Exact Sciences Corporation (NASDAQ:EXAS) Receives $68.05 Average Price Target from Analysts

Shares of Exact Sciences Corporation (NASDAQ:EXAS) have been given a consensus recommendation of “Moderate Buy” by the twenty-four analysts that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, nineteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $68.05.

Several brokerages have weighed in on EXAS. Piper Sandler cut their price target on Exact Sciences from $70.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, August 11th. Royal Bank Of Canada cut their price target on shares of Exact Sciences from $54.00 to $46.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 7th. Zacks Research downgraded shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Evercore ISI cut their price target on shares of Exact Sciences from $68.00 to $64.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Finally, UBS Group cut their price target on shares of Exact Sciences from $61.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th.

Insiders Place Their Bets

In other Exact Sciences news, Director James Edward Doyle sold 1,485 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $42.02, for a total transaction of $62,399.70. Following the transaction, the director owned 59,962 shares of the company’s stock, valued at $2,519,603.24. This trade represents a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Exact Sciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank Pictet & Cie Europe AG increased its holdings in Exact Sciences by 1.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 129,024 shares of the medical research company’s stock valued at $7,250,000 after purchasing an additional 1,547 shares in the last quarter. Focus Partners Wealth increased its holdings in Exact Sciences by 20.1% in the 4th quarter. Focus Partners Wealth now owns 19,135 shares of the medical research company’s stock valued at $1,085,000 after purchasing an additional 3,201 shares in the last quarter. Quantinno Capital Management LP increased its holdings in Exact Sciences by 205.4% in the 4th quarter. Quantinno Capital Management LP now owns 9,991 shares of the medical research company’s stock valued at $561,000 after purchasing an additional 6,720 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Exact Sciences in the 4th quarter valued at $45,000. Finally, Raiffeisen Bank International AG acquired a new stake in Exact Sciences in the 4th quarter valued at $149,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Price Performance

Shares of NASDAQ:EXAS opened at $53.32 on Monday. The company has a 50-day simple moving average of $48.85 and a 200-day simple moving average of $49.46. Exact Sciences has a one year low of $38.81 and a one year high of $72.83. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.56 and a current ratio of 2.89. The stock has a market capitalization of $10.09 billion, a price-to-earnings ratio of -9.82, a PEG ratio of 4.95 and a beta of 1.05.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Wednesday, August 6th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.24. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The firm had revenue of $811.09 million during the quarter, compared to analysts’ expectations of $774.43 million. During the same period in the prior year, the company posted ($0.09) earnings per share. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, analysts predict that Exact Sciences will post -0.58 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.