Exact Sciences (NASDAQ:EXAS) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Exact Sciences (NASDAQ:EXAS) had its price target boosted by stock analysts at Canaccord Genuity Group from $75.00 to $95.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. Canaccord Genuity Group’s target price indicates a potential upside of 34.83% from the company’s previous close.

Several other research firms have also recently commented on EXAS. Evercore ISI raised their price target on shares of Exact Sciences from $72.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Raymond James reiterated a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. Wells Fargo & Company initiated coverage on shares of Exact Sciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price objective for the company. Piper Sandler boosted their price objective on Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, September 12th. Finally, The Goldman Sachs Group dropped their price objective 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 analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Exact Sciences has a consensus rating of “Moderate Buy” and an average price target of $80.64.

Exact Sciences Stock Up 1.2 %

Shares of EXAS stock opened at $70.46 on Tuesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.98 and a current ratio of 2.17. The business’s fifty day moving average is $66.41 and its 200-day moving average is $56.52. Exact Sciences has a 1 year low of $40.62 and a 1 year high of $79.62. The stock has a market cap of $13.00 billion, a PE ratio of -53.38 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings results on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.28. The business had revenue of $699.26 million during 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%. Exact Sciences’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.45) EPS. Equities analysts expect that Exact Sciences will post -0.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the sale, the executive vice president now directly owns 13,687 shares of the company’s stock, valued at approximately $958,090. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.36% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EXAS. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of 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 buying an additional 12,349 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of Exact Sciences by 5.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 207,364 shares of the medical research company’s stock worth $14,361,000 after acquiring an additional 10,356 shares in the last quarter. Profund Advisors LLC boosted its stake in Exact Sciences by 239.8% during the 2nd quarter. Profund Advisors LLC now owns 78,589 shares of the medical research company’s stock valued at $3,320,000 after purchasing an additional 55,459 shares during the last quarter. William Blair Investment Management LLC bought a new stake in Exact Sciences during the 2nd quarter worth approximately $163,896,000. Finally, Grandfield & Dodd LLC lifted its holdings in shares of Exact Sciences by 142.5% in the first quarter. Grandfield & Dodd LLC now owns 55,224 shares of the medical research company’s stock valued at $3,814,000 after purchasing an additional 32,453 shares in the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.

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.