Analysts Set Exact Sciences Co. (NASDAQ:EXAS) Price Target at $72.94

Shares of Exact Sciences Co. (NASDAQ:EXAS - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eighteen analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $72.94.

EXAS has been the subject of several recent analyst reports. Piper Sandler decreased their price objective on shares of Exact Sciences from $85.00 to $75.00 and set an "overweight" rating for the company in a report on Monday, November 11th. Canaccord Genuity Group lowered their price target on Exact Sciences from $95.00 to $75.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. Citigroup dropped their price objective on Exact Sciences from $80.00 to $75.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Robert W. Baird lowered their target price on Exact Sciences from $70.00 to $67.00 and set an "outperform" rating on the stock in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group cut their price target on Exact Sciences from $75.00 to $65.00 and set a "buy" rating for the company in a report on Wednesday, November 6th.

Exact Sciences Stock Down 0.7 %

NASDAQ:EXAS traded down $0.42 during trading hours on Wednesday, reaching $56.68. The company's stock had a trading volume of 2,499,536 shares, compared to its average volume of 1,840,427. Exact Sciences has a one year low of $40.62 and a one year high of $79.62. The business's 50-day moving average is $58.61 and its 200-day moving average is $58.59. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93. The company has a market cap of $10.49 billion, a price-to-earnings ratio of -48.44 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). The company had revenue of $708.66 million for the quarter, compared to analyst estimates of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. Exact Sciences's revenue for the quarter was up 12.8% on a year-over-year basis. Equities research analysts predict that Exact Sciences will post -1.13 EPS for the current year.

Insider Transactions at Exact Sciences

In other news, CEO Kevin T. Conroy bought 19,500 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The stock was acquired at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the transaction, the chief executive officer now directly owns 1,074,191 shares of the company's stock, valued at $55,159,707.85. This trade represents a 1.85 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.36% of the stock is currently owned by insiders.

Institutional Trading of Exact Sciences

Large investors have recently added to or reduced their stakes in the company. William Blair Investment Management LLC acquired a new position in shares of Exact Sciences in the 2nd quarter worth approximately $163,896,000. Groupama Asset Managment bought a new stake in shares of Exact Sciences during the third quarter worth $821,000. Sculptor Capital LP acquired a new stake in shares of Exact Sciences in the second quarter valued at $32,819,000. Samlyn Capital LLC bought a new position in shares of Exact Sciences in the second quarter valued at about $30,426,000. Finally, Armistice Capital LLC raised its holdings in shares of Exact Sciences by 91.6% in the second quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company's stock valued at $59,154,000 after buying an additional 669,438 shares during the last quarter. 88.82% of the stock is owned by institutional investors.

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.