Exact Sciences Co. (NASDAQ:EXAS) Receives $72.94 Consensus Price Target from Analysts

Exact Sciences Co. (NASDAQ:EXAS) has earned an average rating of “Moderate Buy” from the eighteen analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $72.94.

EXAS has been the subject of several research reports. Bank of America reduced their price target on shares of Exact Sciences from $75.00 to $72.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Jefferies Financial Group increased their price target on shares of Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Robert W. Baird reduced their price target on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. William Blair reiterated an “outperform” rating on shares of Exact Sciences in a research report on Monday. Finally, Stifel Nicolaus cut their target price on shares of Exact Sciences from $82.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th.

Exact Sciences Price Performance

EXAS opened at $54.20 on Wednesday. The firm has a market cap of $10.03 billion, a P/E ratio of -46.32 and a beta of 1.24. The firm has a 50-day moving average of $57.57 and a 200 day moving average of $58.98. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12. Exact Sciences has a fifty-two week low of $40.62 and a fifty-two week high of $79.62.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The company had revenue of $708.66 million for the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, research analysts expect that Exact Sciences will post -1.13 EPS for the current year.

Insider Transactions at Exact Sciences

In other news, CEO Kevin T. Conroy purchased 19,500 shares of the stock in a transaction dated Wednesday, November 13th. The shares were purchased at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the acquisition, the chief executive officer now owns 1,074,191 shares in the company, valued at $55,159,707.85. This represents a 1.85 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.36% of the company’s stock.

Institutional Investors Weigh In On Exact Sciences

A number of institutional investors and hedge funds have recently modified their holdings of EXAS. Huntington National Bank lifted its holdings in shares of Exact Sciences by 838.1% in the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after buying an additional 352 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Exact Sciences in the second quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC purchased a new stake in Exact Sciences in the third quarter valued at approximately $34,000. Capital Performance Advisors LLP purchased a new stake in Exact Sciences in the third quarter valued at approximately $35,000. Finally, Modus Advisors LLC purchased a new stake in Exact Sciences in the fourth quarter valued at approximately $43,000. 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.