Canaccord Genuity Group Increases Exact Sciences (NASDAQ:EXAS) Price Target to $95.00

Exact Sciences (NASDAQ:EXAS - Free Report) had its target price upped by Canaccord Genuity Group from $75.00 to $95.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a buy rating on the medical research company's stock.

Several other research firms also recently issued reports on EXAS. Stifel Nicolaus decreased their price objective on shares of Exact Sciences from $100.00 to $82.00 and set a "buy" rating for the company in a report on Thursday, August 1st. Raymond James reissued a "market perform" rating on shares of Exact Sciences in a report on Thursday, September 26th. Wells Fargo & Company initiated coverage on shares of Exact Sciences in a report on Tuesday, August 27th. They issued an "overweight" rating and a $75.00 price target for the company. Benchmark reduced their price target on shares of Exact Sciences from $91.00 to $67.00 and set a "buy" rating for the company in a report on Thursday, August 1st. Finally, The Goldman Sachs Group reduced their price target on shares of Exact Sciences from $88.00 to $75.00 and set a "buy" rating for the company in a report on Wednesday, July 17th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $79.92.

Exact Sciences Stock Up 0.4 %

EXAS stock traded up $0.29 during trading hours on Tuesday, hitting $69.64. The company's stock had a trading volume of 1,293,761 shares, compared to its average volume of 2,537,046. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $12.85 billion, a PE ratio of -52.76 and a beta of 1.27. Exact Sciences has a 12 month low of $40.62 and a 12 month high of $79.62. The stock has a 50 day moving average price of $66.20 and a two-hundred day moving average price of $56.42.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its earnings results on Wednesday, July 31st. The medical research company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.28. The company had revenue of $699.26 million during the quarter, compared to the consensus estimate of $690.02 million. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The company's revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.45) earnings per share. On average, equities research analysts expect that Exact Sciences will post -0.87 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Brian Baranick sold 929 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the sale, the executive vice president now owns 13,687 shares in the company, valued at $958,090. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.36% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Exact Sciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Exact Sciences by 16.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,196 shares of the medical research company's stock valued at $6,160,000 after acquiring an additional 12,349 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Exact Sciences by 5.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 207,364 shares of the medical research company's stock valued at $14,361,000 after purchasing an additional 10,356 shares during the last quarter. Profund Advisors LLC boosted its stake in shares of Exact Sciences by 239.8% in the 2nd quarter. Profund Advisors LLC now owns 78,589 shares of the medical research company's stock valued at $3,320,000 after purchasing an additional 55,459 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of Exact Sciences in the 2nd quarter valued at about $163,896,000. Finally, Grandfield & Dodd LLC boosted its stake in shares of Exact Sciences by 142.5% in the 1st quarter. Grandfield & Dodd LLC now owns 55,224 shares of the medical research company's stock valued at $3,814,000 after purchasing an additional 32,453 shares during the last quarter. Institutional investors and hedge funds own 88.82% of the company's stock.

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.