Exact Sciences (NASDAQ:EXAS) Price Target Raised to $75.00 at BTIG Research

Exact Sciences (NASDAQ:EXAS) had its target price raised by BTIG Research from $65.00 to $75.00 in a report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the medical research company’s stock.

A number of other brokerages have also commented on EXAS. Piper Sandler cut their price objective on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Wells Fargo & Company assumed coverage on shares of Exact Sciences in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 price objective on the stock. Raymond James reissued a “market perform” rating on shares of Exact Sciences in a research report on Thursday, September 26th. Citigroup dropped their price target on shares of Exact Sciences from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Finally, Canaccord Genuity Group dropped their price target on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $75.29.

Exact Sciences Stock Up 9.0 %

Shares of NASDAQ EXAS opened at $60.10 on Tuesday. The stock has a market cap of $11.12 billion, a P/E ratio of -51.37 and a beta of 1.27. The firm has a 50 day moving average price of $64.51 and a 200 day moving average price of $55.85. 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 52-week low of $40.62 and a 52-week high of $79.62.

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

Insider Activity at Exact Sciences

In other Exact Sciences news, CEO Kevin T. Conroy purchased 19,500 shares of Exact Sciences stock in a transaction that occurred on Wednesday, November 13th. The stock was acquired at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the transaction, the chief executive officer now owns 1,074,191 shares in the company, valued at $55,159,707.85. This trade represents a 1.85 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brian Baranick sold 929 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the transaction, the executive vice president now owns 13,687 shares in the company, valued at approximately $958,090. This trade represents a 6.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Exact Sciences

A number of hedge funds have recently made changes to their positions in the business. Huntington National Bank raised its stake in Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 352 shares during the period. Itau Unibanco Holding S.A. bought a new stake in Exact Sciences in the 2nd quarter valued at about $29,000. RPg Family Wealth Advisory LLC bought a new stake in Exact Sciences in the 3rd quarter valued at about $34,000. Capital Performance Advisors LLP bought a new stake in Exact Sciences in the 3rd quarter valued at about $35,000. Finally, Vestor Capital LLC bought a new stake in Exact Sciences in the 3rd quarter valued at about $46,000. 88.82% of the stock is currently owned by 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.