Exact Sciences (NASDAQ:EXAS) Stock Price Expected to Rise, BTIG Research Analyst Says

Exact Sciences (NASDAQ:EXAS) had its price objective hoisted by BTIG Research from $65.00 to $75.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the medical research company’s stock.

EXAS has been the subject of a number of other research reports. Citigroup dropped their target price on Exact Sciences from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. TD Cowen dropped their target price on Exact Sciences from $90.00 to $82.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Piper Sandler dropped their target price on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Sanford C. Bernstein boosted their target price on Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Benchmark lowered their price objective on Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $75.29.

Exact Sciences Stock Up 9.0 %

EXAS stock opened at $60.10 on Tuesday. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $11.12 billion, a PE ratio of -51.37 and a beta of 1.27. Exact Sciences has a twelve month low of $40.62 and a twelve month high of $79.62. The stock has a 50-day simple moving average of $64.51 and a two-hundred day simple moving average of $55.85.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The business had revenue of $708.66 million for the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities analysts predict that Exact Sciences will post -1.13 EPS for the current fiscal year.

Insider Transactions at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the sale, the executive vice president now directly owns 12,758 shares of the company’s stock, valued at approximately $893,060. This trade represents a 6.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin T. Conroy bought 19,500 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were purchased at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the transaction, the chief executive officer now owns 1,074,191 shares in the company, valued at $55,159,707.85. This represents a 1.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.36% of the company’s stock.

Institutional Investors Weigh In On Exact Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Huntington National Bank raised its position in shares of Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after acquiring an additional 352 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Exact Sciences in the 2nd quarter worth $29,000. RPg Family Wealth Advisory LLC bought a new position in shares of Exact Sciences in the 3rd quarter worth $34,000. Capital Performance Advisors LLP bought a new position in shares of Exact Sciences in the 3rd quarter worth $35,000. Finally, Vestor Capital LLC bought a new position in shares of Exact Sciences in the 3rd quarter worth $46,000. 88.82% of the stock is owned by institutional investors.

About Exact Sciences

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.