Exact Sciences Co. (NASDAQ:EXAS) Shares Bought by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB increased its stake in shares of Exact Sciences Co. (NASDAQ:EXAS) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 471,000 shares of the medical research company’s stock after buying an additional 6,000 shares during the period. Exact Sciences accounts for approximately 2.7% of Rhenman & Partners Asset Management AB’s holdings, making the stock its 9th biggest holding. Rhenman & Partners Asset Management AB owned about 0.25% of Exact Sciences worth $26,465,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in EXAS. Groupama Asset Managment acquired a new stake in shares of Exact Sciences in the 3rd quarter valued at $821,000. Norges Bank bought a new stake in Exact Sciences during the 4th quarter worth about $50,625,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Exact Sciences by 63.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 549,262 shares of the medical research company’s stock valued at $30,863,000 after purchasing an additional 213,557 shares during the period. Raymond James Financial Inc. bought a new position in shares of Exact Sciences in the 4th quarter valued at about $9,611,000. Finally, Soros Fund Management LLC grew its position in shares of Exact Sciences by 68.3% during the 3rd quarter. Soros Fund Management LLC now owns 378,590 shares of the medical research company’s stock worth $25,790,000 after buying an additional 153,590 shares during the period. Institutional investors own 88.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on EXAS shares. William Blair reaffirmed an “outperform” rating on shares of Exact Sciences in a research note on Thursday, February 20th. Guggenheim set a $60.00 price target on Exact Sciences and gave the stock a “buy” rating in a research report on Friday, March 28th. Royal Bank of Canada began coverage on Exact Sciences in a report on Thursday, March 13th. They issued a “sector perform” rating and a $52.00 price objective for the company. Barclays reduced their target price on Exact Sciences from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, February 20th. Finally, Bank of America lowered their price target on Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, Exact Sciences currently has an average rating of “Moderate Buy” and a consensus target price of $70.26.

Exact Sciences Trading Down 3.9 %

NASDAQ EXAS opened at $42.55 on Friday. Exact Sciences Co. has a 52 week low of $40.62 and a 52 week high of $74.44. 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 stock’s 50 day moving average price is $48.64 and its two-hundred day moving average price is $57.06. The stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of -7.64 and a beta of 1.14.

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

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.