Exact Sciences Co. (NASDAQ:EXAS) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Exact Sciences Co. (NASDAQ:EXAS) have been given an average rating of “Moderate Buy” by the fourteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $97.44.

Several equities analysts recently commented on the stock. Citigroup reaffirmed a “buy” rating and set a $100.00 price objective on shares of Exact Sciences in a research note on Wednesday, April 3rd. Wolfe Research assumed coverage on shares of Exact Sciences in a research note on Wednesday, December 13th. They set an “outperform” rating and a $95.00 price objective for the company. Canaccord Genuity Group reduced their price objective on shares of Exact Sciences from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Benchmark raised shares of Exact Sciences from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research note on Tuesday, January 2nd. Finally, William Blair reissued an “outperform” rating on shares of Exact Sciences in a research note on Thursday, February 22nd.

Insider Activity

In related news, General Counsel James Herriott sold 415 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $61.50, for a total transaction of $25,522.50. Following the completion of the sale, the general counsel now directly owns 6,943 shares in the company, valued at approximately $426,994.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, General Counsel James Herriott sold 415 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $61.50, for a total transaction of $25,522.50. Following the completion of the sale, the general counsel now directly owns 6,943 shares in the company, valued at approximately $426,994.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Sarah Condella sold 965 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total transaction of $59,279.95. Following the sale, the executive vice president now owns 70,489 shares of the company’s stock, valued at $4,330,139.27. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,113 shares of company stock valued at $4,165,273. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EXAS. True Wealth Design LLC bought a new position in Exact Sciences in the 4th quarter worth $30,000. Wolff Wiese Magana LLC raised its holdings in Exact Sciences by 459.5% in the 4th quarter. Wolff Wiese Magana LLC now owns 414 shares of the medical research company’s stock worth $31,000 after purchasing an additional 340 shares in the last quarter. KB Financial Partners LLC bought a new position in Exact Sciences in the 2nd quarter worth $32,000. BluePath Capital Management LLC bought a new position in Exact Sciences in the 3rd quarter worth $33,000. Finally, Newbridge Financial Services Group Inc. bought a new position in Exact Sciences in the 3rd quarter worth $34,000. 88.82% of the stock is currently owned by institutional investors.

Exact Sciences Stock Performance

NASDAQ EXAS opened at $70.23 on Monday. The company’s 50 day moving average is $62.52 and its 200-day moving average is $64.99. Exact Sciences has a 12-month low of $56.05 and a 12-month high of $100.77. The company has a quick ratio of 2.07, a current ratio of 2.32 and a debt-to-equity ratio of 0.74. The firm has a market cap of $12.75 billion, a P/E ratio of -61.61 and a beta of 1.25.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Wednesday, February 21st. The medical research company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.26. Exact Sciences had a negative net margin of 8.17% and a negative return on equity of 6.60%. The company had revenue of $646.89 million for the quarter, compared to analyst estimates of $638.83 million. During the same quarter in the previous year, the firm posted ($0.72) earnings per share. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. Sell-side analysts predict that Exact Sciences will post -0.86 earnings per share for the current year.

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.