Exact Sciences (NASDAQ:EXAS) Given “Market Perform” Rating at Raymond James

Raymond James restated their market perform rating on shares of Exact Sciences (NASDAQ:EXAS) in a research note released on Thursday, Benzinga reports.

A number of other brokerages have also recently issued reports on EXAS. Scotiabank initiated coverage on shares of Exact Sciences in a report on Thursday, June 27th. They issued a sector outperform rating and a $70.00 target price on the stock. Canaccord Genuity Group reissued a buy rating and set a $75.00 target price on shares of Exact Sciences in a report on Friday, September 13th. Stifel Nicolaus reduced their price objective on shares of Exact Sciences from $100.00 to $82.00 and set a buy rating for the company in a research report on Thursday, August 1st. Piper Sandler raised their price objective on Exact Sciences from $75.00 to $85.00 and gave the stock an overweight rating in a research note on Thursday, September 12th. Finally, Wells Fargo & Company started coverage on shares of Exact Sciences in a report on Tuesday, August 27th. They issued an overweight rating and a $75.00 target price for the company. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $77.77.

Exact Sciences Price Performance

EXAS stock opened at $65.96 on Thursday. The stock has a 50-day simple moving average of $59.32 and a 200-day simple moving average of $56.09. Exact Sciences has a 1 year low of $40.62 and a 1 year high of $79.62. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.98 and a current ratio of 2.17. The firm has a market cap of $12.17 billion, a P/E ratio of -49.97 and a beta of 1.26.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.28. The company had revenue of $699.26 million for the quarter, compared to analyst estimates of $690.02 million. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. Exact Sciences’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.45) EPS. On average, equities analysts predict that Exact Sciences will post -0.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Exact Sciences

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the transaction, the executive vice president now directly owns 13,687 shares of the company’s stock, valued at $958,090. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.36% of the company’s stock.

Institutional Trading of Exact Sciences

Institutional investors and hedge funds have recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Exact Sciences by 16.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,196 shares of the medical research company’s stock valued at $6,160,000 after acquiring an additional 12,349 shares during the period. Thompson Investment Management Inc. raised its holdings in shares of Exact Sciences by 13.1% in the first quarter. Thompson Investment Management Inc. now owns 160,584 shares of the medical research company’s stock valued at $11,090,000 after buying an additional 18,595 shares during the last quarter. Vanguard Group Inc. increased its position in Exact Sciences by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 17,559,751 shares of the medical research company’s stock valued at $1,299,070,000 after acquiring an additional 115,058 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Exact Sciences by 4.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 22,687 shares of the medical research company’s stock valued at $1,678,000 after purchasing an additional 1,020 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its stake in shares of Exact Sciences by 5.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 207,364 shares of the medical research company’s stock valued at $14,361,000 after acquiring an additional 10,356 shares during the period. 88.82% of the stock is currently owned by institutional investors and hedge funds.

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.