Sanford C. Bernstein Issues Positive Forecast for Exact Sciences (NASDAQ:EXAS) Stock Price

Exact Sciences (NASDAQ:EXAS) had its price objective lifted by Sanford C. Bernstein from $75.00 to $90.00 in a research report report published on Wednesday, Benzinga reports. Sanford C. Bernstein currently has an outperform rating on the medical research company’s stock.

EXAS has been the subject of several other reports. Evercore ISI raised their target price on Exact Sciences from $72.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Piper Sandler upped their price objective on shares of Exact Sciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, September 12th. Benchmark reduced 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. Wells Fargo & Company started coverage on shares of Exact Sciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 target price for the company. Finally, Canaccord Genuity Group increased their target price on shares of Exact Sciences from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $80.64.

Exact Sciences Stock Performance

EXAS stock opened at $70.46 on Wednesday. The stock has a 50-day moving average price of $66.41 and a 200-day moving average price of $56.52. Exact Sciences has a 1-year low of $40.62 and a 1-year 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 firm has a market cap of $13.00 billion, a PE ratio of -53.38 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results 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 company had revenue of $699.26 million during the quarter, compared to the consensus estimate of $690.02 million. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the business posted ($0.45) EPS. As a group, equities research analysts expect that Exact Sciences will post -0.87 earnings per share for the current year.

Insiders Place Their Bets

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 12,758 shares in the company, valued at $893,060. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.36% of the company’s stock.

Institutional Trading of Exact Sciences

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Chicago Partners Investment Group LLC raised its position in shares of Exact Sciences by 1.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company’s stock valued at $651,000 after buying an additional 158 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Exact Sciences by 1.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 11,947 shares of the medical research company’s stock valued at $825,000 after buying an additional 200 shares in the last quarter. Amalgamated Bank raised its position in shares of Exact Sciences by 2.7% during the 2nd quarter. Amalgamated Bank now owns 10,937 shares of the medical research company’s stock valued at $462,000 after buying an additional 284 shares in the last quarter. Midwest Professional Planners LTD. raised its position in shares of Exact Sciences by 12.3% during the 1st quarter. Midwest Professional Planners LTD. now owns 3,088 shares of the medical research company’s stock valued at $213,000 after buying an additional 339 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position 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 valued at $49,000 after buying an additional 340 shares in the last quarter. Hedge funds and other institutional investors own 88.82% of the company’s stock.

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.