Exact Sciences (NASDAQ:EXAS) Given New $90.00 Price Target at Sanford C. Bernstein

Exact Sciences (NASDAQ:EXAS) had its price target hoisted by Sanford C. Bernstein from $75.00 to $90.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the medical research company’s stock.

Several other research firms also recently weighed in on EXAS. Canaccord Genuity Group raised 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, October 29th. Raymond James restated a “market perform” rating on shares of Exact Sciences in a report on Thursday, September 26th. Benchmark reduced their price objective on Exact Sciences from $91.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Evercore ISI upped their target price on Exact Sciences from $72.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, Wells Fargo & Company assumed coverage on Exact Sciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 target price for the company. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $80.64.

Exact Sciences Stock Up 1.3 %

Exact Sciences stock opened at $69.80 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.17 and a quick ratio of 1.98. The stock has a market capitalization of $12.90 billion, a PE ratio of -72.71 and a beta of 1.27. The business has a 50 day simple moving average of $66.81 and a 200-day simple moving average of $56.64. Exact Sciences has a 12 month low of $40.62 and a 12 month high of $79.62.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results 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. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The firm had revenue of $699.26 million for the quarter, compared to analyst estimates of $690.02 million. During the same period last year, the company posted ($0.45) EPS. Exact Sciences’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, analysts anticipate that Exact Sciences will post -0.87 EPS for the current fiscal year.

Insider Activity

In other news, EVP Brian Baranick sold 929 shares of the stock in a transaction dated Tuesday, October 8th. 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 12,758 shares in the company, valued at $893,060. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.36% of the company’s stock.

Hedge Funds Weigh In On Exact Sciences

A number of hedge funds have recently made changes to their positions in EXAS. Vanguard Group Inc. lifted its position in shares of Exact Sciences by 1.0% during the first quarter. Vanguard Group Inc. now owns 17,740,092 shares of the medical research company’s stock worth $1,225,131,000 after purchasing an additional 180,341 shares in the last quarter. Capital World Investors grew its stake in Exact Sciences by 74.4% in the first quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock worth $899,528,000 after purchasing an additional 5,557,168 shares in the last quarter. William Blair Investment Management LLC bought a new stake in shares of Exact Sciences in the 2nd quarter valued at approximately $163,896,000. Champlain Investment Partners LLC raised its holdings in shares of Exact Sciences by 175.3% during the first quarter. Champlain Investment Partners LLC now owns 2,258,235 shares of the medical research company’s stock worth $155,954,000 after purchasing an additional 1,438,010 shares during the period. Finally, Armistice Capital LLC raised its stake in Exact Sciences by 91.6% during the second quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock worth $59,154,000 after acquiring an additional 669,438 shares during the period. Hedge funds and other 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.