Exact Sciences (NASDAQ:EXAS) Stock Rating Lowered by Mizuho

Exact Sciences (NASDAQ:EXAS) was downgraded by Mizuho from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports. They presently have a $105.00 price objective on the medical research company’s stock, up from their previous price objective of $85.00. Mizuho’s price objective would indicate a potential upside of 2.46% from the company’s current price.

EXAS has been the subject of a number of other research reports. Evercore ISI set a $105.00 price objective on shares of Exact Sciences and gave the company an “in-line” rating in a report on Monday, January 5th. Canaccord Genuity Group lowered Exact Sciences from a “buy” rating to a “hold” rating and lifted their price target for the company from $85.00 to $105.00 in a research note on Tuesday, November 25th. TD Cowen cut Exact Sciences from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. BTIG Research lowered Exact Sciences from a “buy” rating to a “neutral” rating in a report on Thursday, November 20th. Finally, William Blair downgraded Exact Sciences from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, twenty have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $89.56.

Exact Sciences Trading Up 0.1%

Shares of NASDAQ:EXAS opened at $102.48 on Tuesday. The company has a current ratio of 2.72, a quick ratio of 2.44 and a debt-to-equity ratio of 0.93. Exact Sciences has a 12-month low of $38.81 and a 12-month high of $102.66. The business has a 50 day moving average of $98.61 and a two-hundred day moving average of $69.63. The company has a market capitalization of $19.55 billion, a PE ratio of -19.26, a PEG ratio of 2.42 and a beta of 1.40.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Monday, November 3rd. The medical research company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.11. Exact Sciences had a negative net margin of 32.01% and a positive return on equity of 1.67%. The business had revenue of $850.74 million for the quarter, compared to analysts’ expectations of $810.42 million. During the same quarter last year, the company earned ($0.21) EPS. The business’s revenue was up 20.0% on a year-over-year basis. As a group, analysts forecast that Exact Sciences will post -0.58 EPS for the current year.

Insider Activity at Exact Sciences

In other news, EVP Jacob A. Orville sold 5,000 shares of Exact Sciences stock in a transaction that occurred 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 sale, the executive vice president directly owned 23,237 shares of the company’s stock, valued at $1,742,775. The trade was a 17.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Brian Baranick sold 2,858 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president owned 22,368 shares of the company’s stock, valued at $1,567,549.44. The trade was a 11.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Exact Sciences

A number of hedge funds have recently modified their holdings of EXAS. Massachusetts Financial Services Co. MA acquired a new position in Exact Sciences during the second quarter worth about $157,805,000. Ameriprise Financial Inc. lifted its stake in Exact Sciences by 105.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,493,085 shares of the medical research company’s stock worth $245,802,000 after purchasing an additional 2,310,139 shares in the last quarter. ARK Investment Management LLC lifted its stake in Exact Sciences by 6,072,588.9% in the 3rd quarter. ARK Investment Management LLC now owns 2,186,168 shares of the medical research company’s stock worth $119,605,000 after purchasing an additional 2,186,132 shares in the last quarter. Holocene Advisors LP boosted its holdings in shares of Exact Sciences by 189.5% during the 2nd quarter. Holocene Advisors LP now owns 2,145,181 shares of the medical research company’s stock worth $113,995,000 after purchasing an additional 1,404,086 shares during the last quarter. Finally, Amova Asset Management Americas Inc. grew its position in shares of Exact Sciences by 671.5% in the third quarter. Amova Asset Management Americas Inc. now owns 1,286,595 shares of the medical research company’s stock valued at $70,390,000 after purchasing an additional 1,119,830 shares in the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Exact Sciences Company Profile

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.