Exact Sciences Corporation (NASDAQ:EXAS) Given Average Recommendation of “Reduce” by Brokerages

Shares of Exact Sciences Corporation (NASDAQ:EXAS) have earned a consensus rating of “Reduce” from the twenty-two ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and twenty-one have issued a hold recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $92.1250.

EXAS has been the topic of a number of recent analyst reports. BTIG Research reiterated a “neutral” rating on shares of Exact Sciences in a research report on Tuesday, March 24th. Mizuho restated a “neutral” rating and issued a $105.00 price target (up from $85.00) on shares of Exact Sciences in a research note on Tuesday, January 20th. Zacks Research lowered shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Exact Sciences in a research report on Thursday, January 22nd. Finally, Evercore set a $105.00 price objective on shares of Exact Sciences and gave the company an “in-line” rating in a research note on Monday, January 5th.

Exact Sciences Stock Performance

Shares of EXAS stock opened at $104.91 on Friday. Exact Sciences has a fifty-two week low of $38.81 and a fifty-two week high of $104.98. The stock’s fifty day moving average price is $103.52 and its two-hundred day moving average price is $88.83. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.17 and a current ratio of 2.43. The company has a market cap of $20.03 billion, a PE ratio of -95.37, a P/E/G ratio of 2.02 and a beta of 1.41.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Friday, February 13th. The medical research company reported ($0.21) EPS 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 business had revenue of $878.38 million for the quarter, compared to analyst estimates of $860.59 million. During the same period last year, the firm posted ($0.06) EPS. Exact Sciences’s quarterly revenue was up 23.1% on a year-over-year basis. Equities analysts predict that Exact Sciences will post -0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. HBK Investments L P acquired a new stake in shares of Exact Sciences during the 4th quarter valued at $776,592,000. Pentwater Capital Management LP acquired a new position in Exact Sciences in the 4th quarter worth about $736,310,000. Ameriprise Financial Inc. increased its holdings 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. Massachusetts Financial Services Co. MA raised 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 valued at $213,889,000 after purchasing an additional 939,888 shares during the last quarter. Finally, Norges Bank bought a new position in Exact Sciences in the fourth quarter valued at about $348,425,000. 88.82% of the stock is currently 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.