Exact Sciences Co. (NASDAQ:EXAS) Given Average Recommendation of “Moderate Buy” by Analysts

Exact Sciences Co. (NASDAQ:EXAS) has earned an average recommendation of “Moderate Buy” from the twenty-two brokerages that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $69.25.

Several brokerages have issued reports on EXAS. Guggenheim restated a “buy” rating and set a $60.00 price objective on shares of Exact Sciences in a research report on Friday, April 11th. Barclays dropped their price target on Exact Sciences from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Mizuho began coverage on Exact Sciences in a report on Thursday, April 10th. They issued an “outperform” rating and a $60.00 price objective on the stock. Piper Sandler dropped their target price on Exact Sciences from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Royal Bank of Canada began coverage on shares of Exact Sciences in a research report on Thursday, March 13th. They issued a “sector perform” rating and a $52.00 target price for the company.

Hedge Funds Weigh In On Exact Sciences

A number of institutional investors have recently modified their holdings of the business. Asset Planning Inc bought a new position in Exact Sciences in the fourth quarter valued at about $40,000. Modus Advisors LLC acquired a new stake in shares of Exact Sciences in the 4th quarter valued at approximately $43,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Exact Sciences during the 4th quarter valued at approximately $45,000. AlphaQuest LLC increased its position in Exact Sciences by 22,825.0% during the 4th quarter. AlphaQuest LLC now owns 917 shares of the medical research company’s stock worth $52,000 after purchasing an additional 913 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Exact Sciences in the 4th quarter valued at approximately $66,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Stock Performance

Shares of NASDAQ EXAS opened at $44.15 on Friday. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $8.20 billion, a P/E ratio of -7.93 and a beta of 1.14. Exact Sciences has a 12 month low of $39.97 and a 12 month high of $72.83. The stock has a 50 day moving average of $45.60 and a 200-day moving average of $54.62.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.23. The firm had revenue of $713.42 million during the quarter, compared to analysts’ expectations of $701.45 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. As a group, equities research 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.