Exact Sciences (NASDAQ:EXAS) Receives Outperform Rating from William Blair

William Blair reiterated their outperform rating on shares of Exact Sciences (NASDAQ:EXAS) in a research note issued to investors on Thursday morning,RTT News reports.

A number of other equities research analysts have also recently commented on the company. Raymond James reaffirmed a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. Citigroup decreased their target price on Exact Sciences from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Piper Sandler reduced their price target on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Evercore ISI dropped their price target 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. Finally, Sanford C. Bernstein increased their target price on Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Exact Sciences presently has an average rating of “Moderate Buy” and an average target price of $74.47.

Exact Sciences Price Performance

Exact Sciences stock opened at $52.91 on Thursday. The stock has a market cap of $9.79 billion, a price-to-earnings ratio of -45.22 and a beta of 1.27. Exact Sciences has a 12-month low of $40.62 and a 12-month high of $79.62. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72. The business’s 50-day simple moving average is $64.79 and its 200 day simple moving average is $55.87.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The business had revenue of $708.66 million for the quarter, compared to analyst estimates of $716.80 million. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, research analysts anticipate that Exact Sciences will post -1.08 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Brian Baranick sold 929 shares of the company’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the sale, the executive vice president now owns 12,758 shares in the company, valued at approximately $893,060. This represents a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kevin T. Conroy acquired 19,500 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were bought at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the purchase, the chief executive officer now owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. This represents a 1.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.36% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. William Blair Investment Management LLC acquired a new stake in Exact Sciences in the 2nd quarter valued at about $163,896,000. Groupama Asset Managment acquired a new stake in shares of Exact Sciences in the third quarter valued at approximately $821,000. Sculptor Capital LP bought a new position in shares of Exact Sciences during the 2nd quarter worth approximately $32,819,000. Samlyn Capital LLC bought a new stake in Exact Sciences in the 2nd quarter valued at $30,426,000. Finally, Iron Triangle Partners LP acquired a new stake in Exact Sciences during the 1st quarter valued at $48,342,000. Institutional investors own 88.82% of the company’s stock.

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.