Exact Sciences Co. (NASDAQ:EXAS) Receives $70.83 Consensus Target Price from Analysts

Exact Sciences Co. (NASDAQ:EXAS) has received a consensus rating of “Moderate Buy” from the twenty ratings firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have 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 updated their coverage on the stock in the last year is $70.83.

Several brokerages have commented on EXAS. Barclays lowered their target price on shares of Exact Sciences from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Benchmark restated a “buy” rating and issued a $65.00 price objective on shares of Exact Sciences in a research report on Monday, January 13th. William Blair reiterated an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 20th. Bank of America lowered 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. Finally, Piper Sandler cut their price objective on Exact Sciences from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th.

Hedge Funds Weigh In On Exact Sciences

Several hedge funds have recently modified their holdings of the stock. Thompson Investment Management Inc. boosted its position in Exact Sciences by 17.8% during the fourth quarter. Thompson Investment Management Inc. now owns 241,774 shares of the medical research company’s stock valued at $13,585,000 after purchasing an additional 36,505 shares during the last quarter. Zacks Investment Management bought a new stake in shares of Exact Sciences during the 3rd quarter worth approximately $2,083,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Exact Sciences by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,292,090 shares of the medical research company’s stock valued at $88,017,000 after buying an additional 45,015 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Exact Sciences by 35.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 95,827 shares of the medical research company’s stock valued at $5,385,000 after buying an additional 24,992 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in Exact Sciences by 32.2% during the fourth quarter. Jones Financial Companies Lllp now owns 9,508 shares of the medical research company’s stock worth $534,000 after buying an additional 2,315 shares during the last quarter. Institutional investors own 88.82% of the company’s stock.

Exact Sciences Stock Down 1.6 %

Shares of Exact Sciences stock opened at $44.92 on Monday. Exact Sciences has a 12 month low of $40.62 and a 12 month high of $79.62. The business has a fifty day simple moving average of $49.98 and a 200 day simple moving average of $58.00. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97. The stock has a market cap of $8.34 billion, a PE ratio of -8.06 and a beta of 1.25.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results 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. The company had revenue of $713.42 million during the quarter, compared to analyst estimates of $701.45 million. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. Research analysts predict that Exact Sciences will post -0.58 EPS for the current year.

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.