Harbour Investments Inc. Trims Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Harbour Investments Inc. trimmed its position in Exact Sciences Co. (NASDAQ:EXAS) by 10.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,666 shares of the medical research company’s stock after selling 3,124 shares during the period. Harbour Investments Inc.’s holdings in Exact Sciences were worth $1,498,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Huntington National Bank lifted its holdings in shares of Exact Sciences by 838.1% during the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after acquiring an additional 352 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in shares of Exact Sciences during the 3rd quarter worth about $34,000. Asset Planning Inc purchased a new position in shares of Exact Sciences during the 4th quarter worth about $40,000. Modus Advisors LLC purchased a new position in shares of Exact Sciences during the 4th quarter worth about $43,000. Finally, AlphaQuest LLC lifted its holdings in shares of Exact Sciences by 22,825.0% during the 4th quarter. AlphaQuest LLC now owns 917 shares of the medical research company’s stock worth $52,000 after acquiring an additional 913 shares during the period. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. BTIG Research increased their price objective on shares of Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Benchmark restated a “buy” rating and issued a $65.00 price target on shares of Exact Sciences in a report on Monday, January 13th. Bank of America cut their price target on shares of Exact Sciences from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Royal Bank of Canada assumed coverage on shares of Exact Sciences in a report on Thursday, March 13th. They issued a “sector perform” rating and a $52.00 price target on the stock. Finally, Scotiabank raised their price target on shares of Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a report on Monday, February 24th. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, Exact Sciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.83.

Exact Sciences Stock Down 0.6 %

EXAS stock opened at $44.92 on Wednesday. Exact Sciences Co. has a twelve month low of $40.62 and a twelve month high of $79.62. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $8.34 billion, a P/E ratio of -8.06 and a beta of 1.25. The firm has a 50 day simple moving average of $51.24 and a 200-day simple moving average of $58.58.

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