Exact Sciences (NASDAQ:EXAS) Receives “Neutral” Rating from BTIG Research

Exact Sciences (NASDAQ:EXAS)‘s stock had its “neutral” rating restated by equities researchers at BTIG Research in a note issued to investors on Tuesday,Benzinga reports.

A number of other equities research analysts also recently weighed in on EXAS. Zacks Research downgraded Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. TD Cowen downgraded Exact Sciences from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Benchmark lowered Exact Sciences from a “buy” rating to a “hold” rating in a research note on Monday, November 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Exact Sciences in a research report on Thursday, January 22nd. Finally, Piper Sandler downgraded Exact Sciences from an “overweight” rating to a “hold” rating and set a $105.00 target price for the company. in a research note on Monday, November 24th. Twenty-one research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $92.13.

Exact Sciences Stock Up 1.0%

EXAS stock opened at $104.91 on Tuesday. Exact Sciences has a fifty-two week low of $38.81 and a fifty-two week high of $104.98. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.43 and a quick ratio of 2.17. The stock has a market capitalization of $20.03 billion, a price-to-earnings ratio of -95.37, a PEG ratio of 2.39 and a beta of 1.41. The business’s fifty day moving average price is $103.11 and its two-hundred day moving average price is $86.48.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings results on Friday, February 13th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.29). The business had revenue of $878.38 million during the quarter, compared to analyst estimates of $860.59 million. Exact Sciences had a negative net margin of 6.40% and a positive return on equity of 0.53%. The firm’s quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. On average, equities analysts anticipate that Exact Sciences will post -0.58 earnings per share for the current year.

Institutional Investors Weigh In On Exact Sciences

Several hedge funds have recently added to or reduced their stakes in EXAS. V Square Quantitative Management LLC bought a new stake in Exact Sciences during the 4th quarter worth approximately $26,000. Torren Management LLC bought a new position in shares of Exact Sciences during the fourth quarter valued at $27,000. Westside Investment Management Inc. raised its stake in shares of Exact Sciences by 100.0% during the third quarter. Westside Investment Management Inc. now owns 542 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 271 shares during the last quarter. Country Trust Bank acquired a new position in shares of Exact Sciences during the second quarter worth $32,000. Finally, Legacy Capital Wealth Partners LLC acquired a new position in shares of Exact Sciences during the fourth quarter worth $42,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

About Exact Sciences

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.