Exact Sciences Co. (NASDAQ:EXAS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Exact Sciences Co. (NASDAQ:EXAS) have been assigned an average recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $77.77.

A number of research analysts recently commented on EXAS shares. The Goldman Sachs Group lowered their price target on shares of Exact Sciences from $88.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Benchmark lowered their price objective on Exact Sciences from $91.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. BTIG Research cut their target price on Exact Sciences from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Canaccord Genuity Group restated a “buy” rating and issued a $75.00 price target on shares of Exact Sciences in a research report on Friday, September 13th. Finally, Piper Sandler upped their price target on shares of Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, September 12th.

Insider Activity

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the completion of the transaction, the executive vice president now directly owns 13,687 shares in the company, valued at $958,090. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.36% of the company’s stock.

Institutional Trading of Exact Sciences

A number of institutional investors have recently made changes to their positions in EXAS. Vanguard Group Inc. lifted its position in Exact Sciences by 1.0% during the first quarter. Vanguard Group Inc. now owns 17,740,092 shares of the medical research company’s stock valued at $1,225,131,000 after purchasing an additional 180,341 shares during the period. Capital World Investors boosted its stake in Exact Sciences by 74.4% during the first quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock worth $899,528,000 after buying an additional 5,557,168 shares during the last quarter. William Blair Investment Management LLC purchased a new position in Exact Sciences in the second quarter worth approximately $163,896,000. Champlain Investment Partners LLC raised its position in Exact Sciences by 175.3% in the first quarter. Champlain Investment Partners LLC now owns 2,258,235 shares of the medical research company’s stock valued at $155,954,000 after purchasing an additional 1,438,010 shares during the period. Finally, Armistice Capital LLC increased its stake in Exact Sciences by 91.6% during the 2nd quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock worth $59,154,000 after buying an additional 669,438 shares during the period. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Trading Down 2.9 %

Shares of EXAS stock opened at $65.96 on Monday. The company has a current ratio of 2.17, a quick ratio of 1.98 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $12.17 billion, a price-to-earnings ratio of -49.97 and a beta of 1.26. 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 price is $59.32 and its 200-day moving average price is $56.09.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Wednesday, July 31st. The medical research company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.28. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The firm had revenue of $699.26 million during the quarter, compared to the consensus estimate of $690.02 million. During the same period in the prior year, the company earned ($0.45) EPS. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. Equities research analysts predict that Exact Sciences will post -0.87 EPS for the current fiscal year.

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.