Exact Sciences (NASDAQ:EXAS) Sees Unusually-High Trading Volume – Should You Buy?

Exact Sciences Corporation (NASDAQ:EXAS) saw strong trading volume on Friday . 5,342,348 shares changed hands during mid-day trading, an increase of 128% from the previous session’s volume of 2,344,816 shares.The stock last traded at $104.9650 and had previously closed at $103.92.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on EXAS shares. Benchmark cut shares of Exact Sciences from a “buy” rating to a “hold” rating in a report on Monday, November 24th. TD Cowen lowered Exact Sciences from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Piper Sandler cut Exact Sciences from an “overweight” rating to a “hold” rating and set a $105.00 target price on the stock. in a research report on Monday, November 24th. Zacks Research downgraded Exact Sciences from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $105.00 price target (up from $80.00) on shares of Exact Sciences in a report on Friday, November 28th. Twenty-one equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $92.13.

Exact Sciences Stock Performance

The stock’s 50-day moving average price is $103.06 and its 200-day moving average price is $85.85. The company has a market capitalization of $20.03 billion, a price-to-earnings ratio of -95.37, a P/E/G ratio of 2.39 and a beta of 1.41. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.17 and a current ratio of 2.43.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings results on Friday, February 13th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.29). Exact Sciences had a positive return on equity of 0.53% and a negative net margin of 6.40%.The firm had revenue of $878.38 million during the quarter, compared to analyst estimates of $860.59 million. During the same quarter in the prior year, the company earned ($0.06) EPS. The business’s revenue was up 23.1% on a year-over-year basis. As a group, equities research analysts expect that Exact Sciences Corporation will post -0.58 earnings per share for the current year.

Institutional Trading of Exact Sciences

Several institutional investors and hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC purchased a new position in shares of Exact Sciences during the 4th quarter worth approximately $26,000. Torren Management LLC purchased a new stake in Exact Sciences in the 4th quarter valued at approximately $27,000. Hantz Financial Services Inc. grew its holdings in Exact Sciences by 100.5% during the 4th quarter. Hantz Financial Services Inc. now owns 421 shares of the medical research company’s stock valued at $43,000 after buying an additional 211 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Exact Sciences during the 4th quarter valued at $44,000. Finally, Westside Investment Management Inc. increased its position in 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 buying an additional 271 shares in the last quarter. Hedge funds and other 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.