BTIG Research Issues Positive Forecast for Exact Sciences (NASDAQ:EXAS) Stock Price

Exact Sciences (NASDAQ:EXAS) had its price objective upped by BTIG Research from $65.00 to $75.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the medical research company’s stock.

A number of other brokerages have also issued reports on EXAS. Sanford C. Bernstein lifted their target price on Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. William Blair reaffirmed an “outperform” rating on shares of Exact Sciences in a research note on Thursday, November 21st. Citigroup reduced their target price on shares of Exact Sciences from $80.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Jefferies Financial Group lifted their price target on shares of Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Evercore ISI cut their price target on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $75.29.

Exact Sciences Stock Performance

Shares of EXAS opened at $61.69 on Tuesday. The firm’s 50 day moving average price is $64.20 and its two-hundred day moving average price is $55.93. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12. Exact Sciences has a twelve month low of $40.62 and a twelve month high of $79.62. The firm has a market cap of $11.42 billion, a P/E ratio of -52.73 and a beta of 1.27.

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

Insider Activity

In related news, CEO Kevin T. Conroy purchased 19,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were acquired at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the purchase, the chief executive officer now owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. This represents a 1.85 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Brian Baranick sold 929 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the sale, the executive vice president now owns 12,758 shares of the company’s stock, valued at $893,060. This trade represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Huntington National Bank boosted its position in shares of Exact Sciences by 838.1% in the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 352 shares during the period. Itau Unibanco Holding S.A. bought a new position in Exact Sciences during the second quarter worth about $29,000. RPg Family Wealth Advisory LLC acquired a new stake in Exact Sciences in the 3rd quarter worth about $34,000. Capital Performance Advisors LLP bought a new stake in Exact Sciences in the 3rd quarter valued at about $35,000. Finally, Vestor Capital LLC acquired a new position in shares of Exact Sciences during the 3rd quarter worth approximately $46,000. 88.82% of the stock is owned by institutional investors and hedge funds.

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.