Exact Sciences Co. (NASDAQ:EXAS) Given Average Rating of “Moderate Buy” by Analysts

Shares of Exact Sciences Co. (NASDAQ:EXAS) have received a consensus recommendation of “Moderate Buy” from the nineteen analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and eighteen have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $74.47.

A number of analysts have commented on the company. Evercore ISI decreased their price objective on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. TD Cowen decreased their price objective on shares of Exact Sciences from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Canaccord Genuity Group dropped their target price 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. Craig Hallum reduced their target price on Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, BTIG Research decreased their price target on Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th.

Exact Sciences Stock Performance

Shares of Exact Sciences stock opened at $49.54 on Tuesday. Exact Sciences has a one year low of $40.62 and a one year high of $79.62. The firm has a market capitalization of $9.17 billion, a price-to-earnings ratio of -42.34 and a beta of 1.27. The business has a 50-day simple moving average of $65.64 and a 200 day simple moving average of $56.08. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 6.17% and a negative net margin of 7.95%. Exact Sciences’s quarterly revenue was up 12.8% on a year-over-year basis. On average, research analysts anticipate that Exact Sciences will post -1.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the sale, the executive vice president now directly owns 12,758 shares in the company, valued at approximately $893,060. The trade was a 6.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kevin T. Conroy acquired 19,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the acquisition, the chief executive officer now directly owns 1,074,191 shares in the company, valued at $55,159,707.85. This represents a 1.85 % increase in their position. The disclosure for this purchase can be found here. 1.36% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Exact Sciences

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Huntington National Bank grew its stake in Exact Sciences by 838.1% during the third 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 in the last quarter. Itau Unibanco Holding S.A. bought a new position in Exact Sciences in the 2nd quarter valued at $29,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Exact Sciences during the 3rd quarter valued at $34,000. Capital Performance Advisors LLP bought a new position in shares of Exact Sciences in the third quarter worth $35,000. Finally, Vestor Capital LLC purchased a new stake in shares of Exact Sciences in the third quarter worth $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.