Exact Sciences (NASDAQ:EXAS) Posts Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Exact Sciences (NASDAQ:EXAS) announced its quarterly earnings results on Monday. The medical research company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.14, Zacks reports. Exact Sciences had a negative return on equity of 1.75% and a negative net margin of 34.19%. Exact Sciences updated its FY 2025 guidance to EPS.

Exact Sciences Price Performance

EXAS traded up $2.29 on Monday, reaching $66.98. The company had a trading volume of 6,301,387 shares, compared to its average volume of 2,716,071. The company has a market capitalization of $12.68 billion, a P/E ratio of -12.34, a PEG ratio of 5.56 and a beta of 1.24. The company has a current ratio of 2.89, a quick ratio of 2.56 and a debt-to-equity ratio of 0.94. The company has a fifty day moving average of $55.95 and a 200-day moving average of $52.65. Exact Sciences has a one year low of $38.81 and a one year high of $72.83.

Analysts Set New Price Targets

Several brokerages have weighed in on EXAS. BTIG Research increased their target price on Exact Sciences from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Evercore ISI increased their price objective on shares of Exact Sciences from $64.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Piper Sandler boosted their target price on shares of Exact Sciences from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Barclays upped their target price on shares of Exact Sciences from $55.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Finally, Wall Street Zen raised Exact Sciences from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.90.

Insider Buying and Selling at Exact Sciences

In other news, Director James Edward Doyle sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $60.00, for a total value of $120,000.00. Following the completion of the sale, the director directly owned 57,962 shares of the company’s stock, valued at approximately $3,477,720. This represents a 3.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Exact Sciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in Exact Sciences by 73.3% in the second quarter. AQR Capital Management LLC now owns 1,753,283 shares of the medical research company’s stock worth $93,169,000 after purchasing an additional 741,517 shares during the period. Vestal Point Capital LP bought a new stake in shares of Exact Sciences in the 2nd quarter worth $37,198,000. Meridiem Capital Partners LP bought a new stake in shares of Exact Sciences in the 2nd quarter worth $20,322,000. Sofinnova Investments Inc. acquired a new stake in shares of Exact Sciences in the second quarter valued at $11,069,000. Finally, Cubist Systematic Strategies LLC bought a new position in Exact Sciences during the second quarter valued at about $8,245,000. 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.