Ameriprise Financial Inc. Boosts Holdings in Exact Sciences Corporation $EXAS

Ameriprise Financial Inc. raised its position in Exact Sciences Corporation (NASDAQ:EXAS) by 105.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,493,085 shares of the medical research company’s stock after buying an additional 2,310,139 shares during the quarter. Ameriprise Financial Inc. owned about 2.37% of Exact Sciences worth $245,802,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Westside Investment Management Inc. increased its stake 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 acquiring an additional 271 shares during the period. Country Trust Bank purchased a new position in Exact Sciences during the second quarter worth about $32,000. Quent Capital LLC acquired a new stake in Exact Sciences in the third quarter valued at about $48,000. OFI Invest Asset Management boosted its holdings in Exact Sciences by 241.2% in the 3rd quarter. OFI Invest Asset Management now owns 1,085 shares of the medical research company’s stock valued at $59,000 after purchasing an additional 767 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in Exact Sciences by 47.6% in the 3rd quarter. Parallel Advisors LLC now owns 1,179 shares of the medical research company’s stock valued at $65,000 after purchasing an additional 380 shares in the last quarter. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Analysts Set New Price Targets

EXAS has been the subject of a number of recent analyst reports. Leerink Partners downgraded Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. Benchmark cut shares of Exact Sciences from a “buy” rating to a “hold” rating in a research note on Monday, November 24th. TD Cowen downgraded shares of Exact Sciences from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Guggenheim cut shares of Exact Sciences from a “buy” rating to a “neutral” rating in a research note on Thursday, November 20th. Finally, Evercore set a $105.00 price objective on shares of Exact Sciences and gave the stock an “in-line” rating in a report on Monday, January 5th. Twenty-one analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Exact Sciences presently has an average rating of “Reduce” and an average target price of $92.13.

Exact Sciences Stock Performance

NASDAQ:EXAS opened at $103.85 on Tuesday. The company has a current ratio of 2.43, a quick ratio of 2.17 and a debt-to-equity ratio of 0.97. The firm has a 50-day moving average price of $102.87 and a two-hundred day moving average price of $84.53. Exact Sciences Corporation has a twelve month low of $38.81 and a twelve month high of $103.92. The company has a market capitalization of $19.82 billion, a P/E ratio of -94.41, a price-to-earnings-growth ratio of 2.36 and a beta of 1.41.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Friday, February 13th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. During the same period in the previous year, the business posted ($0.06) earnings per share. The company’s quarterly revenue was up 23.1% on a year-over-year basis. As a group, research analysts expect that Exact Sciences Corporation will post -0.58 earnings per share for the current fiscal year.

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.