Benchmark Increases Exact Sciences (NASDAQ:EXAS) Price Target to $75.00

Exact Sciences (NASDAQ:EXAS) had its price target boosted by investment analysts at Benchmark from $60.00 to $75.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. Benchmark’s target price points to a potential upside of 6.82% from the stock’s current price.

Several other analysts have also issued reports on the company. Royal Bank Of Canada lowered their target price on Exact Sciences from $54.00 to $46.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 7th. Zacks Research upgraded Exact Sciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Piper Sandler boosted their target price on Exact Sciences from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Evercore ISI lifted their price target on Exact Sciences from $64.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, October 7th. Finally, Wells Fargo & Company set a $68.00 price target on Exact Sciences in a research report on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.90.

Exact Sciences Stock Performance

Shares of EXAS traded up $3.23 during mid-day trading on Tuesday, hitting $70.21. The stock had a trading volume of 4,436,091 shares, compared to its average volume of 2,721,982. The firm has a market cap of $13.29 billion, a P/E ratio of -12.94, a PEG ratio of 5.56 and a beta of 1.24. The business has a fifty day moving average price of $56.38 and a 200-day moving average price of $52.83. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.89 and a quick ratio of 2.56. Exact Sciences has a 52 week low of $38.81 and a 52 week high of $72.83.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Monday, November 3rd. The medical research company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.11. The firm had revenue of $850.74 million for the quarter, compared to analyst estimates of $810.42 million. Exact Sciences had a negative return on equity of 1.75% and a negative net margin of 34.19%.The business’s revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.21) earnings per share. Exact Sciences has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Exact Sciences will post -0.58 EPS for the current year.

Insider Buying and Selling

In other Exact Sciences news, Director James Edward Doyle sold 2,000 shares of Exact Sciences stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $60.00, for a total transaction of $120,000.00. Following the completion of the sale, the director owned 57,962 shares of the company’s stock, valued at $3,477,720. The trade was a 3.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Exact Sciences

Hedge funds have recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd bought a new stake in shares of Exact Sciences in the 2nd quarter valued at about $3,716,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Exact Sciences in the 1st quarter valued at about $34,000. Cerity Partners LLC lifted its stake in shares of Exact Sciences by 24.0% in the 1st quarter. Cerity Partners LLC now owns 33,598 shares of the medical research company’s stock valued at $1,454,000 after acquiring an additional 6,508 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Exact Sciences in the 1st quarter valued at about $1,171,000. Finally, Gagnon Securities LLC lifted its stake in shares of Exact Sciences by 3.0% in the 2nd quarter. Gagnon Securities LLC now owns 278,789 shares of the medical research company’s stock valued at $14,815,000 after acquiring an additional 8,125 shares during the last quarter. Institutional investors own 88.82% of the company’s stock.

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.