Exact Sciences (NASDAQ:EXAS) Stock Price Up 4.8% After Analyst Upgrade

Exact Sciences Co. (NASDAQ:EXAS)’s stock price rose 4.8% on Monday after Scotiabank raised their price target on the stock from $70.00 to $73.00. Scotiabank currently has a sector outperform rating on the stock. Exact Sciences traded as high as $51.50 and last traded at $51.64. 762,199 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 2,291,274 shares. The stock had previously closed at $49.26.

Other research analysts have also issued research reports about the company. Canaccord Genuity Group reduced their price target on Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Evercore ISI reduced their target price on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Stifel Nicolaus lowered their price target on Exact Sciences from $82.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Robert W. Baird dropped their price objective on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group decreased their target price on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Exact Sciences presently has an average rating of “Moderate Buy” and a consensus price target of $72.24.

Institutional Investors Weigh In On Exact Sciences

Large investors have recently modified their holdings of the stock. Thompson Investment Management Inc. boosted its holdings in Exact Sciences by 17.8% in the 4th quarter. Thompson Investment Management Inc. now owns 241,774 shares of the medical research company’s stock worth $13,585,000 after acquiring an additional 36,505 shares during the period. WCM Investment Management LLC boosted its stake in shares of Exact Sciences by 1,153.2% in the third quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company’s stock valued at $12,388,000 after purchasing an additional 172,821 shares during the period. Simplify Asset Management Inc. grew its holdings in Exact Sciences by 67.5% during the 3rd quarter. Simplify Asset Management Inc. now owns 29,277 shares of the medical research company’s stock valued at $1,994,000 after purchasing an additional 11,800 shares in the last quarter. Zacks Investment Management purchased a new stake in Exact Sciences during the 3rd quarter worth $2,083,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Exact Sciences by 59.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 335,705 shares of the medical research company’s stock worth $22,868,000 after buying an additional 125,192 shares in the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Stock Down 2.1 %

The company has a market capitalization of $9.32 billion, a price-to-earnings ratio of -9.01 and a beta of 1.24. 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 firm has a 50 day moving average price of $54.52 and a two-hundred day moving average price of $59.95.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, beating 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 company had revenue of $713.42 million for the quarter, compared to analyst estimates of $701.45 million. As a group, sell-side analysts expect that Exact Sciences Co. will post -0.58 earnings per share for the current year.

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.