Mizuho Initiates Coverage on Exact Sciences (NASDAQ:EXAS)

Analysts at Mizuho started coverage on shares of Exact Sciences (NASDAQ:EXAS - Get Free Report) in a report issued on Thursday, Marketbeat.com reports. The brokerage set an "outperform" rating and a $60.00 price target on the medical research company's stock. Mizuho's target price indicates a potential upside of 39.57% from the stock's current price.

A number of other research analysts have also weighed in on EXAS. Bank of America dropped their target price on Exact Sciences from $72.00 to $65.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Benchmark reissued a "buy" rating and set a $65.00 price target on shares of Exact Sciences in a research report on Monday, January 13th. Piper Sandler decreased their price objective on shares of Exact Sciences from $75.00 to $70.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Royal Bank of Canada began coverage on Exact Sciences in a research note on Thursday, March 13th. They issued a "sector perform" rating and a $52.00 target price on the stock. Finally, Barclays decreased their price target on Exact Sciences from $70.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, February 20th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $69.25.

Exact Sciences Stock Down 2.8 %

EXAS stock traded down $1.26 during trading on Thursday, reaching $42.99. 646,710 shares of the stock were exchanged, compared to its average volume of 2,597,972. The firm has a market cap of $7.99 billion, a P/E ratio of -7.72 and a beta of 1.14. Exact Sciences has a twelve month low of $39.97 and a twelve month high of $72.83. The firm's 50 day moving average is $46.72 and its 200 day moving average is $55.57. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last announced 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 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 analyst estimates of $701.45 million. As a group, research analysts forecast that Exact Sciences will post -0.58 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EXAS. Integrated Advisors Network LLC raised its holdings in Exact Sciences by 5.7% in the 1st quarter. Integrated Advisors Network LLC now owns 7,036 shares of the medical research company's stock worth $305,000 after purchasing an additional 379 shares during the period. GAMMA Investing LLC raised its stake in shares of Exact Sciences by 15.5% in the first quarter. GAMMA Investing LLC now owns 4,243 shares of the medical research company's stock worth $184,000 after buying an additional 569 shares during the period. Pallas Capital Advisors LLC purchased a new position in shares of Exact Sciences during the 1st quarter valued at about $368,000. Park Avenue Securities LLC grew its stake in shares of Exact Sciences by 6.1% during the 1st quarter. Park Avenue Securities LLC now owns 25,335 shares of the medical research company's stock valued at $1,097,000 after acquiring an additional 1,449 shares during the period. Finally, Merit Financial Group LLC increased its holdings in Exact Sciences by 110.0% in the 1st quarter. Merit Financial Group LLC now owns 8,799 shares of the medical research company's stock worth $381,000 after acquiring an additional 4,609 shares in the last quarter. 88.82% of the stock is currently 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.