Exact Sciences Co. (NASDAQ:EXAS) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Exact Sciences Co. (NASDAQ:EXAS) have received a consensus recommendation of “Moderate Buy” from the fourteen analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $87.86.

Several equities analysts have recently issued reports on EXAS shares. Canaccord Genuity Group decreased their price objective on Exact Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Citigroup decreased their price objective on Exact Sciences from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Scotiabank began coverage on Exact Sciences in a research note on Thursday. They issued a “sector outperform” rating and a $70.00 price objective for the company. Jefferies Financial Group began coverage on Exact Sciences in a research note on Monday, June 3rd. They set a “buy” rating and a $75.00 target price for the company. Finally, BTIG Research decreased their target price on Exact Sciences from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday.

Insider Activity

In other news, EVP Sarah Condella sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $70.00, for a total value of $140,000.00. Following the transaction, the executive vice president now owns 71,787 shares of the company’s stock, valued at $5,025,090. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Kevin T. Conroy sold 1,155 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $60.15, for a total value of $69,473.25. Following the transaction, the chief executive officer now owns 1,156,191 shares of the company’s stock, valued at $69,544,888.65. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Sarah Condella sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $70.00, for a total value of $140,000.00. Following the completion of the transaction, the executive vice president now directly owns 71,787 shares in the company, valued at approximately $5,025,090. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,498 shares of company stock valued at $230,105. Company insiders own 1.36% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC grew its holdings in Exact Sciences by 172.0% during the third quarter. AQR Capital Management LLC now owns 328,317 shares of the medical research company’s stock worth $22,398,000 after acquiring an additional 207,623 shares during the period. Thompson Investment Management Inc. grew its holdings in Exact Sciences by 13.1% during the first quarter. Thompson Investment Management Inc. now owns 160,584 shares of the medical research company’s stock worth $11,090,000 after acquiring an additional 18,595 shares during the period. Nordea Investment Management AB grew its holdings in Exact Sciences by 1.6% during the third quarter. Nordea Investment Management AB now owns 18,858 shares of the medical research company’s stock worth $1,310,000 after acquiring an additional 293 shares during the period. Vanguard Group Inc. grew its holdings in Exact Sciences by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 17,559,751 shares of the medical research company’s stock worth $1,299,070,000 after acquiring an additional 115,058 shares during the period. Finally, New York Life Investment Management LLC grew its holdings in Exact Sciences by 5.0% during the fourth quarter. New York Life Investment Management LLC now owns 21,106 shares of the medical research company’s stock worth $1,561,000 after acquiring an additional 1,014 shares during the period. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Stock Down 5.0 %

Shares of EXAS opened at $42.25 on Friday. Exact Sciences has a 52-week low of $40.62 and a 52-week high of $100.77. The company has a market capitalization of $7.80 billion, a PE ratio of -32.01 and a beta of 1.26. The stock has a fifty day simple moving average of $50.41 and a two-hundred day simple moving average of $60.25. The company has a quick ratio of 1.45, a current ratio of 1.64 and a debt-to-equity ratio of 0.66.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Wednesday, May 8th. The medical research company reported ($0.50) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.50). The business had revenue of $637.52 million during the quarter, compared to the consensus estimate of $624.95 million. Exact Sciences had a negative return on equity of 7.12% and a negative net margin of 9.48%. As a group, equities analysts forecast that Exact Sciences will post -1.15 EPS for the current 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.