Analysts Set Exact Sciences Co. (NASDAQ:EXAS) Price Target at $78.50

Exact Sciences Co. (NASDAQ:EXAS) has been given an average recommendation of “Buy” by the fifteen brokerages that are covering the stock, MarketBeat reports. Fifteen investment analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $78.50.

EXAS has been the topic of a number of research analyst reports. Jefferies Financial Group assumed coverage on shares of Exact Sciences in a research note on Monday, June 3rd. They set a “buy” rating and a $75.00 price objective on the stock. Benchmark lowered their price target on Exact Sciences from $91.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Stifel Nicolaus cut their price objective on Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Scotiabank assumed coverage on Exact Sciences in a report on Thursday, June 27th. They set a “sector outperform” rating and a $70.00 target price on the stock. Finally, Evercore ISI dropped their price target on shares of Exact Sciences from $80.00 to $72.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd.

Exact Sciences Trading Down 0.5 %

Shares of EXAS stock opened at $58.79 on Thursday. Exact Sciences has a 1 year low of $40.62 and a 1 year high of $80.56. The firm has a market capitalization of $10.86 billion, a PE ratio of -44.54 and a beta of 1.25. The stock has a fifty day moving average of $53.26 and a two-hundred day moving average of $55.24. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.98 and a current ratio of 2.17.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.28. The business had revenue of $699.26 million during the quarter, compared to the consensus estimate of $690.02 million. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. During the same quarter in the prior year, the company posted ($0.45) earnings per share. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, research analysts expect that Exact Sciences will post -0.87 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EXAS. Itau Unibanco Holding S.A. acquired a new stake in shares of Exact Sciences during the 2nd quarter valued at about $29,000. Benjamin F. Edwards & Company Inc. grew its position in Exact Sciences by 65.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock worth $31,000 after acquiring an additional 179 shares in the last quarter. Able Wealth Management LLC acquired a new position in shares of Exact Sciences during the 4th quarter worth $45,000. EverSource Wealth Advisors LLC raised its holdings in shares of Exact Sciences by 92.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock valued at $49,000 after purchasing an additional 340 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in shares of Exact Sciences in the 1st quarter valued at $55,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Company Profile

Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX Breast Recurrence Score Test; Oncotype DX Breast DCIS Score Test; Oncotype DX Colon Recurrence Score Test; OncoExTra Test for tumor profiling for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer; and Covid-19 testing services.