Pier Capital LLC Takes Position in Exact Sciences Co. (NASDAQ:EXAS)

Pier Capital LLC purchased a new stake in Exact Sciences Co. (NASDAQ:EXAS - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 81,036 shares of the medical research company's stock, valued at approximately $5,520,000.

A number of other large investors have also added to or reduced their stakes in the stock. Huntington National Bank lifted its position 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 acquiring an additional 352 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of Exact Sciences during the 2nd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Exact Sciences during the 3rd quarter worth approximately $34,000. Capital Performance Advisors LLP acquired a new stake in shares of Exact Sciences during the 3rd quarter worth approximately $35,000. Finally, Vestor Capital LLC bought a new position in Exact Sciences in the third quarter valued at approximately $46,000. Institutional investors and hedge funds own 88.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on EXAS shares. Benchmark reduced their target price on Exact Sciences from $67.00 to $65.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. Citigroup reduced their price objective on Exact Sciences from $80.00 to $75.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Sanford C. Bernstein boosted their target price on Exact Sciences from $75.00 to $90.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. BTIG Research raised their price target on shares of Exact Sciences from $65.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Finally, Craig Hallum decreased their price target on shares of Exact Sciences from $82.00 to $65.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $75.29.

Insider Activity

In related news, CEO Kevin T. Conroy purchased 19,500 shares of Exact Sciences stock in a transaction on Wednesday, November 13th. The stock was acquired at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the acquisition, the chief executive officer now owns 1,074,191 shares of the company's stock, valued at $55,159,707.85. This trade represents a 1.85 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Brian Baranick sold 929 shares of the company's stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the transaction, the executive vice president now owns 12,758 shares in the company, valued at $893,060. This represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is owned by company insiders.

Exact Sciences Trading Down 0.2 %

Exact Sciences stock traded down $0.15 during mid-day trading on Friday, hitting $62.46. 2,263,340 shares of the stock were exchanged, compared to its average volume of 3,085,294. The firm's fifty day simple moving average is $63.28 and its two-hundred day simple moving average is $56.41. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72. Exact Sciences Co. has a 12 month low of $40.62 and a 12 month high of $79.62. The stock has a market capitalization of $11.56 billion, a price-to-earnings ratio of -53.38 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last announced its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The firm had revenue of $708.66 million for the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences's revenue was up 12.8% compared to the same quarter last year. Analysts forecast that Exact Sciences Co. will post -1.13 EPS 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.