Exact Sciences (NASDAQ:EXAS) Now Covered by Analysts at Royal Bank of Canada

Royal Bank of Canada assumed coverage on shares of Exact Sciences (NASDAQ:EXAS) in a report released on Thursday, MarketBeat reports. The brokerage issued a sector perform rating and a $52.00 target price on the medical research company’s stock.

A number of other research firms have also recently weighed in on EXAS. TD Cowen boosted their price target on Exact Sciences from $82.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Bank of America cut their price target on Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Barclays cut their price target on Exact Sciences from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Piper Sandler dropped their target price on Exact Sciences from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Scotiabank upped their target price on Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a research note on Monday, February 24th. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $70.83.

Exact Sciences Stock Performance

Shares of EXAS stock opened at $45.00 on Thursday. The stock has a fifty day moving average price of $51.73 and a 200 day moving average price of $58.84. The stock has a market cap of $8.36 billion, a PE ratio of -8.08 and a beta of 1.25. Exact Sciences has a 1 year low of $40.62 and a 1 year 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.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.23. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. The firm had revenue of $713.42 million during the quarter, compared to analysts’ expectations of $701.45 million. Sell-side analysts forecast that Exact Sciences will post -0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Exact Sciences

A number of institutional investors have recently added to or reduced their stakes in EXAS. Huntington National Bank grew its position 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 during the period. RPg Family Wealth Advisory LLC purchased a new stake in shares of Exact Sciences in the third quarter worth about $34,000. Asset Planning Inc purchased a new stake in shares of Exact Sciences in the fourth quarter worth about $40,000. Modus Advisors LLC purchased a new stake in shares of Exact Sciences in the fourth quarter worth about $43,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Exact Sciences in the fourth quarter worth about $45,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

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.