Envestnet Portfolio Solutions Inc. Decreases Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Envestnet Portfolio Solutions Inc. reduced its holdings in Exact Sciences Co. (NASDAQ:EXAS) by 10.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,819 shares of the medical research company’s stock after selling 2,106 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Exact Sciences were worth $1,001,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. RPg Family Wealth Advisory LLC bought a new stake in Exact Sciences during the third quarter worth approximately $34,000. Asset Planning Inc purchased a new stake in Exact Sciences during the 4th quarter valued at $40,000. Modus Advisors LLC purchased a new position in Exact Sciences during the fourth quarter worth $43,000. AlphaQuest LLC increased its position in Exact Sciences by 22,825.0% during the fourth quarter. AlphaQuest LLC now owns 917 shares of the medical research company’s stock valued at $52,000 after acquiring an additional 913 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Exact Sciences in the fourth quarter valued at $66,000. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EXAS has been the topic of a number of recent analyst reports. TD Cowen increased their price objective on shares of Exact Sciences from $82.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Royal Bank of Canada began coverage on Exact Sciences in a report on Thursday, March 13th. They set a “sector perform” rating and a $52.00 price objective for the company. Barclays decreased their target price on Exact Sciences from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. BTIG Research raised their price target on shares of Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Piper Sandler dropped their target price on shares of Exact Sciences from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Exact Sciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.83.

Exact Sciences Trading Up 3.0 %

NASDAQ:EXAS opened at $45.62 on Friday. The firm has a 50 day moving average of $50.55 and a 200 day moving average of $58.27. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97. Exact Sciences Co. has a 52 week low of $40.62 and a 52 week high of $79.62. The stock has a market capitalization of $8.47 billion, a price-to-earnings ratio of -8.19 and a beta of 1.25.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.23. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. The firm had revenue of $713.42 million during the quarter, compared to analysts’ expectations of $701.45 million. As a group, sell-side analysts anticipate that Exact Sciences Co. will post -0.58 earnings per share for the current fiscal year.

Exact Sciences Profile

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.