Exact Sciences Co. (NASDAQ:EXAS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Exact Sciences Co. (NASDAQ:EXAS) has earned an average recommendation of “Moderate Buy” from the nineteen brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $71.94.

Several research analysts have recently weighed in on the stock. Stifel Nicolaus decreased their price objective on shares of Exact Sciences from $82.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Robert W. Baird dropped their price target on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Jefferies Financial Group upped their price target on shares of Exact Sciences from $84.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Evercore ISI dropped their price target on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Finally, Piper Sandler dropped their target price on shares of Exact Sciences from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th.

Institutional Investors Weigh In On Exact Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in EXAS. Price T Rowe Associates Inc. MD raised its stake in shares of Exact Sciences by 74.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,760,241 shares of the medical research company’s stock valued at $323,669,000 after acquiring an additional 2,462,165 shares during the period. Capital World Investors raised its stake in shares of Exact Sciences by 10.7% in the fourth quarter. Capital World Investors now owns 17,537,617 shares of the medical research company’s stock valued at $985,439,000 after acquiring an additional 1,696,321 shares during the period. Mackenzie Financial Corp raised its stake in shares of Exact Sciences by 107.7% in the fourth quarter. Mackenzie Financial Corp now owns 2,919,325 shares of the medical research company’s stock valued at $164,037,000 after acquiring an additional 1,513,873 shares during the period. Groupama Asset Managment purchased a new stake in shares of Exact Sciences in the third quarter valued at $821,000. Finally, Norges Bank purchased a new stake in shares of Exact Sciences in the fourth quarter valued at $50,625,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Stock Up 0.3 %

EXAS opened at $47.55 on Thursday. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97. The firm has a 50 day moving average price of $53.71 and a 200-day moving average price of $59.67. Exact Sciences has a twelve month low of $40.62 and a twelve month high of $79.62. The stock has a market capitalization of $8.83 billion, a price-to-earnings ratio of -8.54 and a beta of 1.24.

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 the consensus estimate of ($0.29) by $0.23. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The firm had revenue of $713.42 million during the quarter, compared to analysts’ expectations of $701.45 million. Equities research analysts forecast that Exact Sciences will post -0.58 earnings per share 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.