Pictet Asset Management Holding SA Has $3.90 Million Stock Holdings in Exact Sciences Co. (NASDAQ:EXAS)

Pictet Asset Management Holding SA boosted its stake in shares of Exact Sciences Co. (NASDAQ:EXAS) by 2.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 69,341 shares of the medical research company’s stock after buying an additional 1,609 shares during the period. Pictet Asset Management Holding SA’s holdings in Exact Sciences were worth $3,896,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Groupama Asset Managment bought a new stake in shares of Exact Sciences during the third quarter worth $821,000. Norges Bank acquired a new position in Exact Sciences in the 4th quarter worth $50,625,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings 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 worth $30,863,000 after purchasing an additional 213,557 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Exact Sciences in the 4th quarter valued at about $9,611,000. Finally, Soros Fund Management LLC lifted its holdings in shares of Exact Sciences by 68.3% in the third quarter. Soros Fund Management LLC now owns 378,590 shares of the medical research company’s stock valued at $25,790,000 after purchasing an additional 153,590 shares in the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Bank of America decreased their price objective on Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Barclays decreased their price target on shares of Exact Sciences from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Piper Sandler cut their price objective on shares of Exact Sciences from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Guggenheim set a $60.00 target price on shares of Exact Sciences and gave the company a “buy” rating in a research report on Friday, March 28th. Finally, Benchmark reiterated a “buy” rating and issued a $65.00 price target on shares of Exact Sciences in a research note on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.26.

Exact Sciences Trading Down 3.9 %

EXAS stock opened at $42.55 on Friday. The stock has a market cap of $7.90 billion, a price-to-earnings ratio of -7.64 and a beta of 1.14. The company has a fifty day moving average price of $48.64 and a two-hundred day moving average price of $57.06. Exact Sciences Co. has a one year low of $40.62 and a one year high of $74.44. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.15 and a quick ratio of 1.93.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.23. The business had revenue of $713.42 million during 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%. Equities analysts anticipate that Exact Sciences Co. will post -0.58 EPS for the current 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.