Exact Sciences Corporation (NASDAQ:EXAS) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Exact Sciences Corporation (NASDAQ:EXAS) have received a consensus rating of “Moderate Buy” from the twenty-three ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $68.90.

EXAS has been the subject of several analyst reports. Evercore ISI boosted their target price on Exact Sciences from $64.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 7th. Royal Bank Of Canada lowered their target price on Exact Sciences from $54.00 to $46.00 and set a “sector perform” rating for the company in a research note on Thursday, August 7th. Wells Fargo & Company set a $68.00 price target on Exact Sciences in a research note on Wednesday, October 1st. Wall Street Zen upgraded Exact Sciences from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, Cowen restated a “buy” rating on shares of Exact Sciences in a research note on Thursday, August 7th.

Exact Sciences Trading Up 3.5%

Shares of NASDAQ EXAS opened at $66.98 on Tuesday. Exact Sciences has a twelve month low of $38.81 and a twelve month high of $72.83. The company has a current ratio of 2.89, a quick ratio of 2.56 and a debt-to-equity ratio of 0.94. The stock has a fifty day simple moving average of $56.38 and a 200-day simple moving average of $52.83. The stock has a market capitalization of $12.68 billion, a PE ratio of -12.34, a PEG ratio of 5.56 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Monday, November 3rd. The medical research company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.14. The business had revenue of $850.74 million for the quarter, compared to analyst estimates of $810.42 million. Exact Sciences had a negative return on equity of 1.75% and a negative net margin of 34.19%.The company’s revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.21) earnings per share. Exact Sciences has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Exact Sciences will post -0.58 earnings per share for the current year.

Insiders Place Their Bets

In other Exact Sciences news, Director James Edward Doyle sold 2,000 shares of the firm’s stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $60.00, for a total value of $120,000.00. Following the sale, the director directly owned 57,962 shares in the company, valued at $3,477,720. This trade represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Exact Sciences

Several hedge funds have recently made changes to their positions in EXAS. Larson Financial Group LLC grew its holdings in shares of Exact Sciences by 2,804.8% during the first quarter. Larson Financial Group LLC now owns 610 shares of the medical research company’s stock worth $26,000 after purchasing an additional 589 shares during the last quarter. National Pension Service grew its holdings in shares of Exact Sciences by 75.1% during the first quarter. National Pension Service now owns 681 shares of the medical research company’s stock worth $29,000 after purchasing an additional 292 shares during the last quarter. SVB Wealth LLC purchased a new position in shares of Exact Sciences during the first quarter worth about $30,000. True Wealth Design LLC grew its holdings in shares of Exact Sciences by 951.8% during the second quarter. True Wealth Design LLC now owns 589 shares of the medical research company’s stock worth $31,000 after purchasing an additional 533 shares during the last quarter. Finally, Country Trust Bank purchased a new position in shares of Exact Sciences during the second quarter worth about $32,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

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.