IFP Advisors Inc Buys 39,067 Shares of Exact Sciences Co. (NASDAQ:EXAS)

IFP Advisors Inc increased its stake in Exact Sciences Co. (NASDAQ:EXAS) by 12,363.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,383 shares of the medical research company’s stock after acquiring an additional 39,067 shares during the quarter. IFP Advisors Inc’s holdings in Exact Sciences were worth $2,214,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in shares of Exact Sciences by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,105,970 shares of the medical research company’s stock valued at $211,104,000 after acquiring an additional 7,873 shares in the last quarter. Champlain Investment Partners LLC increased its stake in Exact Sciences by 10.9% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,494,480 shares of the medical research company’s stock valued at $169,924,000 after purchasing an additional 245,980 shares in the last quarter. Bellevue Group AG increased its stake in 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 purchasing an additional 290,585 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Exact Sciences by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,292,090 shares of the medical research company’s stock valued at $88,017,000 after purchasing an additional 45,015 shares in the last quarter. Finally, Groupama Asset Managment bought a new stake in Exact Sciences during the 3rd quarter valued at $821,000. Institutional investors own 88.82% of the company’s stock.

Exact Sciences Price Performance

Shares of NASDAQ:EXAS opened at $50.18 on Wednesday. The company’s 50-day moving average is $54.52 and its 200 day moving average is $59.95. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15. The company has a market capitalization of $9.32 billion, a P/E ratio of -9.01 and a beta of 1.24. Exact Sciences Co. has a fifty-two week low of $40.62 and a fifty-two week high of $79.62.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.23. The company had revenue of $713.42 million for the quarter, compared to the consensus estimate of $701.45 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. On average, equities research analysts forecast that Exact Sciences Co. will post -0.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Sanford C. Bernstein boosted their price target on shares of Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler decreased their price target on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. William Blair restated an “outperform” rating on shares of Exact Sciences in a research note on Thursday, February 20th. TD Cowen boosted their price target on shares of Exact Sciences from $82.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, The Goldman Sachs Group decreased their price target on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, Exact Sciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.24.

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.