Exact Sciences (NASDAQ:EXAS) Cut to Hold at Barclays

Barclays lowered shares of Exact Sciences (NASDAQ:EXAS) from a strong-buy rating to a hold rating in a research report released on Thursday,Zacks.com reports.

Several other brokerages have also recently commented on EXAS. UBS Group reduced their target price on Exact Sciences from $61.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. William Blair cut shares of Exact Sciences from an “outperform” rating to a “market perform” rating in a research note on Thursday. BTIG Research downgraded shares of Exact Sciences from a “buy” rating to a “neutral” rating in a report on Thursday. Stifel Nicolaus upped their target price on shares of Exact Sciences from $67.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Finally, Cowen reissued a “buy” rating on shares of Exact Sciences in a research report on Tuesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Exact Sciences has an average rating of “Moderate Buy” and an average target price of $79.38.

Exact Sciences Stock Up 0.2%

EXAS stock opened at $100.90 on Thursday. Exact Sciences has a twelve month low of $38.81 and a twelve month high of $101.87. The company has a quick ratio of 2.56, a current ratio of 2.89 and a debt-to-equity ratio of 0.94. The company has a market cap of $19.12 billion, a PE ratio of -18.58, a price-to-earnings-growth ratio of 5.56 and a beta of 1.34. The business’s 50-day simple moving average is $62.85 and its 200 day simple moving average is $55.45.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Monday, November 3rd. The medical research company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.13 by $0.11. Exact Sciences had a negative return on equity of 1.75% and a negative net margin of 34.19%.The firm had revenue of $850.74 million during the quarter, compared to analysts’ expectations of $810.42 million. During the same quarter in the prior year, the firm posted ($0.21) EPS. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. Exact Sciences has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Exact Sciences will post -0.58 earnings per share for the current year.

Insider Transactions at Exact Sciences

In other Exact Sciences news, EVP Jacob A. Orville sold 5,000 shares of Exact Sciences stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $75.00, for a total value of $375,000.00. Following the completion of the transaction, the executive vice president owned 23,237 shares in the company, valued at approximately $1,742,775. The trade was a 17.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Brian Baranick sold 2,858 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $70.08, for a total value of $200,288.64. Following the completion of the transaction, the executive vice president directly owned 22,368 shares in the company, valued at approximately $1,567,549.44. This represents a 11.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,858 shares of company stock valued at $695,289 in the last three months. 1.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. National Pension Service grew its holdings in Exact Sciences by 75.1% during the 1st quarter. National Pension Service now owns 681 shares of the medical research company’s stock worth $29,000 after acquiring an additional 292 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of Exact Sciences in the first quarter valued at approximately $30,000. True Wealth Design LLC boosted its holdings in Exact Sciences by 951.8% in the second quarter. True Wealth Design LLC now owns 589 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 533 shares during the last quarter. Westside Investment Management Inc. increased its stake in shares of Exact Sciences by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 542 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 271 shares during the last quarter. Finally, Country Trust Bank acquired a new stake in shares of Exact Sciences in the 2nd quarter valued at approximately $32,000. 88.82% of the stock is owned by institutional investors.

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.