Exact Sciences (NASDAQ:EXAS) Trading Up 2.8%

Exact Sciences Co. (NASDAQ:EXAS)’s share price shot up 2.8% during trading on Wednesday . The company traded as high as $61.56 and last traded at $61.56. 215,600 shares were traded during trading, a decline of 92% from the average session volume of 2,623,081 shares. The stock had previously closed at $59.89.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EXAS. Canaccord Genuity Group dropped their target price on Exact Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, May 9th. BTIG Research dropped their price objective on shares of Exact Sciences from $80.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Benchmark reduced their target price on shares of Exact Sciences from $91.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Stifel Nicolaus dropped their price target on shares of Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Finally, Citigroup cut their price target on shares of Exact Sciences from $100.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $78.50.

Exact Sciences Stock Up 2.7 %

The company has a current ratio of 2.17, a quick ratio of 1.45 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $11.35 billion, a PE ratio of -46.79 and a beta of 1.22. The business has a fifty day moving average of $50.16 and a 200 day moving average of $55.31.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.28. The firm had revenue of $699.26 million during the quarter, compared to analysts’ expectations of $690.02 million. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.45) earnings per share. Equities research analysts anticipate that Exact Sciences Co. will post -1.17 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Exact Sciences by 16.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,196 shares of the medical research company’s stock worth $6,160,000 after buying an additional 12,349 shares in the last quarter. Thompson Investment Management Inc. increased its position in shares of Exact Sciences by 13.1% in the 1st quarter. Thompson Investment Management Inc. now owns 160,584 shares of the medical research company’s stock valued at $11,090,000 after purchasing an additional 18,595 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Exact Sciences by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 17,559,751 shares of the medical research company’s stock valued at $1,299,070,000 after purchasing an additional 115,058 shares in the last quarter. New York Life Investment Management LLC lifted its position in shares of Exact Sciences by 5.0% during the 4th quarter. New York Life Investment Management LLC now owns 21,106 shares of the medical research company’s stock worth $1,561,000 after purchasing an additional 1,014 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in shares of Exact Sciences by 4.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 22,687 shares of the medical research company’s stock worth $1,678,000 after purchasing an additional 1,020 shares in the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.

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.