Exact Sciences Co. (NASDAQ:EXAS) Receives Consensus Rating of “Moderate Buy” from Brokerages

Exact Sciences Co. (NASDAQ:EXAS) has earned a consensus rating of “Moderate Buy” from the nineteen ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and eighteen have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $71.94.

A number of equities research analysts have issued reports on EXAS shares. Canaccord Genuity Group cut their price target on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Scotiabank raised their price target on shares of Exact Sciences from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a report on Monday, February 24th. William Blair reissued an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 20th. Stifel Nicolaus cut their target price on shares of Exact Sciences from $82.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, TD Cowen lifted their target price on shares of Exact Sciences from $82.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th.

Exact Sciences Price Performance

EXAS stock opened at $47.55 on Thursday. The firm has a market cap of $8.83 billion, a P/E ratio of -8.54 and a beta of 1.24. Exact Sciences has a 52 week low of $40.62 and a 52 week high of $79.62. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15. The firm’s fifty day moving average is $53.71 and its 200 day moving average is $59.67.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.23. The business had revenue of $713.42 million for 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%. Research analysts predict that Exact Sciences will post -0.58 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its holdings in Exact Sciences by 74.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,760,241 shares of the medical research company’s stock worth $323,669,000 after buying an additional 2,462,165 shares during the last quarter. Capital World Investors raised its holdings in Exact Sciences by 10.7% in the fourth quarter. Capital World Investors now owns 17,537,617 shares of the medical research company’s stock worth $985,439,000 after buying an additional 1,696,321 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Exact Sciences by 107.7% in the fourth quarter. Mackenzie Financial Corp now owns 2,919,325 shares of the medical research company’s stock worth $164,037,000 after buying an additional 1,513,873 shares during the last quarter. Groupama Asset Managment purchased a new position in Exact Sciences in the third quarter worth about $821,000. Finally, Norges Bank purchased a new position in Exact Sciences in the fourth quarter worth about $50,625,000. 88.82% of the stock is owned by hedge funds and other institutional investors.

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.