Brokerages Set Exact Sciences Corporation (NASDAQ:EXAS) Price Target at $89.56

Exact Sciences Corporation (NASDAQ:EXAS) has received an average rating of “Hold” from the twenty-four research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, twenty-one have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $89.5556.

EXAS has been the subject of several recent research reports. Mizuho reaffirmed a “neutral” rating and set a $105.00 target price (up from $85.00) on shares of Exact Sciences in a report on Tuesday, January 20th. Guggenheim cut Exact Sciences from a “buy” rating to a “neutral” rating in a research note on Thursday, November 20th. Piper Sandler cut shares of Exact Sciences from an “overweight” rating to a “hold” rating and set a $105.00 price objective on the stock. in a report on Monday, November 24th. Leerink Partners lowered shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Exact Sciences in a research note on Thursday, January 22nd.

Exact Sciences Stock Performance

Exact Sciences stock opened at $103.24 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.72 and a quick ratio of 2.44. Exact Sciences has a 12 month low of $38.81 and a 12 month high of $103.54. The company has a fifty day moving average price of $102.10 and a two-hundred day moving average price of $75.76. The company has a market cap of $19.70 billion, a PE ratio of -93.85, a P/E/G ratio of 2.44 and a beta of 1.42.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly 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 positive return on equity of 1.67% and a negative net margin of 32.01%.The business had revenue of $878.38 million during the quarter, compared to the consensus estimate of $860.59 million. During the same quarter in the previous year, the business posted ($0.06) earnings per share. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. Research analysts expect that Exact Sciences will post -0.58 earnings per share for the current year.

Insider Buying and Selling

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 transaction of $375,000.00. Following the sale, the executive vice president owned 23,237 shares of the company’s stock, valued at $1,742,775. The trade was a 17.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Ameriprise Financial Inc. grew its stake in shares of 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 during the last quarter. Massachusetts Financial Services Co. MA grew its position in Exact Sciences by 31.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,909,501 shares of the medical research company’s stock worth $213,889,000 after buying an additional 939,888 shares during the last quarter. Norges Bank bought a new position in shares of Exact Sciences in the fourth quarter valued at $348,425,000. Geode Capital Management LLC increased its holdings in shares of Exact Sciences by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 3,331,580 shares of the medical research company’s stock valued at $338,432,000 after buying an additional 19,753 shares in the last quarter. Finally, Holocene Advisors LP lifted its position in shares of Exact Sciences by 27.0% during the 3rd quarter. Holocene Advisors LP now owns 2,725,390 shares of the medical research company’s stock valued at $149,106,000 after acquiring an additional 580,209 shares during the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.

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.