Sanford C. Bernstein Forecasts Strong Price Appreciation for Exact Sciences (NASDAQ:EXAS) Stock

Exact Sciences (NASDAQ:EXAS) had its target price raised by Sanford C. Bernstein from $75.00 to $90.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the medical research company’s stock. Sanford C. Bernstein’s price objective would suggest a potential upside of 30.57% from the company’s previous close.

EXAS has been the topic of a number of other reports. Piper Sandler raised their target price on Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, September 12th. Evercore ISI lifted their price objective on shares of Exact Sciences from $72.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Wells Fargo & Company assumed coverage on shares of Exact Sciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price objective on the stock. The Goldman Sachs Group cut their price objective on shares of Exact Sciences from $88.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Finally, Canaccord Genuity Group lifted their price objective on shares of Exact Sciences from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $80.64.

Exact Sciences Stock Performance

EXAS stock opened at $68.93 on Wednesday. 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 stock has a market capitalization of $12.72 billion, a price-to-earnings ratio of -52.22 and a beta of 1.27. Exact Sciences has a 1 year low of $40.62 and a 1 year high of $79.62. The stock’s fifty day moving average is $66.61 and its two-hundred day moving average is $56.61.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.28. The company had revenue of $699.26 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 12.4% compared to the same quarter last year. During the same period last year, the business posted ($0.45) earnings per share. On average, research analysts predict that Exact Sciences will post -0.87 EPS for the current year.

Insider Buying and Selling

In related news, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the transaction, the executive vice president now owns 12,758 shares of the company’s stock, valued at approximately $893,060. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.36% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Exact Sciences

Institutional investors have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Exact Sciences by 16.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,196 shares of the medical research company’s stock worth $6,160,000 after acquiring an additional 12,349 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in shares of 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 buying an additional 10,356 shares during the last quarter. Profund Advisors LLC lifted its holdings in shares of 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 buying an additional 55,459 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Exact Sciences during the 2nd quarter valued at about $163,896,000. Finally, Grandfield & Dodd LLC lifted its holdings in shares of Exact Sciences by 142.5% during the 1st quarter. Grandfield & Dodd LLC now owns 55,224 shares of the medical research company’s stock valued at $3,814,000 after buying an additional 32,453 shares during the last quarter. 88.82% of the stock is currently 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.