Park Avenue Securities LLC Boosts Stake in Exact Sciences Co. (NASDAQ:EXAS)

Park Avenue Securities LLC grew its position in shares of Exact Sciences Co. (NASDAQ:EXAS) by 6.1% during the first quarter, Holdings Channel reports. The fund owned 25,335 shares of the medical research company’s stock after purchasing an additional 1,449 shares during the period. Park Avenue Securities LLC’s holdings in Exact Sciences were worth $1,097,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Asset Planning Inc purchased a new position in shares of Exact Sciences during the 4th quarter worth approximately $40,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Exact Sciences during the 4th quarter worth approximately $45,000. AlphaQuest LLC grew its holdings in shares of Exact Sciences by 22,825.0% during the 4th quarter. AlphaQuest LLC now owns 917 shares of the medical research company’s stock worth $52,000 after acquiring an additional 913 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Exact Sciences during the 4th quarter worth approximately $66,000. Finally, Ostrum Asset Management boosted its position in shares of Exact Sciences by 28.4% in the 4th quarter. Ostrum Asset Management now owns 2,382 shares of the medical research company’s stock worth $134,000 after purchasing an additional 527 shares in the last quarter. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on EXAS shares. Guggenheim reissued a “buy” rating and issued a $60.00 price target on shares of Exact Sciences in a research report on Friday, April 11th. Evercore ISI boosted their price target on Exact Sciences from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Scotiabank boosted their price target on Exact Sciences from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 24th. Robert W. Baird boosted their price target on Exact Sciences from $69.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Finally, Mizuho started coverage on Exact Sciences in a research report on Thursday, April 10th. They issued an “outperform” rating and a $60.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $70.90.

Exact Sciences Stock Performance

Shares of EXAS opened at $54.01 on Friday. The business’s fifty day simple moving average is $50.73 and its two-hundred day simple moving average is $52.22. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. Exact Sciences Co. has a 12 month low of $39.97 and a 12 month high of $72.83. The company has a market cap of $10.19 billion, a price-to-earnings ratio of -9.70 and a beta of 0.98.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Thursday, May 1st. The medical research company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.16. The business had revenue of $706.79 million for the quarter, compared to the consensus estimate of $688.58 million. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. The company’s revenue was up 10.9% compared to the same quarter last year. During the same period last year, the business posted ($0.60) EPS. Research analysts anticipate that Exact Sciences Co. will post -0.58 earnings per share for the current fiscal year.

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.