Exact Sciences (NASDAQ:EXAS) Price Target Raised to $66.00 at Evercore ISI

Exact Sciences (NASDAQ:EXAS) had its target price upped by Evercore ISI from $60.00 to $66.00 in a research report report published on Friday morning,Benzinga reports. They currently have an outperform rating on the medical research company’s stock.

Several other research firms have also issued reports on EXAS. Mizuho started coverage on shares of Exact Sciences in a research report on Thursday, April 10th. They set an “outperform” rating and a $60.00 price target on the stock. Royal Bank of Canada initiated coverage on Exact Sciences in a research report on Thursday, March 13th. They set a “sector perform” rating and a $52.00 target price on the stock. Bank of America lowered their target price on Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Benchmark restated a “buy” rating and set a $65.00 price target on shares of Exact Sciences in a report on Monday, January 13th. Finally, William Blair reiterated an “outperform” rating on shares of Exact Sciences in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Exact Sciences currently has a consensus rating of “Moderate Buy” and an average price target of $70.90.

Exact Sciences Price Performance

Shares of EXAS opened at $51.55 on Friday. The business has a 50-day simple moving average of $45.02 and a two-hundred day simple moving average of $53.20. Exact Sciences has a 12-month low of $39.97 and a 12-month high of $72.83. The stock has a market cap of $9.72 billion, a PE ratio of -9.25 and a beta of 0.92. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Thursday, May 1st. The medical research company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.16. The firm had revenue of $706.79 million for the quarter, compared to the consensus estimate of $688.58 million. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.60) EPS. Analysts anticipate that Exact Sciences will post -0.58 earnings per share for the current fiscal year.

Institutional Trading of Exact Sciences

Several institutional investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC boosted its holdings in Exact Sciences by 2,804.8% during the 1st quarter. Larson Financial Group LLC now owns 610 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 589 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Exact Sciences in the first quarter valued at approximately $34,000. Asset Planning Inc purchased a new stake in shares of Exact Sciences during the fourth quarter valued at approximately $40,000. Modus Advisors LLC bought a new position in shares of Exact Sciences in the fourth quarter worth approximately $43,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Exact Sciences in the fourth quarter worth $45,000. 88.82% of the stock is currently owned by hedge funds and other 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.