Inceptionr LLC Takes $406,000 Position in Exact Sciences Co. (NASDAQ:EXAS)

Inceptionr LLC acquired a new stake in shares of Exact Sciences Co. (NASDAQ:EXAS) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 7,230 shares of the medical research company’s stock, valued at approximately $406,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Thompson Investment Management Inc. raised its position in shares of Exact Sciences by 17.8% during the 4th quarter. Thompson Investment Management Inc. now owns 241,774 shares of the medical research company’s stock valued at $13,585,000 after purchasing an additional 36,505 shares during the period. WCM Investment Management LLC raised its position in shares of Exact Sciences by 1,153.2% during the 3rd quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company’s stock valued at $12,388,000 after purchasing an additional 172,821 shares during the period. Simplify Asset Management Inc. raised its position in shares of Exact Sciences by 67.5% during the 3rd quarter. Simplify Asset Management Inc. now owns 29,277 shares of the medical research company’s stock valued at $1,994,000 after purchasing an additional 11,800 shares during the period. Zacks Investment Management bought a new stake in shares of Exact Sciences during the 3rd quarter valued at $2,083,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Exact Sciences by 59.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 335,705 shares of the medical research company’s stock valued at $22,868,000 after purchasing an additional 125,192 shares during the period. 88.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

EXAS has been the subject of several research analyst reports. TD Cowen raised their target price on shares of Exact Sciences from $82.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Scotiabank raised their target price on shares of Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a research note on Monday, February 24th. Benchmark reaffirmed a “buy” rating and set a $65.00 target price on shares of Exact Sciences in a research note on Monday, January 13th. Bank of America cut their target price on shares of Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Finally, Piper Sandler cut their target price on shares of Exact Sciences from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $71.94.

Exact Sciences Price Performance

Exact Sciences stock opened at $47.06 on Friday. The firm has a 50-day moving average price of $52.88 and a 200-day moving average price of $59.35. The firm has a market capitalization of $8.74 billion, a PE ratio of -8.45 and a beta of 1.25. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. Exact Sciences Co. has a 12-month low of $40.62 and a 12-month high of $79.62.

Exact Sciences (NASDAQ:EXAS) last released its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.23. The firm had revenue of $713.42 million during the quarter, compared to analyst estimates of $701.45 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. As a group, equities research analysts forecast that Exact Sciences Co. will post -0.58 EPS for the current year.

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.