Proficio Capital Partners LLC acquired a new stake in Exact Sciences Co. (NASDAQ:EXAS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 28,545 shares of the medical research company's stock, valued at approximately $1,604,000.
A number of other hedge funds also recently made changes to their positions in the business. Huntington National Bank increased its stake in shares of Exact Sciences by 838.1% during the third quarter. Huntington National Bank now owns 394 shares of the medical research company's stock worth $27,000 after purchasing an additional 352 shares during the period. RPg Family Wealth Advisory LLC bought a new position in shares of Exact Sciences during the third quarter worth approximately $34,000. Asset Planning Inc bought a new position in shares of Exact Sciences during the fourth quarter worth approximately $40,000. Modus Advisors LLC bought a new position in shares of Exact Sciences during the fourth quarter worth approximately $43,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Exact Sciences during the fourth quarter worth approximately $66,000. 88.82% of the stock is owned by institutional investors and hedge funds.
Exact Sciences Price Performance
Shares of EXAS traded up $1.34 during midday trading on Friday, hitting $45.62. The company's stock had a trading volume of 3,145,252 shares, compared to its average volume of 2,619,965. Exact Sciences Co. has a one year low of $40.62 and a one year high of $79.62. The company's fifty day simple moving average is $50.55 and its two-hundred day simple moving average is $58.27. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $8.47 billion, a price-to-earnings ratio of -8.19 and a beta of 1.25.
Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.23. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. The company had revenue of $713.42 million for the quarter, compared to the consensus estimate of $701.45 million. As a group, equities analysts expect that Exact Sciences Co. will post -0.58 earnings per share for the current fiscal year.
Analyst Ratings Changes
EXAS has been the topic of a number of recent research reports. Barclays lowered their target price on Exact Sciences from $70.00 to $65.00 and set an "overweight" rating on the stock in a research note on Thursday, February 20th. Piper Sandler lowered their target price on Exact Sciences from $75.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Royal Bank of Canada initiated coverage on Exact Sciences in a research note on Thursday, March 13th. They set a "sector perform" rating and a $52.00 target price on the stock. William Blair restated an "outperform" rating on shares of Exact Sciences in a research note on Thursday, February 20th. Finally, TD Cowen raised their price objective on Exact Sciences from $82.00 to $86.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $70.83.
Check Out Our Latest Research Report on EXAS
Exact Sciences Profile
(
Free Report)
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.
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