Exact Sciences’ (EXAS) “Market Perform” Rating Reaffirmed at Raymond James

Raymond James reaffirmed their market perform rating on shares of Exact Sciences (NASDAQ:EXAS) in a research note published on Thursday morning, Benzinga reports.

A number of other brokerages have also weighed in on EXAS. Wells Fargo & Company initiated coverage on Exact Sciences in a research report on Tuesday, August 27th. They set an overweight rating and a $75.00 price objective for the company. Evercore ISI cut their price target on Exact Sciences from $80.00 to $72.00 and set an outperform rating for the company in a report on Tuesday, July 2nd. The Goldman Sachs Group decreased their price objective on Exact Sciences from $88.00 to $75.00 and set a buy rating on the stock in a report on Wednesday, July 17th. Jefferies Financial Group started coverage on shares of Exact Sciences in a report on Monday, June 3rd. They issued a buy rating and a $75.00 target price for the company. Finally, Benchmark lowered their price objective on shares of Exact Sciences from $91.00 to $67.00 and set a buy rating for the company in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $77.77.

Exact Sciences Stock Down 2.9 %

NASDAQ EXAS opened at $65.96 on Thursday. Exact Sciences has a 12 month low of $40.62 and a 12 month high of $79.62. The company has a current ratio of 2.17, a quick ratio of 1.98 and a debt-to-equity ratio of 0.73. The stock has a market cap of $12.17 billion, a PE ratio of -49.97 and a beta of 1.26. The stock’s 50 day moving average is $59.32 and its 200 day moving average is $56.12.

Exact Sciences (NASDAQ:EXAS) last released its earnings results on Wednesday, July 31st. The medical research company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.28. The firm had revenue of $699.26 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.45) earnings per share. Research analysts predict that Exact Sciences will post -0.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the sale, the executive vice president now directly owns 13,687 shares of the company’s stock, valued at $958,090. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.36% of the company’s stock.

Institutional Investors Weigh In On Exact Sciences

Several large investors have recently added to or reduced their stakes in EXAS. Janney Montgomery Scott LLC increased its position in shares of Exact Sciences by 5.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 14,901 shares of the medical research company’s stock worth $1,102,000 after acquiring an additional 759 shares during the period. Corient Private Wealth LLC increased its holdings in Exact Sciences by 42.0% during the 4th quarter. Corient Private Wealth LLC now owns 28,836 shares of the medical research company’s stock worth $2,133,000 after purchasing an additional 8,530 shares during the period. Quest Partners LLC bought a new stake in Exact Sciences during the 4th quarter valued at $66,000. Assetmark Inc. lifted its holdings in shares of Exact Sciences by 39.0% in the 4th quarter. Assetmark Inc. now owns 3,035 shares of the medical research company’s stock worth $225,000 after buying an additional 851 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Exact Sciences by 2.8% during the 4th quarter. Franklin Resources Inc. now owns 31,496 shares of the medical research company’s stock worth $2,330,000 after buying an additional 872 shares in the last quarter. 88.82% of the stock is owned by hedge funds and other institutional investors.

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.