Exact Sciences (NASDAQ:EXAS) Trading 5.6% Higher - Time to Buy?

Exact Sciences Co. (NASDAQ:EXAS - Get Free Report) shares shot up 5.6% during mid-day trading on Monday . The company traded as high as $49.59 and last traded at $50.05. 652,919 shares were traded during mid-day trading, a decline of 72% from the average session volume of 2,298,266 shares. The stock had previously closed at $47.41.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EXAS. BTIG Research raised their price target on shares of Exact Sciences from $65.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. TD Cowen raised their price objective on Exact Sciences from $82.00 to $86.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. William Blair reaffirmed an "outperform" rating on shares of Exact Sciences in a research note on Thursday, February 20th. Barclays reduced their price target on shares of Exact Sciences from $70.00 to $65.00 and set an "overweight" rating on the stock in a research note on Thursday, February 20th. Finally, Bank of America dropped their target price on shares of Exact Sciences from $72.00 to $65.00 and set a "buy" rating for the company in a report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $71.94.

Exact Sciences Stock Up 0.9 %

The company has a debt-to-equity ratio of 0.97, a current ratio of 2.15 and a quick ratio of 1.93. The company has a market cap of $8.74 billion, a PE ratio of -8.45 and a beta of 1.24. The business's 50 day moving average is $53.09 and its 200-day moving average is $59.43.

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Exact Sciences (NASDAQ:EXAS - Get Free Report) 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 the consensus estimate 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 business had revenue of $713.42 million during the quarter, compared to analysts' expectations of $701.45 million. As a group, analysts predict that Exact Sciences Co. will post -0.58 EPS for the current year.

Institutional Investors Weigh In On Exact Sciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Perigon Wealth Management LLC raised its position in 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 acquiring an additional 264 shares in the last quarter. Sanctuary Advisors LLC increased its stake in shares of 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 purchasing an additional 269 shares in the last quarter. 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 worth $812,000 after acquiring an additional 300 shares during the last quarter. Huntington National Bank raised its stake in Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company's stock valued at $27,000 after purchasing an additional 352 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of Exact Sciences by 6.1% during the third quarter. CIBC Asset Management Inc now owns 6,489 shares of the medical research company's stock valued at $442,000 after buying an additional 371 shares during the period. Institutional investors and hedge funds own 88.82% of the company's stock.

Exact Sciences Company Profile

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.