Exact Sciences Co. (NASDAQ:EXAS) Receives $70.90 Consensus Target Price from Analysts

Shares of Exact Sciences Co. (NASDAQ:EXAS) have been given a consensus recommendation of “Moderate Buy” by the twenty-two brokerages that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, nineteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $70.90.

Several equities research analysts recently weighed in on the company. Bank of America reduced their price target on Exact Sciences from $72.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. William Blair reaffirmed an “outperform” rating on shares of Exact Sciences in a research note on Thursday, February 20th. Scotiabank upped 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. Evercore ISI upped their price target on Exact Sciences from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Finally, Robert W. Baird upped their price target on Exact Sciences from $69.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd.

Exact Sciences Price Performance

EXAS opened at $56.42 on Tuesday. 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 52-week low of $39.97 and a 52-week high of $72.83. The stock has a market capitalization of $10.64 billion, a PE ratio of -10.13 and a beta of 0.92. The stock’s 50 day moving average price is $46.37 and its 200-day moving average price is $52.19.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Woodline Partners LP lifted its holdings in shares of Exact Sciences by 62.0% during the first quarter. Woodline Partners LP now owns 537,863 shares of the medical research company’s stock valued at $23,284,000 after purchasing an additional 205,875 shares in the last quarter. Great Lakes Advisors LLC lifted its holdings in shares of Exact Sciences by 3.7% during the first quarter. Great Lakes Advisors LLC now owns 4,971 shares of the medical research company’s stock valued at $215,000 after purchasing an additional 178 shares in the last quarter. Scientech Research LLC bought a new position in shares of Exact Sciences during the first quarter valued at $915,000. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Exact Sciences by 0.8% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 22,432 shares of the medical research company’s stock valued at $971,000 after purchasing an additional 187 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Exact Sciences by 11.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,186 shares of the medical research company’s stock valued at $921,000 after purchasing an additional 2,231 shares in the last quarter. 88.82% of the stock is 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.