Exact Sciences Co. (NASDAQ:EXAS) Receives Consensus Recommendation of “Buy” from Analysts

Exact Sciences Co. (NASDAQ:EXAS) has been given an average recommendation of “Buy” by the fifteen ratings firms that are presently covering the firm, Marketbeat.com reports. Fifteen analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $78.50.

EXAS has been the subject of a number of recent research reports. Canaccord Genuity Group reduced their price objective on Exact Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. BTIG Research decreased their price target on Exact Sciences from $80.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Benchmark lowered their price objective on Exact Sciences from $91.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Citigroup cut their target price on shares of Exact Sciences from $100.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, Scotiabank started coverage on shares of Exact Sciences in a report on Thursday, June 27th. They set a “sector outperform” rating and a $70.00 price target on the stock.

Institutional Trading of Exact Sciences

A number of institutional investors have recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in Exact Sciences during the second quarter worth approximately $29,000. Benjamin F. Edwards & Company Inc. lifted its position in Exact Sciences by 65.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock worth $31,000 after buying an additional 179 shares in the last quarter. Able Wealth Management LLC purchased a new position in Exact Sciences during the fourth quarter worth approximately $45,000. EverSource Wealth Advisors LLC lifted its position in Exact Sciences by 92.4% during the first quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock worth $49,000 after buying an additional 340 shares in the last quarter. Finally, Fortitude Family Office LLC purchased a new position in Exact Sciences during the first quarter worth approximately $55,000. 88.82% of the stock is owned by institutional investors and hedge funds.

Exact Sciences Trading Down 4.8 %

NASDAQ EXAS opened at $57.13 on Thursday. The company has a fifty day simple moving average of $52.27 and a two-hundred day simple moving average of $55.33. The stock has a market cap of $10.54 billion, a P/E ratio of -43.28 and a beta of 1.22. Exact Sciences has a 12-month low of $40.62 and a 12-month high of $85.15. The company has a current ratio of 2.17, a quick ratio of 1.98 and a debt-to-equity ratio of 0.73.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.28. The business had revenue of $699.26 million during the quarter, compared to analysts’ expectations of $690.02 million. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.45) earnings per share. On average, analysts forecast that Exact Sciences will post -0.87 earnings per share for the current year.

About Exact Sciences

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.