Exact Sciences Co. (NASDAQ:EXAS) Receives $97.44 Average Target Price from Analysts

Shares of Exact Sciences Co. (NASDAQ:EXAS) have been given a consensus recommendation of “Moderate Buy” by the thirteen brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $99.07.

A number of research analysts recently commented on the company. William Blair reissued an “outperform” rating on shares of Exact Sciences in a research note on Thursday, February 22nd. TheStreet lowered Exact Sciences from a “c-” rating to a “d+” rating in a research report on Monday, February 26th. Citigroup restated a “buy” rating and issued a $100.00 target price on shares of Exact Sciences in a research report on Wednesday, April 3rd. Finally, Canaccord Genuity Group decreased their price target on shares of Exact Sciences from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd.

Exact Sciences Stock Performance

Shares of EXAS opened at $61.41 on Friday. The company has a current ratio of 2.32, a quick ratio of 2.07 and a debt-to-equity ratio of 0.74. The stock has a 50-day moving average price of $63.58 and a 200-day moving average price of $64.69. The company has a market cap of $11.29 billion, a PE ratio of -53.87 and a beta of 1.26. Exact Sciences has a 12-month low of $56.05 and a 12-month high of $100.77.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.26. The business had revenue of $646.89 million during the quarter, compared to analyst estimates of $638.83 million. Exact Sciences had a negative net margin of 8.17% and a negative return on equity of 6.60%. Exact Sciences’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.72) earnings per share. As a group, equities analysts forecast that Exact Sciences will post -0.86 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Kevin T. Conroy sold 14,791 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $61.43, for a total value of $908,611.13. Following the sale, the chief executive officer now directly owns 1,224,357 shares of the company’s stock, valued at $75,212,250.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Exact Sciences news, insider Jacob A. Orville sold 966 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total value of $59,341.38. Following the completion of the transaction, the insider now directly owns 7,488 shares in the company, valued at approximately $459,987.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kevin T. Conroy sold 14,791 shares of Exact Sciences stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $61.43, for a total transaction of $908,611.13. Following the sale, the chief executive officer now directly owns 1,224,357 shares in the company, valued at approximately $75,212,250.51. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,611 shares of company stock valued at $4,255,377. Insiders own 1.30% of the company’s stock.

Institutional Trading of Exact Sciences

Several institutional investors and hedge funds have recently bought and sold shares of EXAS. Asahi Life Asset Management CO. LTD. lifted its stake in shares of Exact Sciences by 4.2% in the 4th quarter. Asahi Life Asset Management CO. LTD. now owns 4,390 shares of the medical research company’s stock valued at $325,000 after purchasing an additional 175 shares during the period. Perigon Wealth Management LLC raised its holdings in Exact Sciences by 2.1% in the first quarter. Perigon Wealth Management LLC now owns 8,516 shares of the medical research company’s stock worth $588,000 after purchasing an additional 175 shares in the last quarter. Valley National Advisers Inc. lifted its position in Exact Sciences by 29.5% during the third quarter. Valley National Advisers Inc. now owns 773 shares of the medical research company’s stock valued at $53,000 after buying an additional 176 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Exact Sciences by 65.6% during the 1st 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. Finally, Cullen Frost Bankers Inc. grew its position in shares of Exact Sciences by 40.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 700 shares of the medical research company’s stock worth $48,000 after buying an additional 200 shares during the period. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

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.