Exact Sciences (NASDAQ:EXAS) Earns Outperform Rating from William Blair

Exact Sciences (NASDAQ:EXAS)‘s stock had its “outperform” rating reissued by investment analysts at William Blair in a research report issued on Thursday,RTT News reports.

Other analysts have also issued reports about the stock. Stifel Nicolaus reduced their price target on shares of Exact Sciences from $82.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Piper Sandler cut their target price on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Raymond James restated a “market perform” rating on shares of Exact Sciences in a report on Thursday, September 26th. Evercore ISI cut their price objective on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group lowered their target price on Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Exact Sciences currently has a consensus rating of “Moderate Buy” and an average price target of $74.47.

Exact Sciences Stock Down 0.3 %

Shares of NASDAQ:EXAS opened at $52.91 on Thursday. Exact Sciences has a 52 week low of $40.62 and a 52 week high of $79.62. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12. The company has a market cap of $9.79 billion, a PE ratio of -45.22 and a beta of 1.27. The firm has a 50 day simple moving average of $64.79 and a 200 day simple moving average of $55.90.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The business had revenue of $708.66 million during the quarter, compared to analyst estimates of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The firm’s revenue was up 12.8% compared to the same quarter last year. As a group, research analysts expect that Exact Sciences will post -1.08 earnings per share for the current year.

Insider Activity at Exact Sciences

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

Institutional Investors Weigh In On Exact Sciences

Several hedge funds and other institutional investors have recently modified their holdings of EXAS. Huntington National Bank boosted its holdings 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 purchasing an additional 352 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Exact Sciences during the second quarter valued at about $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Exact Sciences in the third quarter valued at about $34,000. Capital Performance Advisors LLP acquired a new stake in Exact Sciences during the third quarter worth about $35,000. Finally, Vestor Capital LLC bought a new position in Exact Sciences during the third quarter valued at about $46,000. Institutional investors and hedge funds 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.