Wells Fargo & Company Issues Positive Forecast for Exact Sciences (NASDAQ:EXAS) Stock Price

Exact Sciences (NASDAQ:EXAS) had its price objective upped by Wells Fargo & Company from $68.00 to $85.00 in a research report released on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the medical research company’s stock.

A number of other equities research analysts also recently weighed in on the company. UBS Group decreased their target price on Exact Sciences from $61.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, August 7th. Barclays boosted their target price on shares of Exact Sciences from $65.00 to $77.00 and gave the company an “overweight” rating in a research note on Tuesday. Craig Hallum boosted their target price on Exact Sciences from $65.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, September 11th. Evercore ISI boosted their target price on Exact Sciences from $64.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Finally, Guggenheim boosted their price objective on shares of Exact Sciences from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Exact Sciences presently has an average rating of “Moderate Buy” and a consensus price target of $73.44.

Exact Sciences Stock Performance

Shares of Exact Sciences stock opened at $69.63 on Wednesday. The stock has a market cap of $13.18 billion, a PE ratio of -12.82, a price-to-earnings-growth ratio of 5.56 and a beta of 1.34. The business has a fifty day simple moving average of $57.31 and a 200-day simple moving average of $53.14. The company has a quick ratio of 2.56, a current ratio of 2.89 and a debt-to-equity ratio of 0.94. Exact Sciences has a 12 month low of $38.81 and a 12 month high of $72.81.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Monday, November 3rd. The medical research company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.11. Exact Sciences had a negative return on equity of 1.75% and a negative net margin of 34.19%.The business had revenue of $850.74 million during the quarter, compared to analyst estimates of $810.42 million. During the same period last year, the company earned ($0.21) earnings per share. Exact Sciences’s quarterly revenue was up 20.0% compared to the same quarter last year. Exact Sciences has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Exact Sciences will post -0.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director James Edward Doyle sold 2,000 shares of the stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $60.00, for a total transaction of $120,000.00. Following the completion of the transaction, the director directly owned 57,962 shares in the company, valued at $3,477,720. This represents a 3.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Exact Sciences

Several hedge funds have recently bought and sold shares of EXAS. Massachusetts Financial Services Co. MA acquired a new stake in Exact Sciences during the second quarter worth approximately $157,805,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Exact Sciences by 120.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,128,958 shares of the medical research company’s stock valued at $135,453,000 after purchasing an additional 1,707,287 shares in the last quarter. Holocene Advisors LP raised its position in Exact Sciences by 189.5% during the second quarter. Holocene Advisors LP now owns 2,145,181 shares of the medical research company’s stock valued at $113,995,000 after purchasing an additional 1,404,086 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Exact Sciences by 643.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,286,595 shares of the medical research company’s stock valued at $70,390,000 after purchasing an additional 1,113,459 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Exact Sciences during the first quarter worth $45,334,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

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.