Exact Sciences Corporation (NASDAQ:EXAS) Receives $69.19 Consensus PT from Analysts

Exact Sciences Corporation (NASDAQ:EXAS) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-four ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, nineteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $69.1905.

A number of equities research analysts recently commented on EXAS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Exact Sciences in a report on Wednesday, October 8th. Evercore ISI lifted their target price on Exact Sciences from $64.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Wells Fargo & Company set a $68.00 target price on Exact Sciences in a report on Wednesday, October 1st. BTIG Research decreased their target price on Exact Sciences from $65.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, August 12th. Finally, Cowen reaffirmed a “buy” rating on shares of Exact Sciences in a report on Thursday, August 7th.

Exact Sciences Stock Performance

Shares of EXAS stock opened at $58.34 on Friday. The business has a fifty day moving average of $50.68 and a 200 day moving average of $50.58. Exact Sciences has a 1 year low of $38.81 and a 1 year high of $72.83. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.89 and a quick ratio of 2.56. The firm has a market capitalization of $11.04 billion, a price-to-earnings ratio of -10.74, a price-to-earnings-growth ratio of 5.39 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Wednesday, August 6th. The medical research company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.24. Exact Sciences had a negative return on equity of 1.75% and a negative net margin of 34.19%.The business had revenue of $811.09 million for the quarter, compared to analyst estimates of $774.43 million. During the same period in the prior year, the company earned ($0.09) earnings per share. The company’s revenue was up 16.0% on a year-over-year basis. As a group, research analysts expect that Exact Sciences will post -0.58 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director James Edward Doyle sold 2,000 shares of Exact Sciences stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $60.00, for a total transaction of $120,000.00. Following the completion of the transaction, the director directly owned 57,962 shares in the company, valued at approximately $3,477,720. This trade represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. True Wealth Design LLC raised its position in Exact Sciences by 951.8% during the second quarter. True Wealth Design LLC now owns 589 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 533 shares in the last quarter. Country Trust Bank purchased a new position in Exact Sciences during the second quarter valued at approximately $32,000. Larson Financial Group LLC raised its position in Exact Sciences by 2,804.8% during the first quarter. Larson Financial Group LLC now owns 610 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 589 shares in the last quarter. Bessemer Group Inc. raised its position in Exact Sciences by 1,980.6% during the second quarter. Bessemer Group Inc. now owns 645 shares of the medical research company’s stock valued at $34,000 after acquiring an additional 614 shares in the last quarter. Finally, National Pension Service raised its position in Exact Sciences by 75.1% during the first quarter. National Pension Service now owns 681 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 292 shares in the last quarter. 88.82% of the stock is currently owned by hedge funds and other 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.