Exact Sciences Co. (NASDAQ:EXAS) Receives Average Recommendation of “Moderate Buy” from Analysts

Exact Sciences Co. (NASDAQ:EXAS) has been assigned a consensus rating of “Moderate Buy” from the twenty-two analysts that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, nineteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $70.90.

A number of analysts have recently issued reports on EXAS shares. William Blair reissued an “outperform” rating on shares of Exact Sciences in a research note on Thursday, February 20th. Scotiabank increased their price objective on shares of Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a research report on Monday, February 24th. Evercore ISI increased their target price on shares of Exact Sciences from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Barclays raised their price target on shares of Exact Sciences from $55.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Finally, Royal Bank of Canada raised their target price on shares of Exact Sciences from $52.00 to $54.00 and gave the company a “sector perform” rating in a research report on Friday, May 2nd.

Institutional Trading of Exact Sciences

Several institutional investors and hedge funds have recently bought and sold shares of EXAS. Price T Rowe Associates Inc. MD lifted its stake in Exact Sciences by 74.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,760,241 shares of the medical research company’s stock valued at $323,669,000 after acquiring an additional 2,462,165 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Exact Sciences by 120.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,128,958 shares of the medical research company’s stock valued at $135,453,000 after purchasing an additional 1,707,287 shares during the period. Capital World Investors lifted its stake in shares of 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 purchasing an additional 1,696,321 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Exact Sciences by 107.7% in the 4th quarter. Mackenzie Financial Corp now owns 2,919,325 shares of the medical research company’s stock valued at $164,037,000 after purchasing an additional 1,513,873 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Exact Sciences in the 1st quarter valued at $45,334,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Exact Sciences Trading Down 0.9%

Shares of NASDAQ EXAS opened at $55.66 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. The firm’s 50 day moving average price is $50.53 and its 200-day moving average price is $52.22. Exact Sciences has a 52-week low of $39.97 and a 52-week high of $72.83. The company has a market cap of $10.50 billion, a PE ratio of -9.99 and a beta of 0.98.

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

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.