Piper Sandler Boosts Exact Sciences (NASDAQ:EXAS) Price Target to $85.00

Exact Sciences (NASDAQ:EXAS) had its price objective lifted by Piper Sandler from $75.00 to $85.00 in a research report sent to investors on Thursday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the medical research company’s stock.

Several other brokerages also recently weighed in on EXAS. BTIG Research lowered their target price on Exact Sciences from $80.00 to $70.00 and set a buy rating on the stock in a research note on Wednesday, June 26th. Benchmark decreased their target price on Exact Sciences from $91.00 to $67.00 and set a buy rating on the stock in a research report on Thursday, August 1st. Evercore ISI cut their price target on Exact Sciences from $80.00 to $72.00 and set an outperform rating for the company in a report on Tuesday, July 2nd. Scotiabank initiated coverage on Exact Sciences in a report on Thursday, June 27th. They issued a sector outperform rating and a $70.00 price target for the company. Finally, The Goldman Sachs Group dropped their target price on Exact Sciences from $88.00 to $75.00 and set a buy rating for the company in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Exact Sciences currently has a consensus rating of Moderate Buy and a consensus price target of $78.14.

Exact Sciences Price Performance

Shares of NASDAQ EXAS opened at $65.54 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.98 and a current ratio of 2.17. Exact Sciences has a fifty-two week low of $40.62 and a fifty-two week high of $79.62. The firm has a market capitalization of $12.11 billion, a PE ratio of -49.65 and a beta of 1.26. The stock’s 50-day simple moving average is $54.89 and its 200-day simple moving average is $55.44.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings results on Wednesday, July 31st. The medical research company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.28. The company had revenue of $699.26 million for the quarter, compared to analyst estimates of $690.02 million. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The firm’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.45) earnings per share. As a group, equities research analysts forecast that Exact Sciences will post -0.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Exact Sciences

Institutional investors and hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Exact Sciences by 16.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,196 shares of the medical research company’s stock valued at $6,160,000 after purchasing an additional 12,349 shares during the last quarter. Thompson Investment Management Inc. increased its position in Exact Sciences by 13.1% in the 1st quarter. Thompson Investment Management Inc. now owns 160,584 shares of the medical research company’s stock valued at $11,090,000 after acquiring an additional 18,595 shares during the period. Vanguard Group Inc. boosted its stake in Exact Sciences by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 17,559,751 shares of the medical research company’s stock valued at $1,299,070,000 after purchasing an additional 115,058 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in Exact Sciences by 4.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 22,687 shares of the medical research company’s stock valued at $1,678,000 after purchasing an additional 1,020 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Exact Sciences by 5.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 207,364 shares of the medical research company’s stock valued at $14,361,000 after purchasing an additional 10,356 shares in the last quarter. Hedge funds and other institutional investors 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.