Exact Sciences (NASDAQ:EXAS) Reaches New 12-Month High – Should You Buy?

Exact Sciences Corporation (NASDAQ:EXAS) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $103.75 and last traded at $103.71, with a volume of 3185358 shares traded. The stock had previously closed at $103.50.

Wall Street Analysts Forecast Growth

EXAS has been the subject of several recent research reports. Leerink Partners lowered shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 20th. Craig Hallum lowered shares of Exact Sciences from a “buy” rating to a “hold” rating and set a $105.00 price target for the company. in a research note on Friday, November 21st. Evercore set a $105.00 target price on Exact Sciences and gave the company an “in-line” rating in a research note on Monday, January 5th. Robert W. Baird set a $105.00 target price on shares of Exact Sciences in a research note on Thursday, November 20th. Finally, Zacks Research lowered Exact Sciences from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Twenty-one equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $92.13.

Exact Sciences Stock Up 0.2%

The company has a current ratio of 2.43, a quick ratio of 2.17 and a debt-to-equity ratio of 0.97. The firm has a market cap of $19.80 billion, a price-to-earnings ratio of -94.28, a PEG ratio of 2.36 and a beta of 1.41. The firm has a 50-day moving average of $102.65 and a two-hundred day moving average of $82.12.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Friday, February 13th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.29). Exact Sciences had a positive return on equity of 0.53% and a negative net margin of 6.40%.During the same quarter in the prior year, the company posted ($0.06) EPS. The company’s revenue was up 23.1% on a year-over-year basis. As a group, sell-side analysts predict that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Exact Sciences

Hedge funds have recently added to or reduced their stakes in the company. HBK Investments L P bought a new position in shares of Exact Sciences in the 4th quarter worth $776,592,000. Pentwater Capital Management LP bought a new position in shares of Exact Sciences during the 4th quarter worth approximately $736,310,000. Ameriprise Financial Inc. lifted its position in Exact Sciences by 105.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,493,085 shares of the medical research company’s stock worth $245,802,000 after buying an additional 2,310,139 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Exact Sciences by 31.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,909,501 shares of the medical research company’s stock worth $213,889,000 after buying an additional 939,888 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Exact Sciences during the 4th quarter worth about $348,425,000. Institutional investors own 88.82% of the company’s stock.

Exact Sciences Company Profile

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.