Scotiabank Forecasts Strong Price Appreciation for Exact Sciences (NASDAQ:EXAS) Stock

Exact Sciences (NASDAQ:EXAS) had its target price lifted by Scotiabank from $70.00 to $73.00 in a research note released on Monday,Benzinga reports. The brokerage currently has a sector outperform rating on the medical research company’s stock.

Other research analysts have also recently issued reports about the stock. 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 research report on Wednesday, October 30th. Piper Sandler cut their price objective on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Citigroup decreased their price objective on shares of Exact Sciences from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Robert W. Baird dropped their target price on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, Bank of America reduced their price target on Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, February 20th. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Exact Sciences currently has an average rating of “Moderate Buy” and a consensus target price of $72.24.

Exact Sciences Trading Up 4.1 %

Shares of EXAS opened at $51.28 on Monday. Exact Sciences has a 12 month low of $40.62 and a 12 month high of $79.62. The stock’s 50-day moving average is $54.72 and its two-hundred day moving average is $60.00. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.15 and a quick ratio of 1.93. The stock has a market cap of $9.53 billion, a PE ratio of -9.21 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.23. The business had revenue of $713.42 million for the quarter, compared to the consensus estimate of $701.45 million. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. Equities analysts forecast that Exact Sciences will post -0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Exact Sciences

Several institutional investors and hedge funds have recently bought and sold shares of the business. Huntington National Bank grew 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 worth $27,000 after buying an additional 352 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of Exact Sciences during the third quarter valued at about $34,000. Capital Performance Advisors LLP acquired a new stake in Exact Sciences in the third quarter worth about $35,000. Asset Planning Inc bought a new position in Exact Sciences in the 4th quarter valued at about $40,000. Finally, Modus Advisors LLC acquired a new position in Exact Sciences during the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

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.