9,157 Shares in Exact Sciences Co. (NASDAQ:EXAS) Acquired by Advisors Capital Management LLC

Advisors Capital Management LLC purchased a new position in Exact Sciences Co. (NASDAQ:EXAS - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 9,157 shares of the medical research company's stock, valued at approximately $515,000.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in Exact Sciences during the fourth quarter worth about $50,625,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Exact Sciences by 63.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 549,262 shares of the medical research company's stock valued at $30,863,000 after acquiring an additional 213,557 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Exact Sciences during the 4th quarter worth $9,611,000. Artemis Investment Management LLP increased its stake in shares of Exact Sciences by 139.6% in the 4th quarter. Artemis Investment Management LLP now owns 255,842 shares of the medical research company's stock valued at $14,376,000 after acquiring an additional 149,067 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Exact Sciences by 57.2% during the 4th quarter. Invesco Ltd. now owns 379,683 shares of the medical research company's stock worth $21,334,000 after buying an additional 138,089 shares during the period. 88.82% of the stock is owned by institutional investors.

Exact Sciences Stock Performance

Shares of NASDAQ EXAS traded down $0.68 during midday trading on Friday, reaching $41.58. The company's stock had a trading volume of 3,157,616 shares, compared to its average volume of 2,603,963. Exact Sciences Co. has a 12-month low of $39.97 and a 12-month high of $72.83. The stock has a market capitalization of $7.72 billion, a P/E ratio of -7.46 and a beta of 1.14. The firm has a 50 day moving average price of $45.87 and a 200-day moving average price of $55.03. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.15 and a quick ratio of 1.93.

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

Analysts Set New Price Targets

Several equities research analysts have commented on EXAS shares. William Blair restated an "outperform" rating on shares of Exact Sciences in a research note on Thursday, February 20th. Guggenheim restated a "buy" rating and set a $60.00 price objective on shares of Exact Sciences in a research note on Friday, April 11th. Barclays lowered their price target on Exact Sciences from $65.00 to $55.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Bank of America reduced their price target on Exact Sciences from $72.00 to $65.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Finally, Piper Sandler decreased 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 report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Exact Sciences has a consensus rating of "Moderate Buy" and an average target price of $69.25.

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.