Evercore ISI Issues Positive Forecast for Exact Sciences (NASDAQ:EXAS) Stock Price

Exact Sciences (NASDAQ:EXAS) had its target price upped by Evercore ISI from $66.00 to $68.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the medical research company’s stock.

A number of other brokerages have also issued reports on EXAS. Royal Bank Of Canada raised their target price on shares of Exact Sciences from $52.00 to $54.00 and gave the stock a “sector perform” rating in a research report on Friday, May 2nd. Guggenheim reaffirmed a “buy” rating and set a $60.00 price target on shares of Exact Sciences in a report on Friday, April 11th. Mizuho assumed coverage on Exact Sciences in a report on Thursday, April 10th. They set an “outperform” rating and a $60.00 price target for the company. Barclays decreased their price target on Exact Sciences from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday, June 24th. Finally, Robert W. Baird increased their price target on Exact Sciences from $69.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.50.

Exact Sciences Stock Performance

Shares of Exact Sciences stock opened at $53.54 on Tuesday. The firm has a market capitalization of $10.10 billion, a P/E ratio of -9.72, a P/E/G ratio of 11.21 and a beta of 0.95. Exact Sciences has a 52 week low of $39.97 and a 52 week high of $72.83. The company has a quick ratio of 2.38, a current ratio of 2.73 and a debt-to-equity ratio of 0.97. The firm’s 50 day moving average is $54.04 and its two-hundred day moving average is $51.12.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Thursday, May 1st. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.16. The business had revenue of $706.79 million for the quarter, compared to analyst estimates of $688.58 million. Exact Sciences had a negative net margin of 36.06% and a negative return on equity of 3.75%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.60) earnings per share. Research analysts forecast that Exact Sciences will post -0.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Exact Sciences news, Director Katherine S. Zanotti sold 3,207 shares of the firm’s stock in a transaction on Friday, June 13th. The stock was sold at an average price of $53.20, for a total value of $170,612.40. Following the completion of the sale, the director owned 72,759 shares of the company’s stock, valued at approximately $3,870,778.80. This trade represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Exact Sciences by 3.6% in the first quarter. Vanguard Group Inc. now owns 17,637,674 shares of the medical research company’s stock valued at $763,535,000 after buying an additional 617,384 shares in the last quarter. Capital World Investors grew its holdings in Exact Sciences by 10.7% in the 4th quarter. Capital World Investors now owns 17,537,617 shares of the medical research company’s stock valued at $985,439,000 after buying an additional 1,696,321 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Exact Sciences by 11.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,403,872 shares of the medical research company’s stock valued at $277,225,000 after buying an additional 643,631 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in shares of Exact Sciences by 25.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,269,823 shares of the medical research company’s stock worth $239,922,000 after purchasing an additional 876,985 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in shares of Exact Sciences by 12.4% during the 1st quarter. Mackenzie Financial Corp now owns 3,281,639 shares of the medical research company’s stock worth $142,062,000 after purchasing an additional 362,314 shares during the period. Hedge funds and other institutional investors own 88.82% of the company’s stock.

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.