10,578 Shares in Exact Sciences Co. (NASDAQ:EXAS) Bought by Parnassus Investments LLC

Parnassus Investments LLC acquired a new stake in Exact Sciences Co. (NASDAQ:EXAS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,578 shares of the medical research company’s stock, valued at approximately $594,000.

A number of other large investors also recently bought and sold shares of EXAS. Atria Investments Inc acquired a new stake in Exact Sciences in the third quarter valued at about $244,000. Axxcess Wealth Management LLC acquired a new stake in shares of Exact Sciences in the 3rd quarter valued at approximately $243,000. Huntington National Bank boosted its stake in shares of Exact Sciences by 838.1% in the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after buying an additional 352 shares in the last quarter. Curi RMB Capital LLC grew its holdings in Exact Sciences by 3.2% during the third quarter. Curi RMB Capital LLC now owns 24,468 shares of the medical research company’s stock worth $1,667,000 after acquiring an additional 754 shares during the period. Finally, Metis Global Partners LLC purchased a new position in Exact Sciences in the third quarter worth $241,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Stock Performance

Shares of EXAS opened at $45.00 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $79.62. The firm has a fifty day moving average of $51.73 and a 200-day moving average of $58.85. The company has a market cap of $8.36 billion, a price-to-earnings ratio of -8.08 and a beta of 1.25.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.23. The firm had revenue of $713.42 million during the quarter, compared to analysts’ expectations of $701.45 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. As a group, equities analysts anticipate that Exact Sciences Co. will post -0.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

EXAS has been the subject of a number of research analyst reports. Barclays cut their price target on shares of Exact Sciences from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Scotiabank lifted their price target on shares of Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a research report on Monday, February 24th. William Blair reaffirmed an “outperform” rating on shares of Exact Sciences in a research note on Thursday, February 20th. BTIG Research boosted their target price on Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Bank of America dropped their price target on Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $70.83.

Exact Sciences 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.