Exact Sciences (NASDAQ:EXAS) Sees Unusually-High Trading Volume

Exact Sciences Co. (NASDAQ:EXAS) shares saw unusually-strong trading volume on Monday . Approximately 1,946,966 shares were traded during mid-day trading, a decline of 27% from the previous session’s volume of 2,650,213 shares.The stock last traded at $67.51 and had previously closed at $65.54.

Analyst Ratings Changes

A number of analysts recently weighed in on EXAS shares. Scotiabank started coverage on Exact Sciences in a report on Thursday, June 27th. They issued a “sector outperform” rating and a $70.00 price objective for the company. Evercore ISI cut their price objective on shares of Exact Sciences from $80.00 to $72.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Stifel Nicolaus cut their price objective on shares of Exact Sciences from $100.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. BTIG Research cut their price objective on shares of Exact Sciences from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Finally, Benchmark cut their price objective on shares of Exact Sciences from $91.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.14.

Exact Sciences Stock Performance

The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.98 and a current ratio of 2.17. The stock has a market cap of $12.71 billion, a PE ratio of -52.51 and a beta of 1.26. The company’s 50 day simple moving average is $54.89 and its 200 day simple moving average is $55.44.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Wednesday, July 31st. The medical research company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.28. The firm had revenue of $699.26 million during the quarter, compared to analyst estimates of $690.02 million. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.45) EPS. Analysts expect that Exact Sciences Co. will post -0.87 earnings per share for the current year.

Institutional Investors Weigh In On Exact Sciences

Large investors have recently modified their holdings of the stock. Itau Unibanco Holding S.A. purchased a new stake in shares of Exact Sciences during the 2nd quarter worth approximately $29,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Exact Sciences by 65.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock worth $31,000 after purchasing an additional 179 shares during the last quarter. Able Wealth Management LLC purchased a new stake in shares of Exact Sciences during the 4th quarter worth approximately $45,000. EverSource Wealth Advisors LLC increased its stake in shares of Exact Sciences by 92.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock worth $49,000 after purchasing an additional 340 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in shares of Exact Sciences during the 1st quarter worth approximately $55,000. Hedge funds and other 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.