Scotiabank Increases Exact Sciences (NASDAQ:EXAS) Price Target to $73.00

Exact Sciences (NASDAQ:EXAS - Free Report) had its target price hoisted by Scotiabank from $70.00 to $73.00 in a research note published on Monday morning,Benzinga reports. They currently have a sector outperform rating on the medical research company's stock.

EXAS has been the topic of a number of other research reports. Craig Hallum cut their price objective on Exact Sciences from $82.00 to $65.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. Canaccord Genuity Group cut their price target on Exact Sciences from $95.00 to $75.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. Barclays decreased their price objective on Exact Sciences from $70.00 to $65.00 and set an "overweight" rating for the company in a research note on Thursday, February 20th. Piper Sandler lowered their price objective on Exact Sciences from $85.00 to $75.00 and set an "overweight" rating for the company in a research report on Monday, November 11th. Finally, Stifel Nicolaus reduced their target price on shares of Exact Sciences from $82.00 to $67.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to data from MarketBeat, Exact Sciences has an average rating of "Moderate Buy" and a consensus price target of $71.94.

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Exact Sciences Trading Down 1.4 %

NASDAQ EXAS traded down $0.68 during trading on Monday, hitting $47.82. The stock had a trading volume of 2,339,157 shares, compared to its average volume of 2,321,875. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $8.88 billion, a PE ratio of -8.59 and a beta of 1.24. The firm has a 50 day moving average price of $54.17 and a 200 day moving average price of $59.79. Exact Sciences has a twelve month low of $40.62 and a twelve month high of $79.62.

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

Institutional Investors Weigh In On Exact Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Thompson Investment Management Inc. grew its holdings in shares of Exact Sciences by 17.8% during the fourth quarter. Thompson Investment Management Inc. now owns 241,774 shares of the medical research company's stock worth $13,585,000 after purchasing an additional 36,505 shares during the last quarter. WCM Investment Management LLC boosted its position in shares of Exact Sciences by 1,153.2% in the 3rd quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company's stock valued at $12,388,000 after purchasing an additional 172,821 shares during the period. Simplify Asset Management Inc. grew its stake in Exact Sciences by 67.5% during the 3rd quarter. Simplify Asset Management Inc. now owns 29,277 shares of the medical research company's stock worth $1,994,000 after buying an additional 11,800 shares during the last quarter. Zacks Investment Management acquired a new position in Exact Sciences during the third quarter worth approximately $2,083,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Exact Sciences by 59.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 335,705 shares of the medical research company's stock worth $22,868,000 after buying an additional 125,192 shares during the period. 88.82% of the stock is owned by hedge funds and other institutional investors.

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.