Piper Sandler Raises Exact Sciences (NASDAQ:EXAS) Price Target to $85.00

Exact Sciences (NASDAQ:EXAS) had its target price raised by Piper Sandler from $75.00 to $85.00 in a report published on Thursday, Benzinga reports. The firm currently has an overweight rating on the medical research company’s stock.

Other analysts also recently issued reports about the company. Wells Fargo & Company assumed coverage on Exact Sciences in a research note on Tuesday, August 27th. They set an overweight rating and a $75.00 target price for the company. Stifel Nicolaus lowered their target price on Exact Sciences from $100.00 to $82.00 and set a buy rating for the company in a research note on Thursday, August 1st. The Goldman Sachs Group lowered their target price on Exact Sciences from $88.00 to $75.00 and set a buy rating for the company in a research note on Wednesday, July 17th. BTIG Research lowered their target price on Exact Sciences from $80.00 to $70.00 and set a buy rating for the company in a research note on Wednesday, June 26th. Finally, Jefferies Financial Group assumed coverage on Exact Sciences in a research note on Monday, June 3rd. They issued a buy rating and a $75.00 price target for the company. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $78.86.

Exact Sciences Stock Up 5.1 %

Shares of NASDAQ EXAS opened at $67.39 on Thursday. Exact Sciences has a 12-month low of $40.62 and a 12-month high of $80.05. The company has a market cap of $12.44 billion, a P/E ratio of -51.05 and a beta of 1.26. 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 fifty day moving average price of $54.47 and a 200 day moving average price of $55.40.

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

Hedge Funds Weigh In On Exact Sciences

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Exact Sciences by 1.0% in the first quarter. Vanguard Group Inc. now owns 17,740,092 shares of the medical research company’s stock worth $1,225,131,000 after acquiring an additional 180,341 shares during the last quarter. Capital World Investors raised its holdings in shares of 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 valued at $899,528,000 after buying an additional 5,557,168 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Exact Sciences by 12.8% during the fourth quarter. Artisan Partners Limited Partnership now owns 4,470,278 shares of the medical research company’s stock valued at $330,711,000 after buying an additional 508,764 shares during the last quarter. William Blair Investment Management LLC bought a new stake in shares of Exact Sciences during the second quarter valued at approximately $163,896,000. Finally, Champlain Investment Partners LLC raised its holdings in shares of Exact Sciences by 175.3% during 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 buying an additional 1,438,010 shares during the last quarter. Institutional investors own 88.82% of the company’s stock.

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.