Exact Sciences (NASDAQ:EXAS) Given Buy Rating at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of Exact Sciences (NASDAQ:EXAS) in a research note published on Friday, Benzinga reports. The firm currently has a $75.00 price target on the medical research company’s stock.

Several other analysts also recently issued reports on the company. Wells Fargo & Company assumed coverage on Exact Sciences in a research report on Tuesday, August 27th. They issued an overweight rating and a $75.00 price objective on the stock. Benchmark cut their price objective on shares of Exact Sciences from $91.00 to $67.00 and set a buy rating on the stock in a report on Thursday, August 1st. Piper Sandler boosted their price target on Exact Sciences from $75.00 to $85.00 and gave the company an overweight rating in a research report on Thursday, September 12th. BTIG Research decreased their price target on shares of Exact Sciences from $80.00 to $70.00 and set a buy rating for the company in a research report on Wednesday, June 26th. Finally, The Goldman Sachs Group cut their price objective on Exact Sciences from $88.00 to $75.00 and set a buy rating on the stock in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $78.14.

Exact Sciences Trading Up 6.0 %

NASDAQ EXAS opened at $69.48 on Friday. Exact Sciences has a 52-week low of $40.62 and a 52-week high of $79.62. The firm has a 50-day moving average price of $55.37 and a 200 day moving average price of $55.52. The stock has a market capitalization of $12.84 billion, a P/E ratio of -52.64 and a beta of 1.26. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.28. The business had revenue of $699.26 million during the quarter, compared to the consensus estimate of $690.02 million. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The business’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.45) EPS. Equities research analysts expect that Exact Sciences will post -0.87 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of EXAS. Sanctuary Advisors LLC bought a new stake in shares of Exact Sciences in the 2nd quarter worth approximately $906,000. Cetera Investment Advisers lifted its stake in Exact Sciences by 52.2% in the second quarter. Cetera Investment Advisers now owns 163,841 shares of the medical research company’s stock valued at $6,922,000 after buying an additional 56,174 shares during the last quarter. Kimelman & Baird LLC acquired a new position in shares of Exact Sciences during the second quarter valued at $84,000. Creative Planning grew its position in shares of Exact Sciences by 17.6% during the second quarter. Creative Planning now owns 33,154 shares of the medical research company’s stock worth $1,401,000 after acquiring an additional 4,954 shares during the last quarter. Finally, Scientech Research LLC acquired a new stake in shares of Exact Sciences in the 2nd quarter worth about $346,000. 88.82% of the stock is 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.