Exact Sciences Co. (NASDAQ:EXAS) Given Consensus Rating of “Moderate Buy” by Analysts

Exact Sciences Co. (NASDAQ:EXAS) has been assigned a consensus rating of “Moderate Buy” from the twenty-two research firms that are presently covering the stock, MarketBeat reports. Two investment 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. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $69.25.

Several equities analysts have recently issued reports on the company. Barclays reduced their target price on Exact Sciences from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Bank of America decreased their target price on Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Benchmark restated a “buy” rating and set a $65.00 price target on shares of Exact Sciences in a research report on Monday, January 13th. Scotiabank lifted their price objective on shares of Exact Sciences from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 24th. Finally, Guggenheim reissued a “buy” rating and set a $60.00 target price on shares of Exact Sciences in a research report on Friday, April 11th.

Exact Sciences Trading Down 1.6 %

Shares of Exact Sciences stock opened at $41.58 on Friday. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. The stock has a fifty day simple moving average of $46.06 and a 200 day simple moving average of $55.21. Exact Sciences has a 12-month low of $39.97 and a 12-month high of $72.83. The company has a market capitalization of $7.72 billion, a P/E ratio of -7.46 and a beta of 1.14.

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

Institutional Investors Weigh In On Exact Sciences

Several hedge funds have recently added to or reduced their stakes in EXAS. Capital World Investors raised its holdings in shares of Exact Sciences by 10.7% during the 4th quarter. Capital World Investors now owns 17,537,617 shares of the medical research company’s stock valued at $985,439,000 after buying an additional 1,696,321 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Exact Sciences by 74.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,760,241 shares of the medical research company’s stock worth $323,669,000 after acquiring an additional 2,462,165 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Exact Sciences by 25.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,269,823 shares of the medical research company’s stock valued at $239,922,000 after purchasing an additional 876,985 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Exact Sciences by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 3,122,798 shares of the medical research company’s stock valued at $175,165,000 after purchasing an additional 16,828 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in Exact Sciences by 107.7% in the 4th quarter. Mackenzie Financial Corp now owns 2,919,325 shares of the medical research company’s stock worth $164,037,000 after purchasing an additional 1,513,873 shares during the period. 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.