Exact Sciences (NASDAQ:EXAS) Price Target Raised to $73.00

Exact Sciences (NASDAQ:EXAS) had its price target boosted by Scotiabank from $70.00 to $73.00 in a research note released on Monday,Benzinga reports. Scotiabank currently has a sector outperform rating on the medical research company’s stock.

A number of other analysts have also commented on the company. Citigroup cut their price target on Exact Sciences from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Jefferies Financial Group boosted their target price on Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Stifel Nicolaus decreased their price target on shares of Exact Sciences from $82.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. TD Cowen lifted their price objective on shares of Exact Sciences from $82.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Canaccord Genuity Group reduced their target price on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $71.94.

Exact Sciences Price Performance

NASDAQ EXAS opened at $48.50 on Monday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15. Exact Sciences has a 52-week low of $40.62 and a 52-week high of $79.62. The business has a 50 day simple moving average of $54.34 and a 200 day simple moving average of $59.87. The stock has a market cap of $9.01 billion, a price-to-earnings ratio of -8.71 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.23. The company had revenue of $713.42 million during the quarter, compared to the consensus estimate of $701.45 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. Analysts anticipate that Exact Sciences will post -0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Exact Sciences

Several hedge funds have recently added to or reduced their stakes in EXAS. Huntington National Bank raised its position in shares of Exact Sciences by 838.1% in the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 352 shares during the period. RPg Family Wealth Advisory LLC bought a new position in Exact Sciences in the 3rd quarter valued at about $34,000. Capital Performance Advisors LLP bought a new position in Exact Sciences in the 3rd quarter valued at about $35,000. Asset Planning Inc acquired a new stake in Exact Sciences during the fourth quarter worth approximately $40,000. Finally, Modus Advisors LLC bought a new stake in shares of Exact Sciences during the fourth quarter worth approximately $43,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

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.