Exact Sciences Co. (NASDAQ:EXAS) Given Average Rating of "Moderate Buy" by Brokerages

Exact Sciences Co. (NASDAQ:EXAS - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the nineteen brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $71.94.

Several brokerages recently commented on EXAS. TD Cowen upped their price target on shares of Exact Sciences from $82.00 to $86.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. William Blair reaffirmed an "outperform" rating on shares of Exact Sciences in a research note on Thursday, February 20th. Piper Sandler reduced their price target on Exact Sciences from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Wednesday. The Goldman Sachs Group dropped their price objective on Exact Sciences from $75.00 to $65.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Finally, Canaccord Genuity Group reduced their target price on Exact Sciences from $95.00 to $75.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th.

Exact Sciences Stock Down 0.9 %

EXAS stock traded down $0.41 during midday trading on Thursday, hitting $47.41. The company's stock had a trading volume of 3,106,807 shares, compared to its average volume of 2,341,992. The firm's 50-day moving average is $53.93 and its 200-day moving average is $59.72. Exact Sciences has a 12 month low of $40.62 and a 12 month high of $79.62. The company has a market cap of $8.81 billion, a PE ratio of -8.51 and a beta of 1.24. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97.

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

Hedge Funds Weigh In On Exact Sciences

A number of large investors have recently made changes to their positions in EXAS. Price T Rowe Associates Inc. MD grew its holdings in shares of Exact Sciences by 74.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,760,241 shares of the medical research company's stock worth $323,669,000 after acquiring an additional 2,462,165 shares during the period. Capital World Investors grew its holdings in Exact Sciences by 10.7% in the fourth quarter. Capital World Investors now owns 17,537,617 shares of the medical research company's stock valued at $985,439,000 after purchasing an additional 1,696,321 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Exact Sciences by 107.7% in the fourth quarter. Mackenzie Financial Corp now owns 2,919,325 shares of the medical research company's stock valued at $164,037,000 after buying an additional 1,513,873 shares in the last quarter. Groupama Asset Managment acquired a new position in shares of Exact Sciences during the 3rd quarter worth $821,000. Finally, Norges Bank purchased a new stake in shares of Exact Sciences in the 4th quarter worth about $50,625,000. 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.