Exact Sciences (NASDAQ:EXAS) Stock Price Expected to Rise, Barclays Analyst Says

Exact Sciences (NASDAQ:EXAS) had its price objective boosted by analysts at Barclays from $55.00 to $75.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the medical research company’s stock. Barclays‘s price objective suggests a potential upside of 45.49% from the company’s current price.

Several other research analysts also recently weighed in on EXAS. Piper Sandler cut their price target on Exact Sciences from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Royal Bank of Canada increased their target price on Exact Sciences from $52.00 to $54.00 and gave the stock a “sector perform” rating in a research report on Friday. Scotiabank raised their price target on Exact Sciences from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 24th. Robert W. Baird increased their price objective on shares of Exact Sciences from $69.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Evercore ISI boosted their target price on shares of Exact Sciences from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Exact Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $70.90.

Exact Sciences Stock Performance

Exact Sciences stock opened at $51.55 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 has a fifty-two week low of $39.97 and a fifty-two week high of $72.83. The stock has a fifty day moving average of $45.02 and a two-hundred day moving average of $53.31. The company has a market capitalization of $9.72 billion, a price-to-earnings ratio of -9.25 and a beta of 0.92.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Thursday, May 1st. The medical research company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.16. The firm had revenue of $706.79 million during the quarter, compared to the consensus estimate of $688.58 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.60) EPS. On average, analysts anticipate that Exact Sciences will post -0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Exact Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Grandfield & Dodd LLC grew its stake in shares of Exact Sciences by 3.5% during the first quarter. Grandfield & Dodd LLC now owns 112,760 shares of the medical research company’s stock valued at $4,881,000 after acquiring an additional 3,799 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Exact Sciences by 2,804.8% in the first quarter. Larson Financial Group LLC now owns 610 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 589 shares during the last quarter. CWM LLC grew its stake in Exact Sciences by 41.2% during the 1st quarter. CWM LLC now owns 21,316 shares of the medical research company’s stock valued at $923,000 after purchasing an additional 6,217 shares in the last quarter. High Note Wealth LLC increased its holdings in Exact Sciences by 225.5% during the 1st quarter. High Note Wealth LLC now owns 10,710 shares of the medical research company’s stock worth $464,000 after purchasing an additional 7,420 shares during the last quarter. Finally, Xponance Inc. raised its position in shares of Exact Sciences by 4.0% in the 1st quarter. Xponance Inc. now owns 24,972 shares of the medical research company’s stock valued at $1,081,000 after purchasing an additional 959 shares in the last quarter. 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.