EXACT Sciences (NASDAQ:EXAS) has been assigned a $65.00 price objective by research analysts at Benchmark in a research note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the medical research company’s stock. Benchmark’s price target would suggest a potential upside of 36.33% from the company’s previous close.
Several other research firms also recently commented on EXAS. Canaccord Genuity upgraded EXACT Sciences to a “buy” rating and set a $60.00 target price for the company in a research report on Tuesday, October 31st. Leerink Swann reiterated an “outperform” rating and issued a $67.00 target price (up from $63.00) on shares of EXACT Sciences in a research report on Monday, November 13th. Robert W. Baird increased their target price on EXACT Sciences from $49.00 to $56.00 and gave the company an “outperform” rating in a research report on Tuesday, October 31st. Jefferies Group increased their price target on EXACT Sciences to $60.00 and gave the company a “buy” rating in a research note on Tuesday, October 31st. Finally, Craig Hallum increased their price target on EXACT Sciences from $46.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, October 31st. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $51.64.
EXACT Sciences (NASDAQ EXAS) traded down $5.27 during trading on Wednesday, reaching $47.68. The company’s stock had a trading volume of 14,210,000 shares, compared to its average volume of 2,150,000. The company has a quick ratio of 9.98, a current ratio of 10.34 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $5,710.00, a P/E ratio of -41.46 and a beta of 0.68. EXACT Sciences has a 1 year low of $16.95 and a 1 year high of $63.60.
In related news, insider Graham Peter Lidgard sold 45,770 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $58.27, for a total transaction of $2,667,017.90. Following the completion of the sale, the insider now owns 237,820 shares of the company’s stock, valued at $13,857,771.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP D Scott Coward sold 1,665 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $52.54, for a total value of $87,479.10. Following the sale, the senior vice president now directly owns 37,558 shares of the company’s stock, valued at approximately $1,973,297.32. The disclosure for this sale can be found here. In the last three months, insiders sold 610,433 shares of company stock valued at $34,341,306. Insiders own 4.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Crow Point Partners LLC acquired a new stake in EXACT Sciences during the fourth quarter worth approximately $145,000. Fortaleza Asset Management Inc. acquired a new stake in EXACT Sciences during the second quarter worth approximately $106,000. Oppenheimer Asset Management Inc. grew its stake in EXACT Sciences by 2,925.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 3,177 shares of the medical research company’s stock worth $150,000 after purchasing an additional 3,072 shares during the period. SG Americas Securities LLC acquired a new stake in EXACT Sciences during the third quarter worth approximately $183,000. Finally, Krilogy Financial LLC grew its stake in EXACT Sciences by 1,460.0% during the second quarter. Krilogy Financial LLC now owns 3,900 shares of the medical research company’s stock worth $138,000 after purchasing an additional 3,650 shares during the period. 82.39% of the stock is owned by institutional investors and hedge funds.
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EXACT Sciences Company Profile
Exact Sciences Corporation is a molecular diagnostics company. The Company focuses on the early detection and prevention of some forms of cancer. It offers a non-invasive screening test called Cologuard for the early detection of colorectal cancer and pre-cancer. Its Cologuard test is a stool-based deoxyribonucleic acid (sDNA) screening test, which utilizes a multi-target approach to detect deoxyribonucleic acid (DNA) and hemoglobin biomarkers associated with colorectal cancer and pre-cancer.
