Exact Sciences Co. (NASDAQ:EXAS) Receives $72.94 Consensus Target Price from Analysts

Exact Sciences Co. (NASDAQ:EXAS) has received an average recommendation of “Moderate Buy” from the eighteen brokerages that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $72.94.

Several research firms recently issued reports on EXAS. William Blair reiterated an “outperform” rating on shares of Exact Sciences in a report on Thursday, November 21st. Piper Sandler dropped their price target on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Canaccord Genuity Group decreased their price objective on Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Robert W. Baird dropped their target price on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Finally, Stifel Nicolaus lowered their price target on shares of Exact Sciences from $82.00 to $67.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th.

Insider Transactions at Exact Sciences

In other news, CEO Kevin T. Conroy purchased 19,500 shares of the stock in a transaction dated Wednesday, November 13th. The stock was acquired at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the transaction, the chief executive officer now directly owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. This represents a 1.85 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the completion of the sale, the executive vice president now directly owns 12,758 shares of the company’s stock, valued at $893,060. The trade was a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.36% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Huntington National Bank boosted its position in Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after buying an additional 352 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in Exact Sciences in the third quarter valued at $34,000. Capital Performance Advisors LLP acquired a new position in Exact Sciences during the 3rd quarter worth $35,000. Vestor Capital LLC purchased a new stake in Exact Sciences during the 3rd quarter worth about $46,000. Finally, V Square Quantitative Management LLC acquired a new stake in Exact Sciences in the 3rd quarter valued at about $47,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Trading Down 5.0 %

Shares of NASDAQ:EXAS opened at $57.38 on Friday. The business’s 50 day moving average price is $62.18 and its 200-day moving average price is $57.08. Exact Sciences has a 1 year low of $40.62 and a 1 year high of $79.62. The firm has a market capitalization of $10.62 billion, a price-to-earnings ratio of -49.04 and a beta of 1.24. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The company had revenue of $708.66 million for the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities research analysts forecast that Exact Sciences will post -1.13 earnings per share for the current fiscal year.

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.