Exact Sciences (NASDAQ:EXAS) Receives Outperform Rating from William Blair

William Blair reaffirmed their outperform rating on shares of Exact Sciences (NASDAQ:EXAS) in a research note published on Monday,RTT News reports.

Several other brokerages have also recently weighed in on EXAS. Bank of America decreased their price objective on Exact Sciences from $75.00 to $72.00 and set a “buy” rating for the company in a report on Friday, December 13th. BTIG Research boosted their price target on Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler cut their price objective on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Sanford C. Bernstein boosted their target price on shares of Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, TD Cowen increased their price target on shares of Exact Sciences from $82.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Exact Sciences currently has an average rating of “Moderate Buy” and an average target price of $72.94.

Exact Sciences Stock Up 3.6 %

Shares of Exact Sciences stock opened at $58.51 on Monday. Exact Sciences has a 52-week low of $40.62 and a 52-week high of $79.62. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12. The business’s 50 day simple moving average is $57.57 and its 200 day simple moving average is $58.98. The firm has a market cap of $10.83 billion, a PE ratio of -50.01 and a beta of 1.24.

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

Insider Transactions at Exact Sciences

In other news, CEO Kevin T. Conroy bought 19,500 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was bought at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the acquisition, the chief executive officer now owns 1,074,191 shares of the company’s stock, valued at $55,159,707.85. This represents a 1.85 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.36% of the company’s stock.

Hedge Funds Weigh In On Exact Sciences

A number of hedge funds have recently bought and sold shares of EXAS. Huntington National Bank boosted its holdings in Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 352 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of Exact Sciences in the second quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC acquired a new stake in Exact Sciences during the third quarter worth approximately $34,000. Capital Performance Advisors LLP bought a new position in Exact Sciences during the 3rd quarter worth $35,000. Finally, Modus Advisors LLC acquired a new position in Exact Sciences in the 4th quarter valued at $43,000. 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.