Analysts Set Exact Sciences Corporation (NASDAQ:EXAS) PT at $70.40

Exact Sciences Corporation (NASDAQ:EXAS) has been given an average rating of “Moderate Buy” by the twenty-two analysts that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $70.40.

A number of equities analysts recently commented on EXAS shares. Royal Bank Of Canada lifted their target price on shares of Exact Sciences from $52.00 to $54.00 and gave the stock a “sector perform” rating in a research report on Friday, May 2nd. Guggenheim reissued a “buy” rating and issued a $60.00 price target on shares of Exact Sciences in a report on Friday, April 11th. Mizuho started coverage on shares of Exact Sciences in a report on Thursday, April 10th. They issued an “outperform” rating and a $60.00 price target on the stock. Barclays cut their price target on shares of Exact Sciences from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, June 24th. Finally, Evercore ISI raised their target price on shares of Exact Sciences from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd.

Exact Sciences Price Performance

EXAS stock opened at $52.82 on Wednesday. The firm has a market cap of $9.96 billion, a P/E ratio of -9.59, a P/E/G ratio of 11.39 and a beta of 0.95. The firm’s fifty day moving average is $53.73 and its 200 day moving average is $51.23. Exact Sciences has a 52 week low of $39.97 and a 52 week high of $72.83. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.38 and a current ratio of 2.73.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Thursday, May 1st. The medical research company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.16. The company had revenue of $706.79 million for the quarter, compared to analysts’ expectations of $688.58 million. Exact Sciences had a negative net margin of 36.06% and a negative return on equity of 3.75%. The firm’s revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.60) EPS. Research analysts predict that Exact Sciences will post -0.58 earnings per share for the current year.

Insider Transactions at Exact Sciences

In other Exact Sciences news, Director Katherine S. Zanotti sold 3,207 shares of Exact Sciences stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $53.20, for a total value of $170,612.40. Following the completion of the transaction, the director directly owned 72,759 shares of the company’s stock, valued at approximately $3,870,778.80. The trade was a 4.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Bank Pictet & Cie Europe AG grew its stake in shares of Exact Sciences by 1.2% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 129,024 shares of the medical research company’s stock worth $7,250,000 after acquiring an additional 1,547 shares during the period. Proficio Capital Partners LLC bought a new stake in Exact Sciences during the fourth quarter valued at approximately $1,604,000. Fisher Asset Management LLC grew its position in Exact Sciences by 43.7% during the fourth quarter. Fisher Asset Management LLC now owns 176,637 shares of the medical research company’s stock valued at $9,925,000 after buying an additional 53,735 shares during the period. Jones Financial Companies Lllp grew its position in Exact Sciences by 32.2% during the fourth quarter. Jones Financial Companies Lllp now owns 9,508 shares of the medical research company’s stock valued at $534,000 after buying an additional 2,315 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in Exact Sciences during the fourth quarter valued at approximately $66,000. 88.82% of the stock is owned by hedge funds and other institutional investors.

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.