Exact Sciences (NASDAQ:EXAS) Rating Increased to Strong-Buy at Mizuho

Exact Sciences (NASDAQ:EXAS) was upgraded by analysts at Mizuho to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

EXAS has been the topic of a number of other research reports. Bank of America decreased their price objective on shares of Exact Sciences from $72.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Barclays reduced their price target on Exact Sciences from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday. Piper Sandler lowered their price target on Exact Sciences from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Scotiabank lifted their price objective on Exact Sciences from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 24th. Finally, Benchmark restated a “buy” rating and set a $65.00 target price on shares of Exact Sciences in a report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.25.

Exact Sciences Trading Down 1.9 %

EXAS stock traded down $0.85 during trading on Wednesday, hitting $42.89. 98,586 shares of the company traded hands, compared to its average volume of 2,607,278. The company has a 50-day moving average of $47.15 and a 200-day moving average of $55.97. 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 has a 1 year low of $39.97 and a 1 year high of $73.10. The firm has a market capitalization of $7.97 billion, a PE ratio of -7.71 and a beta of 1.14.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.23. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. The firm had revenue of $713.42 million during the quarter, compared to analyst estimates of $701.45 million. Analysts predict that Exact Sciences will post -0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Exact Sciences

Several institutional investors and hedge funds have recently modified their holdings of the stock. Asset Planning Inc bought a new position in Exact Sciences in the 4th quarter worth about $40,000. Modus Advisors LLC bought a new position in shares of Exact Sciences in the fourth quarter worth approximately $43,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Exact Sciences during the fourth quarter valued at approximately $45,000. AlphaQuest LLC increased its position in shares of Exact Sciences by 22,825.0% during the fourth quarter. AlphaQuest LLC now owns 917 shares of the medical research company’s stock valued at $52,000 after acquiring an additional 913 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Exact Sciences during the fourth quarter valued at approximately $66,000. 88.82% of the stock is currently owned by institutional investors.

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.