Exact Sciences (NASDAQ:EXAS) Reaches New 12-Month Low – Time to Sell?

Exact Sciences Co. (NASDAQ:EXAS)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $40.12 and last traded at $41.40, with a volume of 144455 shares trading hands. The stock had previously closed at $42.55.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Guggenheim set a $60.00 target price on shares of Exact Sciences and gave the stock a “buy” rating in a report on Friday, March 28th. Piper Sandler lowered their price objective on Exact Sciences from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Scotiabank boosted their target price on Exact Sciences from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 24th. Bank of America lowered their price target on Exact Sciences from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Finally, Barclays cut their price objective on Exact Sciences from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $70.26.

Exact Sciences Stock Up 4.2 %

The stock has a market cap of $8.23 billion, a P/E ratio of -7.96 and a beta of 1.14. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97. The company has a 50-day simple moving average of $48.64 and a two-hundred day simple moving average of $56.90.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.23. The company had revenue of $713.42 million during 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%. On average, equities analysts forecast that Exact Sciences Co. will post -0.58 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Asset Planning Inc bought a new stake in shares of Exact Sciences in the 4th quarter worth approximately $40,000. Modus Advisors LLC bought a new stake in Exact Sciences in the fourth quarter valued at $43,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Exact Sciences during the 4th quarter valued at $45,000. AlphaQuest LLC raised its holdings in Exact Sciences by 22,825.0% in the 4th quarter. AlphaQuest LLC now owns 917 shares of the medical research company’s stock worth $52,000 after purchasing an additional 913 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Exact Sciences in the 4th quarter worth about $66,000. Hedge funds and other 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.