Analysts Set Exact Sciences Co. (NASDAQ:EXAS) PT at $70.90

Shares of Exact Sciences Co. (NASDAQ:EXAS) have been assigned an average recommendation of “Moderate Buy” from the twenty-two brokerages that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $70.90.

EXAS has been the subject of a number of research reports. Bank of America decreased their price objective on Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Robert W. Baird increased their price objective on Exact Sciences from $69.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Piper Sandler decreased their price objective on Exact Sciences from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. William Blair reiterated an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 20th. Finally, Mizuho initiated coverage on Exact Sciences in a report on Thursday, April 10th. They issued an “outperform” rating and a $60.00 price objective for the company.

Hedge Funds Weigh In On Exact Sciences

Several institutional investors and hedge funds have recently modified their holdings of the stock. Graham Capital Management L.P. purchased a new stake in shares of Exact Sciences during the first quarter valued at $520,000. Armistice Capital LLC boosted its position in shares of Exact Sciences by 9.6% during the first quarter. Armistice Capital LLC now owns 1,772,369 shares of the medical research company’s stock valued at $76,726,000 after buying an additional 155,369 shares during the last quarter. Magnetar Financial LLC purchased a new stake in shares of Exact Sciences during the first quarter valued at $325,000. State of Wyoming purchased a new stake in shares of Exact Sciences during the first quarter valued at $176,000. Finally, Ieq Capital LLC boosted its position in shares of Exact Sciences by 67.8% during the first quarter. Ieq Capital LLC now owns 45,285 shares of the medical research company’s stock valued at $1,960,000 after buying an additional 18,292 shares during the last quarter. 88.82% of the stock is currently owned by institutional investors.

Exact Sciences Price Performance

Shares of Exact Sciences stock opened at $56.17 on Tuesday. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97. The company has a market cap of $10.60 billion, a PE ratio of -10.08 and a beta of 0.92. The business has a 50 day moving average of $46.16 and a 200 day moving average of $52.41. Exact Sciences has a 52 week low of $39.97 and a 52 week high of $72.83.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Thursday, May 1st. The medical research company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.16. The company had revenue of $706.79 million during the quarter, compared to the consensus estimate of $688.58 million. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.60) earnings per share. As a group, equities research analysts forecast that Exact Sciences will post -0.58 earnings per share for the current year.

About Exact Sciences

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.