Exact Sciences Corporation (NASDAQ:EXAS) Receives Average Rating of “Reduce” from Analysts

Shares of Exact Sciences Corporation (NASDAQ:EXAS) have been assigned a consensus rating of “Reduce” from the twenty-two ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and twenty-one have issued a hold recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $92.1250.

EXAS has been the topic of several research analyst reports. Guggenheim cut Exact Sciences from a “buy” rating to a “neutral” rating in a research note on Thursday, November 20th. TD Cowen lowered Exact Sciences from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Barclays reiterated an “equal weight” rating and issued a $105.00 target price (up from $77.00) on shares of Exact Sciences in a report on Thursday, November 20th. Zacks Research downgraded Exact Sciences from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Finally, Piper Sandler lowered Exact Sciences from an “overweight” rating to a “hold” rating and set a $105.00 price target on the stock. in a research note on Monday, November 24th.

Exact Sciences Trading Up 0.2%

Shares of EXAS opened at $103.50 on Monday. The firm has a market capitalization of $19.76 billion, a price-to-earnings ratio of -94.09, a PEG ratio of 2.36 and a beta of 1.41. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.43 and a quick ratio of 2.17. Exact Sciences has a 1-year low of $38.81 and a 1-year high of $103.67. The company has a 50-day moving average of $102.65 and a 200 day moving average of $82.12.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Friday, February 13th. The medical research company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.29). Exact Sciences had a positive return on equity of 0.53% and a negative net margin of 6.40%.The business’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.06) earnings per share. On average, research analysts expect that Exact Sciences will post -0.58 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. HBK Investments L P purchased a new stake in shares of Exact Sciences in the 4th quarter worth approximately $776,592,000. Pentwater Capital Management LP purchased a new position in Exact Sciences during the fourth quarter valued at approximately $736,310,000. Ameriprise Financial Inc. raised its stake in Exact Sciences by 105.8% in the third quarter. Ameriprise Financial Inc. now owns 4,493,085 shares of the medical research company’s stock worth $245,802,000 after buying an additional 2,310,139 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Exact Sciences by 31.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,909,501 shares of the medical research company’s stock worth $213,889,000 after buying an additional 939,888 shares during the period. Finally, Norges Bank purchased a new stake in Exact Sciences during the fourth quarter worth $348,425,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Company Profile

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.