Guggenheim Reiterates “Buy” Rating for Exact Sciences (NASDAQ:EXAS)

Exact Sciences (NASDAQ:EXAS)‘s stock had its “buy” rating reiterated by research analysts at Guggenheim in a note issued to investors on Friday,Benzinga reports. They presently have a $60.00 target price on the medical research company’s stock. Guggenheim’s target price would suggest a potential upside of 34.98% from the stock’s current price.

EXAS has been the topic of several other reports. Bank of America cut their target price on shares of Exact Sciences from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Mizuho assumed coverage on Exact Sciences in a research note on Thursday. They set an “outperform” rating and a $60.00 price objective on the stock. William Blair reiterated an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 20th. Barclays lowered their price target on Exact Sciences from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Scotiabank lifted their price objective on Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a report on Monday, February 24th. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $69.25.

Exact Sciences Stock Up 1.6 %

Shares of Exact Sciences stock opened at $44.45 on Friday. The business has a fifty day simple moving average of $46.95 and a 200 day simple moving average of $55.80. The stock has a market cap of $8.26 billion, a PE ratio of -7.98 and a beta of 1.14. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97. Exact Sciences has a 12 month low of $39.97 and a 12 month high of $73.10.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.23. The company had revenue of $713.42 million during the quarter, compared to analyst estimates of $701.45 million. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. Research analysts predict that Exact Sciences will post -0.58 EPS for the current year.

Institutional Trading of Exact Sciences

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Merit Financial Group LLC increased its position in shares of Exact Sciences by 110.0% during the 1st quarter. Merit Financial Group LLC now owns 8,799 shares of the medical research company’s stock worth $381,000 after purchasing an additional 4,609 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Exact Sciences by 1.8% in the first quarter. Rhumbline Advisers now owns 221,301 shares of the medical research company’s stock valued at $9,580,000 after buying an additional 3,873 shares in the last quarter. GAMMA Investing LLC increased its holdings in Exact Sciences by 4,899.4% during the first quarter. GAMMA Investing LLC now owns 183,679 shares of the medical research company’s stock worth $7,951,000 after buying an additional 180,005 shares during the last quarter. AdvisorNet Financial Inc raised its position in Exact Sciences by 9.6% during the first quarter. AdvisorNet Financial Inc now owns 12,031 shares of the medical research company’s stock worth $521,000 after acquiring an additional 1,052 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Exact Sciences by 9.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 39,135 shares of the medical research company’s stock valued at $2,199,000 after acquiring an additional 3,434 shares during the last quarter. Institutional investors 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.