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

Exact Sciences Co. (NASDAQ:EXAS) has received a consensus rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $87.86.

Several research analysts recently issued reports on the stock. Canaccord Genuity Group decreased their price target on shares of Exact Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. BTIG Research decreased their price target on shares of Exact Sciences from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday. Citigroup decreased their price target on shares of Exact Sciences from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Scotiabank began coverage on shares of Exact Sciences in a research note on Thursday. They set a “sector outperform” rating and a $70.00 price objective for the company. Finally, Jefferies Financial Group began coverage on shares of Exact Sciences in a research note on Monday, June 3rd. They set a “buy” rating and a $75.00 price objective for the company.

Insider Activity

In other news, CEO Kevin T. Conroy sold 1,155 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $60.15, for a total transaction of $69,473.25. Following the sale, the chief executive officer now owns 1,156,191 shares of the company’s stock, valued at approximately $69,544,888.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Sarah Condella sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $70.00, for a total value of $140,000.00. Following the transaction, the executive vice president now owns 71,787 shares of the company’s stock, valued at $5,025,090. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kevin T. Conroy sold 1,155 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $60.15, for a total transaction of $69,473.25. Following the completion of the transaction, the chief executive officer now directly owns 1,156,191 shares in the company, valued at approximately $69,544,888.65. The disclosure for this sale can be found here. Insiders have sold a total of 3,498 shares of company stock valued at $230,105 in the last 90 days. 1.36% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Exact Sciences

Institutional investors and hedge funds have recently made changes to their positions in the business. Wolff Wiese Magana LLC lifted its holdings in Exact Sciences by 459.5% during the fourth quarter. Wolff Wiese Magana LLC now owns 414 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 340 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in Exact Sciences by 65.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 179 shares in the last quarter. Able Wealth Management LLC purchased a new position in Exact Sciences during the fourth quarter valued at approximately $45,000. EverSource Wealth Advisors LLC lifted its holdings in Exact Sciences by 92.4% during the first quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock valued at $49,000 after purchasing an additional 340 shares in the last quarter. Finally, Valley National Advisers Inc. lifted its holdings in Exact Sciences by 29.5% during the third quarter. Valley National Advisers Inc. now owns 773 shares of the medical research company’s stock valued at $53,000 after purchasing an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Trading Down 5.0 %

NASDAQ:EXAS opened at $42.25 on Friday. The company has a 50-day moving average price of $50.41 and a 200-day moving average price of $60.25. Exact Sciences has a 12 month low of $40.62 and a 12 month high of $100.77. The company has a current ratio of 1.64, a quick ratio of 1.45 and a debt-to-equity ratio of 0.66. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of -32.01 and a beta of 1.26.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Wednesday, May 8th. The medical research company reported ($0.50) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.50). The company had revenue of $637.52 million during the quarter, compared to analyst estimates of $624.95 million. Exact Sciences had a negative net margin of 9.48% and a negative return on equity of 7.12%. Equities analysts predict that Exact Sciences will post -1.15 EPS for the current year.

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.