Exact Sciences (NASDAQ:EXAS) Price Target Raised to $85.00

Exact Sciences (NASDAQ:EXAS) had its price target raised by Wells Fargo & Company from $68.00 to $85.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the medical research company’s stock.

Other equities analysts have also issued research reports about the stock. Wall Street Zen raised shares of Exact Sciences from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Craig Hallum increased their price target on shares of Exact Sciences from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, September 11th. Cowen restated a “buy” rating on shares of Exact Sciences in a report on Tuesday. TD Cowen increased their target price on shares of Exact Sciences from $74.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Zacks Research upgraded shares of Exact Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Exact Sciences currently has an average rating of “Moderate Buy” and an average price target of $73.44.

Exact Sciences Stock Performance

Exact Sciences stock traded down $1.04 during mid-day trading on Wednesday, reaching $66.18. 3,006,188 shares of the company’s stock were exchanged, compared to its average volume of 2,753,223. Exact Sciences has a one year low of $38.81 and a one year high of $72.81. The business’s fifty day simple moving average is $58.09 and its 200 day simple moving average is $53.40. The company has a quick ratio of 2.56, a current ratio of 2.89 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $12.53 billion, a PE ratio of -12.19, a P/E/G ratio of 5.56 and a beta of 1.34.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Monday, November 3rd. The medical research company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.11. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The firm had revenue of $850.74 million during the quarter, compared to the consensus estimate of $810.42 million. During the same quarter last year, the company earned ($0.21) earnings per share. The company’s revenue was up 20.0% on a year-over-year basis. Exact Sciences has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Exact Sciences will post -0.58 earnings per share for the current year.

Insider Buying and Selling

In other Exact Sciences news, EVP Brian Baranick sold 2,858 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $70.08, for a total transaction of $200,288.64. Following the completion of the sale, the executive vice president directly owned 22,368 shares in the company, valued at approximately $1,567,549.44. The trade was a 11.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Edward Doyle sold 2,000 shares of the firm’s stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $60.00, for a total value of $120,000.00. Following the completion of the transaction, the director directly owned 57,962 shares in the company, valued at $3,477,720. The trade was a 3.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 6,343 shares of company stock valued at $382,688 over the last quarter. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Exact Sciences

Several hedge funds have recently modified their holdings of the company. Larson Financial Group LLC raised its holdings in shares of 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 worth $26,000 after purchasing an additional 589 shares during the last quarter. National Pension Service increased 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 worth $29,000 after purchasing an additional 292 shares during the last quarter. SVB Wealth LLC purchased a new stake in Exact Sciences in the 1st quarter valued at about $30,000. True Wealth Design LLC lifted its holdings in shares of Exact Sciences by 951.8% in the 2nd quarter. True Wealth Design LLC now owns 589 shares of the medical research company’s stock worth $31,000 after acquiring an additional 533 shares during the last quarter. Finally, Westside Investment Management Inc. boosted its position in shares of Exact Sciences by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 542 shares of the medical research company’s stock worth $31,000 after purchasing an additional 271 shares during the period. 88.82% of the stock is owned by hedge funds and other institutional investors.

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.