Exact Sciences Corporation (NASDAQ:EXAS) Receives Average Recommendation of “Reduce” from Brokerages

Exact Sciences Corporation (NASDAQ:EXAS) has been given an average recommendation of “Reduce” by the twenty-two ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and twenty-one have issued a hold recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $92.1250.

EXAS has been the subject of a number of analyst reports. Guggenheim downgraded Exact Sciences from a “buy” rating to a “neutral” rating in a research report on Thursday, November 20th. Benchmark downgraded shares of Exact Sciences from a “buy” rating to a “hold” rating in a research note on Monday, November 24th. Craig Hallum lowered shares of Exact Sciences from a “buy” rating to a “hold” rating and set a $105.00 target price for the company. in a report on Friday, November 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Exact Sciences in a research note on Thursday, January 22nd. Finally, Zacks Research downgraded shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th.

Exact Sciences Trading Up 0.2%

Shares of NASDAQ EXAS opened at $103.50 on Monday. The business’s 50 day moving average is $102.65 and its two-hundred day moving average is $82.12. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.43 and a quick ratio of 2.17. Exact Sciences has a 1-year low of $38.81 and a 1-year high of $103.67. The stock has a market capitalization of $19.76 billion, a P/E ratio of -94.09, a PEG ratio of 2.36 and a beta of 1.41.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Friday, February 13th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.29). Exact Sciences had a negative net margin of 6.40% and a positive return on equity of 0.53%. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.06) earnings per share. As a group, research analysts expect that Exact Sciences will post -0.58 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC bought a new stake in shares of Exact Sciences during the 4th quarter worth approximately $26,000. Torren Management LLC bought a new position in Exact Sciences in the 4th quarter valued at $27,000. True Wealth Design LLC increased its stake 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 worth $31,000 after purchasing an additional 533 shares during the period. Westside Investment Management Inc. lifted its position in shares of Exact Sciences by 100.0% during the third quarter. Westside Investment Management Inc. now owns 542 shares of the medical research company’s stock worth $31,000 after purchasing an additional 271 shares during the last quarter. Finally, Country Trust Bank bought a new stake in shares of Exact Sciences during the second quarter worth $32,000. Institutional investors own 88.82% of the company’s stock.

About Exact Sciences

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.