Exact Sciences Co. (NASDAQ:EXAS) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of Exact Sciences Co. (NASDAQ:EXAS - Get Free Report) have earned an average rating of "Moderate Buy" from the fifteen analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $78.38.

EXAS has been the topic of a number of recent analyst reports. Raymond James reiterated a "market perform" rating on shares of Exact Sciences in a report on Thursday, September 26th. Evercore ISI raised their target price on Exact Sciences from $72.00 to $80.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 1st. Wells Fargo & Company initiated coverage on Exact Sciences in a research report on Tuesday, August 27th. They issued an "overweight" rating and a $75.00 target price for the company. Canaccord Genuity Group reissued a "buy" rating and issued a $75.00 target price on shares of Exact Sciences in a research report on Friday, September 13th. Finally, Scotiabank initiated coverage on Exact Sciences in a research report on Thursday, June 27th. They issued a "sector outperform" rating and a $70.00 target price for the company.

Insider Buying and Selling

In related news, EVP Brian Baranick sold 929 shares of the business's stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the transaction, the executive vice president now directly owns 12,758 shares in the company, valued at $893,060. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.36% of the stock is owned by company insiders.

Institutional Investors Weigh In On Exact Sciences

Hedge funds have recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. bought a new stake in shares of Exact Sciences in the 3rd quarter valued at about $402,000. Asahi Life Asset Management CO. LTD. bought a new stake in shares of Exact Sciences in the 3rd quarter valued at about $430,000. J.W. Cole Advisors Inc. bought a new stake in shares of Exact Sciences in the 3rd quarter valued at about $512,000. Forsta AP Fonden bought a new stake in shares of Exact Sciences in the 3rd quarter valued at about $2,643,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Exact Sciences in the 3rd quarter valued at about $49,000. Institutional investors own 88.82% of the company's stock.

Exact Sciences Stock Down 1.6 %

Shares of EXAS stock traded down $1.15 during trading hours on Friday, reaching $69.11. The company had a trading volume of 864,850 shares, compared to its average volume of 2,547,537. The business has a fifty day simple moving average of $65.56 and a 200-day simple moving average of $56.72. The company has a market cap of $12.75 billion, a price-to-earnings ratio of -53.23 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 company has a debt-to-equity ratio of 0.73, a current ratio of 2.17 and a quick ratio of 1.98.

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

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.