Exact Sciences (NASDAQ:EXAS) Given Market Perform Rating at Raymond James

Raymond James reissued their market perform rating on shares of Exact Sciences (NASDAQ:EXAS) in a research report sent to investors on Thursday morning, Benzinga reports.

EXAS has been the topic of several other reports. Evercore ISI lowered their price objective on shares of Exact Sciences from $80.00 to $72.00 and set an outperform rating on the stock in a research note on Tuesday, July 2nd. Piper Sandler boosted their price target on Exact Sciences from $75.00 to $85.00 and gave the company an overweight rating in a research note on Thursday, September 12th. BTIG Research cut their price objective on shares of Exact Sciences from $80.00 to $70.00 and set a buy rating for the company in a research report on Wednesday, June 26th. Jefferies Financial Group initiated coverage on Exact Sciences in a research note on Monday, June 3rd. They set a buy rating and a $75.00 target price for the company. Finally, The Goldman Sachs Group reduced their price objective on Exact Sciences from $88.00 to $75.00 and set a buy rating on the stock in a research note on Wednesday, July 17th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $77.77.

Exact Sciences Price Performance

Shares of EXAS opened at $65.96 on Thursday. The firm has a market capitalization of $12.17 billion, a PE ratio of -49.97 and a beta of 1.26. Exact Sciences has a 52-week low of $40.62 and a 52-week high of $79.62. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.98 and a current ratio of 2.17. The stock has a 50 day simple moving average of $59.32 and a 200 day simple moving average of $56.09.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.28. The business had revenue of $699.26 million during the quarter, compared to the consensus estimate of $690.02 million. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. Exact Sciences’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period last year, the company earned ($0.45) earnings per share. Sell-side analysts predict that Exact Sciences will post -0.87 EPS for the current fiscal year.

Insider Activity at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the transaction, the executive vice president now owns 13,687 shares in the company, valued at $958,090. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.36% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Exact Sciences by 65.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock valued at $31,000 after buying an additional 179 shares in the last quarter. Able Wealth Management LLC bought a new position in shares of Exact Sciences in the fourth quarter worth $45,000. Itau Unibanco Holding S.A. bought a new position in Exact Sciences in the 2nd quarter worth about $29,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Exact Sciences by 92.4% in the first quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock worth $49,000 after buying an additional 340 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new position in shares of Exact Sciences in the first quarter worth $55,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

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.