Exact Sciences Co. (NASDAQ:EXAS) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Exact Sciences Co. (NASDAQ:EXAS) have received a consensus rating of “Moderate Buy” from the twenty-one brokerages that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $70.26.

Several research firms have commented on EXAS. Barclays lowered their price objective on shares of Exact Sciences from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Guggenheim set a $60.00 price target on shares of Exact Sciences and gave the company a “buy” rating in a report on Friday. Bank of America reduced their price objective on Exact Sciences from $72.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Royal Bank of Canada initiated coverage on Exact Sciences in a research note on Thursday, March 13th. They issued a “sector perform” rating and a $52.00 price objective for the company. Finally, Piper Sandler cut their target price on Exact Sciences from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th.

Exact Sciences Trading Down 3.0 %

Shares of EXAS stock opened at $43.66 on Monday. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $8.11 billion, a price-to-earnings ratio of -7.84 and a beta of 1.25. Exact Sciences has a 12-month low of $40.62 and a 12-month high of $79.62. The stock’s 50-day moving average price is $49.71 and its 200-day moving average price is $57.80.

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

Institutional Trading of Exact Sciences

A number of large investors have recently modified their holdings of EXAS. Perigon Wealth Management LLC raised its position in Exact Sciences by 3.2% during the 4th quarter. Perigon Wealth Management LLC now owns 8,436 shares of the medical research company’s stock valued at $474,000 after purchasing an additional 264 shares in the last quarter. Sanctuary Advisors LLC increased its stake in shares of Exact Sciences by 2.0% during the fourth quarter. Sanctuary Advisors LLC now owns 13,625 shares of the medical research company’s stock valued at $763,000 after buying an additional 269 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Exact Sciences by 2.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 14,447 shares of the medical research company’s stock valued at $812,000 after acquiring an additional 300 shares in the last quarter. Intech Investment Management LLC lifted its stake in Exact Sciences by 3.5% in the third quarter. Intech Investment Management LLC now owns 11,986 shares of the medical research company’s stock worth $816,000 after acquiring an additional 402 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in Exact Sciences by 1.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 28,650 shares of the medical research company’s stock worth $1,952,000 after acquiring an additional 402 shares in the last quarter. 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.