Exact Sciences (NASDAQ:EXAS) Earns Outperform Rating from Analysts at Mizuho

Mizuho initiated coverage on shares of Exact Sciences (NASDAQ:EXAS) in a research note published on Thursday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $60.00 target price on the medical research company’s stock.

A number of other research firms have also recently issued reports on EXAS. Scotiabank lifted their target price on shares of Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a research note on Monday, February 24th. Benchmark reiterated a “buy” rating and issued a $65.00 price objective on shares of Exact Sciences in a report on Monday, January 13th. Barclays lowered their target price on shares of Exact Sciences from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. Royal Bank of Canada assumed coverage on Exact Sciences in a research report on Thursday, March 13th. They issued a “sector perform” rating and a $52.00 price target for the company. Finally, Guggenheim set a $60.00 price objective on Exact Sciences and gave the company a “buy” rating in a research note on Friday, March 28th. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Exact Sciences currently has a consensus rating of “Moderate Buy” and an average price target of $69.25.

Exact Sciences Trading Up 1.6 %

Exact Sciences stock opened at $44.45 on Thursday. 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 has a 12 month low of $39.97 and a 12 month high of $73.10. The company’s fifty day simple moving average is $46.95 and its 200-day simple moving average is $55.80. The stock has a market cap of $8.26 billion, a P/E ratio of -7.98 and a beta of 1.14.

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

Institutional Investors Weigh In On Exact Sciences

Several hedge funds have recently made changes to their positions in EXAS. Perigon Wealth Management LLC raised its holdings in Exact Sciences by 3.2% in the 4th quarter. Perigon Wealth Management LLC now owns 8,436 shares of the medical research company’s stock valued at $474,000 after acquiring an additional 264 shares in the last quarter. Sanctuary Advisors LLC raised its stake in shares of Exact Sciences by 2.0% in the fourth quarter. Sanctuary Advisors LLC now owns 13,625 shares of the medical research company’s stock valued at $763,000 after purchasing an additional 269 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Exact Sciences by 2.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 14,447 shares of the medical research company’s stock valued at $812,000 after purchasing an additional 300 shares in the last quarter. Curi RMB Capital LLC lifted its position in Exact Sciences by 1.7% in the fourth quarter. Curi RMB Capital LLC now owns 24,896 shares of the medical research company’s stock worth $1,399,000 after purchasing an additional 428 shares during the period. Finally, Patten & Patten Inc. TN boosted its stake in Exact Sciences by 1.8% during the fourth quarter. Patten & Patten Inc. TN now owns 26,153 shares of the medical research company’s stock worth $1,470,000 after buying an additional 460 shares in the last quarter. Institutional investors own 88.82% of the company’s stock.

Exact Sciences Company 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.