IFP Advisors Inc Buys 39,067 Shares of Exact Sciences Co. (NASDAQ:EXAS)

IFP Advisors Inc grew its stake in shares of Exact Sciences Co. (NASDAQ:EXAS) by 12,363.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,383 shares of the medical research company’s stock after buying an additional 39,067 shares during the period. IFP Advisors Inc’s holdings in Exact Sciences were worth $2,214,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Thompson Investment Management Inc. increased its position in shares of Exact Sciences by 17.8% during the fourth quarter. Thompson Investment Management Inc. now owns 241,774 shares of the medical research company’s stock valued at $13,585,000 after buying an additional 36,505 shares during the period. WCM Investment Management LLC increased its position in shares of Exact Sciences by 1,153.2% in the third quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company’s stock worth $12,388,000 after purchasing an additional 172,821 shares during the last quarter. Simplify Asset Management Inc. increased its position in shares of Exact Sciences by 67.5% in the third quarter. Simplify Asset Management Inc. now owns 29,277 shares of the medical research company’s stock worth $1,994,000 after purchasing an additional 11,800 shares during the last quarter. Zacks Investment Management bought a new position in shares of Exact Sciences in the third quarter worth approximately $2,083,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Exact Sciences by 59.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 335,705 shares of the medical research company’s stock worth $22,868,000 after purchasing an additional 125,192 shares during the last quarter. 88.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on EXAS. William Blair restated an “outperform” rating on shares of Exact Sciences in a research report on Thursday, February 20th. Stifel Nicolaus decreased their price objective on shares of Exact Sciences from $82.00 to $67.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Bank of America decreased their price objective on shares of Exact Sciences from $72.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Evercore ISI decreased their price objective on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, Scotiabank upped their target price on Exact Sciences from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a research note on Monday. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $72.24.

Exact Sciences Stock Performance

NASDAQ:EXAS opened at $50.18 on Wednesday. The firm has a market cap of $9.32 billion, a PE ratio of -9.01 and a beta of 1.24. Exact Sciences Co. has a fifty-two week low of $40.62 and a fifty-two week high of $79.62. 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 business has a 50 day moving average price of $54.52 and a 200-day moving average price of $59.95.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.23. The firm had revenue of $713.42 million during the quarter, compared to analyst estimates of $701.45 million. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. Equities research analysts predict that Exact Sciences Co. will post -0.58 earnings per share for the current year.

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.