Exact Sciences (NASDAQ:EXAS) Price Target Raised to $90.00 at TD Cowen

Exact Sciences (NASDAQ:EXAS) had its price objective raised by stock analysts at TD Cowen from $74.00 to $90.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. TD Cowen’s price objective points to a potential upside of 30.57% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. Robert W. Baird increased their price objective on shares of Exact Sciences from $72.00 to $88.00 and gave the stock an “outperform” rating in a report on Tuesday. Craig Hallum raised their target price on shares of Exact Sciences from $65.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, September 11th. Wells Fargo & Company set a $68.00 target price on shares of Exact Sciences in a research note on Wednesday, October 1st. Stifel Nicolaus raised their target price on shares of Exact Sciences from $67.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Benchmark raised their target price on shares of Exact Sciences from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Exact Sciences presently has an average rating of “Moderate Buy” and a consensus target price of $72.90.

Exact Sciences Stock Performance

Shares of EXAS stock traded up $1.95 during trading hours on Tuesday, reaching $68.93. The stock had a trading volume of 6,114,916 shares, compared to its average volume of 2,730,962. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.89 and a quick ratio of 2.56. Exact Sciences has a twelve month low of $38.81 and a twelve month high of $72.83. The firm has a 50-day simple moving average of $56.38 and a 200-day simple moving average of $52.83. The firm has a market capitalization of $13.05 billion, a PE ratio of -12.70, a price-to-earnings-growth ratio of 5.56 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Monday, November 3rd. The medical research company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $850.74 million for the quarter, compared to analysts’ expectations of $810.42 million. During the same quarter last year, the company earned ($0.21) EPS. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. Exact Sciences has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Exact Sciences will post -0.58 earnings per share for the current year.

Insider Activity at Exact Sciences

In other Exact Sciences news, Director James Edward Doyle sold 2,000 shares of the firm’s stock in a transaction dated 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 transaction, the director directly owned 57,962 shares in the company, valued at $3,477,720. This trade represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. True Wealth Design LLC boosted its holdings in shares of Exact Sciences by 951.8% during the second quarter. True Wealth Design LLC now owns 589 shares of the medical research company’s stock worth $31,000 after purchasing an additional 533 shares during the period. Country Trust Bank acquired a new stake in shares of Exact Sciences during the second quarter worth approximately $32,000. Larson Financial Group LLC boosted 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 period. Bessemer Group Inc. boosted its holdings in shares of Exact Sciences by 1,980.6% during the second quarter. Bessemer Group Inc. now owns 645 shares of the medical research company’s stock worth $34,000 after purchasing an additional 614 shares during the period. Finally, National Pension Service boosted its holdings in shares of 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 period. 88.82% of the stock is currently owned by institutional investors and hedge funds.

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.