Craig Hallum lowered Exact Sciences from a “buy” rating to a “hold” rating and set a $105.00 target price for the company. in a report on Friday, November 21st. Evercore ISI upped their price target on Exact Sciences from $64.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Wolfe Research lowered Exact Sciences from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 20th. Finally, William Blair downgraded Exact Sciences from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 20th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, nineteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $85.00.

Exact Sciences Trading Up 0.2%

Exact Sciences stock opened at $101.74 on Thursday. The company has a quick ratio of 2.44, a current ratio of 2.72 and a debt-to-equity ratio of 0.93. Exact Sciences has a 52 week low of $38.81 and a 52 week high of $102.66. The stock has a 50-day moving average price of $89.25 and a 200 day moving average price of $65.05. The company has a market capitalization of $19.28 billion, a price-to-earnings ratio of -19.12, a price-to-earnings-growth ratio of 2.40 and a beta of 1.40.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Monday, November 3rd. The medical research company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.11. Exact Sciences had a negative net margin of 32.01% and a positive return on equity of 1.67%. The company had revenue of $850.74 million during the quarter, compared to the consensus estimate of $810.42 million. During the same period in the previous year, the firm posted ($0.21) earnings per share. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. Sell-side analysts anticipate that Exact Sciences will post -0.58 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Brian Baranick sold 2,858 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $70.08, for a total transaction of $200,288.64. Following the completion of the transaction, the executive vice president owned 22,368 shares of the company’s stock, valued at $1,567,549.44. This represents a 11.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James Edward Doyle sold 2,000 shares of Exact Sciences stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $60.00, for a total transaction of $120,000.00. Following the completion of the transaction, the director owned 57,962 shares in the company, valued at approximately $3,477,720. This trade represents a 3.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 9,858 shares of company stock worth $695,289. 1.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Exact Sciences

A number of hedge funds have recently added to or reduced their stakes in EXAS. True Wealth Design LLC increased its holdings in shares of Exact Sciences by 951.8% during the second quarter. True Wealth Design LLC now owns 589 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 533 shares during the period. Westside Investment Management Inc. increased its holdings in shares of Exact Sciences by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 542 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 271 shares during the period. Country Trust Bank acquired a new position in Exact Sciences in the 2nd quarter valued at approximately $32,000. Bessemer Group Inc. raised its holdings in shares of Exact Sciences by 1,980.6% during the second quarter. Bessemer Group Inc. now owns 645 shares of the medical research company’s stock worth $34,000 after acquiring an additional 614 shares in the last quarter. Finally, Bayforest Capital Ltd raised its stake in shares of Exact Sciences by 95.8% during the 1st quarter. Bayforest Capital Ltd now owns 926 shares of the medical research company’s stock worth $40,000 after purchasing an additional 453 shares in the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Company Profile

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.