Exact Sciences Corporation (NASDAQ:EXAS) Given Average Recommendation of “Hold” by Brokerages

Shares of Exact Sciences Corporation (NASDAQ:EXAS) have been given an average rating of “Hold” by the twenty-six brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, twenty have assigned a hold recommendation, three have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $87.0556.

Several brokerages have recently commented on EXAS. Canaccord Genuity Group cut shares of Exact Sciences from a “buy” rating to a “hold” rating and increased their price target for the stock from $85.00 to $105.00 in a research report on Tuesday, November 25th. Citigroup cut Exact Sciences from a “buy” rating to a “hold” rating in a research note on Thursday, November 20th. Barclays reiterated an “equal weight” rating and issued a $105.00 target price (up previously from $77.00) on shares of Exact Sciences in a research report on Thursday, November 20th. Wall Street Zen lowered Exact Sciences from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Evercore ISI set a $105.00 price objective on Exact Sciences and gave the stock an “in-line” rating in a research note on Monday, January 5th.

Insiders Place Their Bets

In other Exact Sciences news, EVP Jacob A. Orville sold 5,000 shares of the stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $75.00, for a total transaction of $375,000.00. Following the completion of the transaction, the executive vice president directly owned 23,237 shares of the company’s stock, valued at approximately $1,742,775. This trade represents a 17.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Brian Baranick sold 2,858 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $70.08, for a total value of $200,288.64. Following the transaction, the executive vice president directly owned 22,368 shares of the company’s stock, valued at $1,567,549.44. This represents a 11.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.20% of the stock is currently owned by company insiders.

Institutional Trading of Exact Sciences

Hedge funds and other institutional investors have recently modified their holdings of the business. True Wealth Design LLC grew its holdings in shares of Exact Sciences by 951.8% in the 2nd quarter. True Wealth Design LLC now owns 589 shares of the medical research company’s stock worth $31,000 after purchasing an additional 533 shares during the last quarter. Westside Investment Management Inc. lifted its stake in shares of Exact Sciences by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 542 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 271 shares during the period. Country Trust Bank bought a new position in shares of Exact Sciences in the 2nd quarter worth $32,000. Bessemer Group Inc. grew its stake in shares of Exact Sciences by 1,980.6% during the second quarter. Bessemer Group Inc. now owns 645 shares of the medical research company’s stock worth $34,000 after purchasing an additional 614 shares during the period. Finally, Parallel Advisors LLC raised its position in shares of Exact Sciences by 120.1% in the 2nd quarter. Parallel Advisors LLC now owns 799 shares of the medical research company’s stock valued at $42,000 after acquiring an additional 436 shares during the period. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Price Performance

EXAS stock opened at $102.43 on Friday. The company has a market cap of $19.54 billion, a PE ratio of -19.25, a price-to-earnings-growth ratio of 2.42 and a beta of 1.40. The company has a current ratio of 2.72, a quick ratio of 2.44 and a debt-to-equity ratio of 0.93. The stock has a 50-day moving average price of $96.52 and a two-hundred day moving average price of $68.59. Exact Sciences has a 12-month low of $38.81 and a 12-month high of $102.66.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Monday, November 3rd. The medical research company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.11. The firm had revenue of $850.74 million for the quarter, compared to analysts’ expectations of $810.42 million. Exact Sciences had a negative net margin of 32.01% and a positive return on equity of 1.67%. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.21) earnings per share. As a group, research analysts predict that Exact Sciences will post -0.58 EPS for the current year.

About Exact Sciences

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.