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

Shares of Exact Sciences Co. (NASDAQ:EXAS - Get Free Report) have been given a consensus rating of "Moderate Buy" by the twenty research firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $70.83.

Several equities analysts have commented on EXAS shares. Barclays dropped their target price on shares of Exact Sciences from $70.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, February 20th. Royal Bank of Canada assumed coverage on Exact Sciences in a research note on Thursday, March 13th. They set a "sector perform" rating and a $52.00 target price on the stock. Benchmark reissued a "buy" rating and issued a $65.00 price target on shares of Exact Sciences in a report on Monday, January 13th. Piper Sandler dropped their target price on shares of Exact Sciences from $75.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Finally, Scotiabank lifted their price target on shares of Exact Sciences from $70.00 to $73.00 and gave the stock a "sector outperform" rating in a report on Monday, February 24th.

Exact Sciences Stock Down 3.3 %

EXAS traded down $1.56 during midday trading on Monday, reaching $45.53. 427,106 shares of the company were exchanged, compared to its average volume of 2,615,304. The company has a market cap of $8.46 billion, a price-to-earnings ratio of -8.18 and a beta of 1.25. Exact Sciences has a one year low of $40.62 and a one year high of $79.62. The company's fifty day moving average price is $50.32 and its 200 day moving average price is $58.18. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15.

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

Hedge Funds Weigh In On Exact Sciences

A number of hedge funds have recently bought and sold shares of EXAS. Perigon Wealth Management LLC raised its stake in shares of Exact Sciences by 3.2% in the fourth quarter. Perigon Wealth Management LLC now owns 8,436 shares of the medical research company's stock worth $474,000 after buying an additional 264 shares during the period. Sanctuary Advisors LLC raised its stake in Exact Sciences by 2.0% during the 4th quarter. Sanctuary Advisors LLC now owns 13,625 shares of the medical research company's stock worth $763,000 after acquiring an additional 269 shares during the period. Daiwa Securities Group Inc. raised its stake in Exact Sciences by 2.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 14,447 shares of the medical research company's stock worth $812,000 after acquiring an additional 300 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Exact Sciences by 1.4% in the third quarter. Advisors Asset Management Inc. now owns 28,650 shares of the medical research company's stock worth $1,952,000 after purchasing an additional 402 shares during the period. Finally, Intech Investment Management LLC increased its stake in shares of 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 purchasing an additional 402 shares in the last quarter. 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.