Exact Sciences Co. (NASDAQ:EXAS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Exact Sciences Co. (NASDAQ:EXAS) has earned an average recommendation of “Moderate Buy” from the sixteen brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $80.64.

Several equities research analysts recently commented on the stock. Benchmark cut their price target 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. Wells Fargo & Company assumed coverage on shares of Exact Sciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price target on the stock. Canaccord Genuity Group lifted their price target on shares of Exact Sciences from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday. Sanford C. Bernstein lifted their price target on shares of Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Evercore ISI lifted their price target on shares of Exact Sciences from $72.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st.

Exact Sciences Price Performance

Exact Sciences stock opened at $68.93 on Friday. The stock has a market cap of $12.72 billion, a P/E ratio of -52.22 and a beta of 1.27. The company has a fifty day simple moving average of $66.61 and a 200-day simple moving average of $56.61. Exact Sciences has a 12-month low of $40.62 and a 12-month high of $79.62. The company has a current ratio of 2.17, a quick ratio of 1.98 and a debt-to-equity ratio of 0.73.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.28. The business 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 company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.45) EPS. Equities analysts expect that Exact Sciences will post -0.87 EPS for the current fiscal year.

Insider Transactions at Exact Sciences

In other news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the transaction, the executive vice president now directly owns 13,687 shares in the company, valued at $958,090. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.36% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new stake in Exact Sciences during the second quarter worth about $29,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Exact Sciences by 65.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock worth $31,000 after buying an additional 179 shares in the last quarter. Vestor Capital LLC purchased a new stake in Exact Sciences during the third quarter worth about $46,000. V Square Quantitative Management LLC purchased a new stake in Exact Sciences during the third quarter worth about $47,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Exact Sciences by 92.4% during 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. 88.82% of the stock is currently 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.