Exact Sciences (NASDAQ:EXAS) Trading Up 3.6% Following Analyst Upgrade

Exact Sciences Co. (NASDAQ:EXAS)’s stock price was up 3.6% during trading on Monday after Barclays raised their price target on the stock from $55.00 to $75.00. Barclays currently has an overweight rating on the stock. Exact Sciences traded as high as $53.87 and last traded at $53.43. Approximately 587,969 shares traded hands during trading, a decline of 78% from the average daily volume of 2,629,858 shares. The stock had previously closed at $51.55.

A number of other research analysts have also issued reports on the company. Evercore ISI boosted their price target on Exact Sciences from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Bank of America dropped their price target on Exact Sciences from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Robert W. Baird raised their target price on shares of Exact Sciences from $69.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Benchmark reissued a “buy” rating and set a $65.00 price target on shares of Exact Sciences in a research report on Monday, January 13th. Finally, Scotiabank lifted their target price on shares of 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 equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.90.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC lifted its holdings in shares of 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 worth $26,000 after acquiring an additional 589 shares during the period. Asset Planning Inc bought a new stake in Exact Sciences during the fourth quarter worth $40,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Exact Sciences in the 1st quarter valued at $34,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Exact Sciences in the 4th quarter valued at $45,000. Finally, AlphaQuest LLC raised its holdings in shares of Exact Sciences by 22,825.0% during the 4th quarter. AlphaQuest LLC now owns 917 shares of the medical research company’s stock worth $52,000 after buying an additional 913 shares in the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Trading Up 1.4 %

The firm has a 50-day moving average of $45.24 and a two-hundred day moving average of $53.07. The firm has a market capitalization of $10.19 billion, a P/E ratio of -9.70 and a beta of 0.92. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.16. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. The company had revenue of $706.79 million during the quarter, compared to analysts’ expectations of $688.58 million. During the same period in the prior year, the company earned ($0.60) EPS. Exact Sciences’s revenue was up 10.9% compared to the same quarter last year. On average, analysts anticipate that Exact Sciences Co. will post -0.58 EPS 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.