IFP Advisors Inc Raises Position in Exact Sciences Co. (NASDAQ:EXAS)

IFP Advisors Inc grew its holdings in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 12,363.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,383 shares of the medical research company's stock after purchasing an additional 39,067 shares during the period. IFP Advisors Inc's holdings in Exact Sciences were worth $2,214,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Huntington National Bank lifted its holdings in shares of Exact Sciences by 838.1% during 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. RPg Family Wealth Advisory LLC purchased a new stake in shares of Exact Sciences during the 3rd quarter valued at $34,000. Capital Performance Advisors LLP acquired a new position in shares of Exact Sciences in the 3rd quarter valued at $35,000. Asset Planning Inc acquired a new position in shares of Exact Sciences in the 4th quarter valued at $40,000. Finally, Modus Advisors LLC acquired a new position in shares of Exact Sciences in the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 88.82% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on EXAS shares. William Blair reissued an "outperform" rating on shares of Exact Sciences in a research report on Thursday, February 20th. TD Cowen upped their target price on Exact Sciences from $82.00 to $86.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Stifel Nicolaus cut their target price on Exact Sciences from $82.00 to $67.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. The Goldman Sachs Group cut their target price on Exact Sciences from $75.00 to $65.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. Finally, Citigroup cut their target price on Exact Sciences from $80.00 to $75.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $71.94.

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Exact Sciences Price Performance

Shares of EXAS stock traded down $0.41 during mid-day trading on Friday, hitting $47.41. 3,106,807 shares of the stock were exchanged, compared to its average volume of 2,341,992. The firm has a fifty day moving average of $53.93 and a 200 day moving average of $59.72. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week 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.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its earnings results 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 for the quarter, compared to analyst estimates of $701.45 million. Research analysts anticipate that Exact Sciences Co. will post -0.58 earnings per share for the current year.

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.