Evercore ISI Boosts Exact Sciences (NASDAQ:EXAS) Price Target to $80.00

Exact Sciences (NASDAQ:EXAS) had its price target upped by Evercore ISI from $72.00 to $80.00 in a research report released on Tuesday, Benzinga reports. Evercore ISI currently has an outperform rating on the medical research company’s stock.

A number of other brokerages have also recently weighed in on EXAS. Stifel Nicolaus decreased their price objective on Exact Sciences from $100.00 to $82.00 and set a buy rating on the stock in a report on Thursday, August 1st. Benchmark reduced their price target on shares of Exact Sciences from $91.00 to $67.00 and set a buy rating on the stock in a research report on Thursday, August 1st. Raymond James restated a market perform rating on shares of Exact Sciences in a report on Thursday, September 26th. Piper Sandler increased their target price on shares of Exact Sciences from $75.00 to $85.00 and gave the company an overweight rating in a report on Thursday, September 12th. Finally, BTIG Research decreased their target price on shares of Exact Sciences from $80.00 to $70.00 and set a buy rating on the stock in a research report on Wednesday, June 26th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $78.38.

Exact Sciences Stock Performance

NASDAQ:EXAS opened at $66.41 on Tuesday. The stock has a market cap of $12.25 billion, a P/E ratio of -50.31 and a beta of 1.26. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73. The business’s 50-day moving average price is $60.47 and its two-hundred day moving average price is $56.30. Exact Sciences has a twelve month low of $40.62 and a twelve month high of $79.62.

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, topping the consensus estimate of ($0.37) by $0.28. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The company had revenue of $699.26 million during the quarter, compared to analyst estimates of $690.02 million. During the same period in the previous year, the business earned ($0.45) earnings per share. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, equities analysts predict that Exact Sciences will post -0.87 EPS for the current fiscal year.

Insider Transactions at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction dated 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 owns 13,687 shares in the company, valued at $958,090. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.36% of the company’s stock.

Institutional Investors Weigh In On Exact Sciences

Hedge funds have recently made changes to their positions in the company. AMF Tjanstepension AB purchased a new position in Exact Sciences during the third quarter valued at $724,000. Sanctuary Advisors LLC bought a new position in shares of Exact Sciences in the 2nd quarter worth about $906,000. Cetera Investment Advisers lifted its position in Exact Sciences by 52.2% during the 2nd quarter. Cetera Investment Advisers now owns 163,841 shares of the medical research company’s stock valued at $6,922,000 after acquiring an additional 56,174 shares during the period. Kimelman & Baird LLC purchased a new position in Exact Sciences during the 2nd quarter valued at about $84,000. Finally, Creative Planning boosted its stake in Exact Sciences by 17.6% during the second quarter. Creative Planning now owns 33,154 shares of the medical research company’s stock worth $1,401,000 after acquiring an additional 4,954 shares in the last quarter. 88.82% of the stock is currently owned by institutional investors.

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.