Exact Sciences Co. (NASDAQ:EXAS) Receives Consensus Rating of “Moderate Buy” from Brokerages

Exact Sciences Co. (NASDAQ:EXAS) has been assigned a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $72.94.

A number of equities analysts have recently issued reports on the company. Citigroup dropped their price target on Exact Sciences from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Wells Fargo & Company initiated coverage on Exact Sciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price target for the company. Canaccord Genuity Group lowered their price objective on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. BTIG Research raised their price objective on shares of Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, William Blair reiterated an “outperform” rating on shares of Exact Sciences in a research report on Thursday, November 21st.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Chicago Partners Investment Group LLC raised its position in Exact Sciences by 1.7% during the third quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company’s stock valued at $651,000 after purchasing an additional 158 shares during the period. Amalgamated Bank lifted its position in Exact Sciences by 2.7% in the second quarter. Amalgamated Bank now owns 10,937 shares of the medical research company’s stock worth $462,000 after buying an additional 284 shares during the last quarter. Huntington National Bank boosted its stake in Exact Sciences by 838.1% during the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after buying an additional 352 shares during the period. CIBC Asset Management Inc boosted its stake in Exact Sciences by 6.2% during the second quarter. CIBC Asset Management Inc now owns 6,118 shares of the medical research company’s stock worth $258,000 after buying an additional 356 shares during the period. Finally, Advisors Asset Management Inc. increased its position in Exact Sciences by 1.4% during the third quarter. Advisors Asset Management Inc. now owns 28,650 shares of the medical research company’s stock valued at $1,952,000 after acquiring an additional 402 shares during the last quarter. Institutional investors own 88.82% of the company’s stock.

Exact Sciences Trading Down 2.0 %

Exact Sciences stock opened at $61.25 on Friday. Exact Sciences has a one year low of $40.62 and a one year high of $79.62. The business’s fifty day moving average is $62.73 and its 200 day moving average is $56.72. The stock has a market capitalization of $11.34 billion, a PE ratio of -52.35 and a beta of 1.24. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93.

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

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.