EXACT Sciences (NASDAQ:EXAS) Raised to Buy at ValuEngine

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EXACT Sciences (NASDAQ:EXAS) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, ValuEngine reports.

Other analysts have also recently issued reports about the stock. Citigroup initiated coverage on shares of EXACT Sciences in a research note on Monday, January 6th. They set a “buy” rating and a $120.00 price target on the stock. BidaskClub raised shares of EXACT Sciences from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Zacks Investment Research cut shares of EXACT Sciences from a “buy” rating to a “hold” rating and set a $92.00 price target on the stock. in a research note on Tuesday, January 21st. Bank of America reissued a “buy” rating and set a $135.00 price target on shares of EXACT Sciences in a research note on Thursday, October 31st. Finally, BTIG Research initiated coverage on shares of EXACT Sciences in a research note on Friday, January 10th. They set a “buy” rating and a $127.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $121.00.

EXAS opened at $98.18 on Friday. EXACT Sciences has a one year low of $75.35 and a one year high of $123.99. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.75 and a quick ratio of 2.63. The company’s 50 day simple moving average is $94.13 and its 200-day simple moving average is $97.43. The stock has a market capitalization of $12.58 billion, a P/E ratio of -57.41 and a beta of 1.36.

EXACT Sciences (NASDAQ:EXAS) last released its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.91. EXACT Sciences had a negative net margin of 29.83% and a negative return on equity of 29.06%. The business had revenue of $295.58 million for the quarter, compared to analysts’ expectations of $294.39 million. As a group, analysts anticipate that EXACT Sciences will post -1.64 EPS for the current year.

In related news, insider G Bradley Cole sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $90.30, for a total value of $903,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 2.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in EXAS. Jennison Associates LLC raised its holdings in EXACT Sciences by 3.7% in the fourth quarter. Jennison Associates LLC now owns 5,626,999 shares of the medical research company’s stock worth $520,385,000 after purchasing an additional 202,478 shares during the period. Artisan Partners Limited Partnership raised its holdings in EXACT Sciences by 20.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,191,714 shares of the medical research company’s stock worth $202,690,000 after purchasing an additional 375,796 shares during the period. Victory Capital Management Inc. raised its holdings in EXACT Sciences by 4.9% in the fourth quarter. Victory Capital Management Inc. now owns 1,600,194 shares of the medical research company’s stock worth $147,986,000 after purchasing an additional 74,316 shares during the period. Blair William & Co. IL raised its holdings in EXACT Sciences by 18.1% in the fourth quarter. Blair William & Co. IL now owns 1,042,541 shares of the medical research company’s stock worth $96,414,000 after purchasing an additional 159,812 shares during the period. Finally, Baillie Gifford & Co. raised its holdings in EXACT Sciences by 16.8% in the fourth quarter. Baillie Gifford & Co. now owns 720,494 shares of the medical research company’s stock worth $66,630,000 after purchasing an additional 103,524 shares during the period. Institutional investors and hedge funds own 87.01% of the company’s stock.

About EXACT Sciences

Exact Sciences Corporation, a molecular diagnostics company, focuses on developing products for the early detection and prevention of various cancers in the United States. The company offers Cologuard, a non-invasive stool-based DNA screening test for the early detection of colorectal cancer and pre-cancer.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for EXACT Sciences (NASDAQ:EXAS)

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