Exact Sciences (NASDAQ:EXAS) Price Target Raised to $75.00

Exact Sciences (NASDAQ:EXAS) had its price target hoisted by Barclays from $55.00 to $75.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the medical research company’s stock.

A number of other analysts also recently weighed in on the stock. Scotiabank increased their price target on shares of Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a report on Monday, February 24th. Mizuho initiated coverage on shares of Exact Sciences in a report on Thursday, April 10th. They issued an “outperform” rating and a $60.00 price target for the company. Piper Sandler cut their price target on Exact Sciences from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Royal Bank of Canada raised their price target on Exact Sciences from $52.00 to $54.00 and gave the stock a “sector perform” rating in a research report on Friday. Finally, Guggenheim reiterated a “buy” rating and set a $60.00 price objective on shares of Exact Sciences in a report on Friday, April 11th. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Exact Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $70.90.

Exact Sciences Stock Up 9.3 %

Exact Sciences stock opened at $51.55 on Friday. The company has a 50-day simple moving average of $45.02 and a 200-day simple moving average of $53.20. Exact Sciences has a one year low of $39.97 and a one year high of $72.83. The firm has a market capitalization of $9.72 billion, a P/E ratio of -9.25 and a beta of 0.92. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $706.79 million for the quarter, compared to the consensus estimate of $688.58 million. During the same quarter in the previous year, the company earned ($0.60) EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, equities analysts expect that Exact Sciences will post -0.58 earnings per share for the current year.

Institutional Investors Weigh In On Exact Sciences

Large investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Exact Sciences by 74.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,760,241 shares of the medical research company’s stock valued at $323,669,000 after acquiring an additional 2,462,165 shares in the last quarter. Capital World Investors lifted its holdings in Exact Sciences by 10.7% during the fourth quarter. Capital World Investors now owns 17,537,617 shares of the medical research company’s stock valued at $985,439,000 after purchasing an additional 1,696,321 shares in the last quarter. Mackenzie Financial Corp increased its stake in Exact Sciences by 107.7% during the 4th quarter. Mackenzie Financial Corp now owns 2,919,325 shares of the medical research company’s stock worth $164,037,000 after buying an additional 1,513,873 shares in the last quarter. Norges Bank purchased a new position in shares of Exact Sciences in the fourth quarter worth about $50,625,000. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in shares of Exact Sciences by 25.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,269,823 shares of the medical research company’s stock worth $239,922,000 after purchasing an additional 876,985 shares during the last quarter. Institutional investors own 88.82% of the company’s stock.

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.