Exact Sciences (NASDAQ:EXAS) Shares Gap Up – What’s Next?

Exact Sciences Corporation (NASDAQ:EXAS) gapped up prior to trading on Thursday . The stock had previously closed at $86.18, but opened at $101.63. Exact Sciences shares last traded at $101.3350, with a volume of 30,745,028 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Piper Sandler upped their price target on Exact Sciences from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Cowen reiterated a “buy” rating on shares of Exact Sciences in a research report on Tuesday, November 4th. Craig Hallum raised their target price on shares of Exact Sciences from $65.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, September 11th. TD Cowen increased their price target on shares of Exact Sciences from $74.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Finally, Stifel Nicolaus upped their target price on Exact Sciences from $67.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $74.06.

Exact Sciences Stock Performance

The stock’s 50 day moving average price is $61.01 and its 200 day moving average price is $54.79. The company has a market cap of $19.23 billion, a price-to-earnings ratio of -18.68, a P/E/G ratio of 5.56 and a beta of 1.34. The company has a current ratio of 2.89, a quick ratio of 2.56 and a debt-to-equity ratio of 0.94.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Monday, November 3rd. The medical research company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.11. The company had revenue of $850.74 million during the quarter, compared to analysts’ expectations of $810.42 million. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.21) EPS. Exact Sciences has set its FY 2025 guidance at EPS. On average, analysts expect that Exact Sciences Corporation will post -0.58 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Brian Baranick sold 2,858 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $70.08, for a total value of $200,288.64. Following the transaction, the executive vice president owned 22,368 shares of the company’s stock, valued at approximately $1,567,549.44. This trade represents a 11.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James Edward Doyle sold 2,000 shares of the company’s stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $60.00, for a total transaction of $120,000.00. Following the sale, the director directly owned 57,962 shares of the company’s stock, valued at approximately $3,477,720. This trade represents a 3.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EXAS. Y Intercept Hong Kong Ltd bought a new stake in shares of Exact Sciences during the 2nd quarter valued at about $3,716,000. Teacher Retirement System of Texas raised its position in shares of Exact Sciences by 640.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 200,397 shares of the medical research company’s stock worth $10,649,000 after purchasing an additional 173,343 shares during the period. Gagnon Securities LLC lifted its holdings in shares of Exact Sciences by 3.0% in the 2nd quarter. Gagnon Securities LLC now owns 278,789 shares of the medical research company’s stock worth $14,815,000 after purchasing an additional 8,125 shares during the last quarter. Woodline Partners LP grew its stake in Exact Sciences by 62.0% during the 1st quarter. Woodline Partners LP now owns 537,863 shares of the medical research company’s stock worth $23,284,000 after buying an additional 205,875 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG increased its position in Exact Sciences by 27.2% in the second quarter. Bank Pictet & Cie Europe AG now owns 163,204 shares of the medical research company’s stock worth $8,673,000 after buying an additional 34,914 shares during the period. Institutional investors and hedge funds own 88.82% of the company’s stock.

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.