Exact Sciences (NASDAQ:EXAS) Stock Price Expected to Rise, Sanford C. Bernstein Analyst Says

Exact Sciences (NASDAQ:EXAS) had its price objective boosted by Sanford C. Bernstein from $75.00 to $90.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an outperform rating on the medical research company’s stock.

Several other brokerages also recently weighed in on EXAS. Stifel Nicolaus lowered their price objective on Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. The Goldman Sachs Group lowered their price target on shares of Exact Sciences from $88.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Piper Sandler raised their price target on shares of Exact Sciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, September 12th. Benchmark lowered their price objective on shares of Exact Sciences from $91.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Finally, Wells Fargo & Company began coverage on Exact Sciences in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Exact Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $80.64.

Exact Sciences Trading Up 1.3 %

Shares of Exact Sciences stock opened at $69.80 on Wednesday. The company has a 50 day simple moving average of $66.81 and a two-hundred day simple moving average of $56.64. The firm has a market cap of $12.90 billion, a PE ratio of -72.71 and a beta of 1.27. 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 current ratio of 2.17 and a quick ratio of 1.98.

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

Insider Buying and Selling

In other news, EVP Brian Baranick sold 929 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the sale, the executive vice president now directly owns 12,758 shares in the company, valued at approximately $893,060. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.36% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Exact Sciences

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Exact Sciences by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 17,740,092 shares of the medical research company’s stock valued at $1,225,131,000 after acquiring an additional 180,341 shares during the period. Capital World Investors boosted its holdings in Exact Sciences by 74.4% in the first quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock valued at $899,528,000 after purchasing an additional 5,557,168 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in Exact Sciences during the 2nd quarter worth about $163,896,000. Champlain Investment Partners LLC raised its stake in shares of Exact Sciences by 175.3% during the 1st quarter. Champlain Investment Partners LLC now owns 2,258,235 shares of the medical research company’s stock valued at $155,954,000 after buying an additional 1,438,010 shares during the last quarter. Finally, Armistice Capital LLC lifted its holdings in shares of Exact Sciences by 91.6% in the 2nd quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock valued at $59,154,000 after buying an additional 669,438 shares during the period. 88.82% of the stock is owned by hedge funds and other institutional investors.

About Exact Sciences

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.