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

Shares of Exact Sciences Co. (NASDAQ:EXAS) have been given a consensus rating of “Moderate Buy” by the twenty research firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $70.83.

Several brokerages recently weighed in on EXAS. Barclays dropped their target price on Exact Sciences from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Piper Sandler dropped their target price on Exact Sciences from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. BTIG Research increased their target price on Exact Sciences from $65.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Benchmark reiterated a “buy” rating and issued a $65.00 price objective on shares of Exact Sciences in a report on Monday, January 13th. Finally, Bank of America dropped their price objective on Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, February 20th.

Exact Sciences Price Performance

EXAS opened at $45.62 on Monday. The stock has a 50-day moving average price of $50.55 and a 200-day moving average price of $58.28. Exact Sciences has a 12-month low of $40.62 and a 12-month high of $79.62. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $8.47 billion, a P/E ratio of -8.19 and a beta of 1.25.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.23. The company had revenue of $713.42 million during the quarter, compared to analysts’ expectations 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 predict that Exact Sciences will post -0.58 earnings per share for the current fiscal year.

Institutional Trading of Exact Sciences

Institutional investors and hedge funds have recently modified their holdings of the business. RPg Family Wealth Advisory LLC purchased a new position in shares of Exact Sciences in the 3rd quarter worth $34,000. Asset Planning Inc bought a new position in shares of Exact Sciences in the fourth quarter worth about $40,000. Modus Advisors LLC bought a new position in shares of Exact Sciences in the fourth quarter worth about $43,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Exact Sciences in the fourth quarter worth about $45,000. Finally, AlphaQuest LLC boosted its stake in shares of Exact Sciences by 22,825.0% in the fourth quarter. AlphaQuest LLC now owns 917 shares of the medical research company’s stock worth $52,000 after acquiring an additional 913 shares during the period. Institutional investors 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.