Farther Finance Advisors LLC Lowers Position in Exact Sciences Co. (NASDAQ:EXAS)

Farther Finance Advisors LLC trimmed its stake in shares of Exact Sciences Co. (NASDAQ:EXAS) by 66.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 574 shares of the medical research company’s stock after selling 1,154 shares during the period. Farther Finance Advisors LLC’s holdings in Exact Sciences were worth $32,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Groupama Asset Managment bought a new position in shares of Exact Sciences during the 3rd quarter valued at approximately $821,000. ArrowMark Colorado Holdings LLC bought a new position in Exact Sciences during the third quarter valued at $28,608,000. Iron Triangle Partners LP purchased a new position in shares of Exact Sciences in the 3rd quarter worth $27,239,000. Erste Asset Management GmbH bought a new stake in shares of Exact Sciences in the 3rd quarter worth about $26,546,000. Finally, Bellevue Group AG raised its position in shares of Exact Sciences by 25.1% during the 3rd quarter. Bellevue Group AG now owns 1,449,465 shares of the medical research company’s stock valued at $98,738,000 after buying an additional 290,585 shares in the last quarter. 88.82% of the stock is currently owned by institutional investors.

Exact Sciences Stock Up 3.2 %

Shares of NASDAQ:EXAS opened at $47.09 on Tuesday. The business’s 50 day moving average is $50.32 and its 200 day moving average is $58.18. The stock has a market cap of $8.75 billion, a P/E ratio of -8.45 and a beta of 1.25. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week high of $79.62. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Sell-side analysts predict that Exact Sciences Co. will post -0.58 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on EXAS. Royal Bank of Canada started coverage on Exact Sciences in a research note on Thursday, March 13th. They set a “sector perform” rating and a $52.00 price objective on the stock. Benchmark reissued a “buy” rating and set a $65.00 target price on shares of Exact Sciences in a research report on Monday, January 13th. Scotiabank raised their price target on Exact Sciences from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 24th. BTIG Research boosted their price objective on shares of Exact Sciences from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, William Blair restated an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Exact Sciences presently has an average rating of “Moderate Buy” and a consensus price target of $70.83.

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.