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Evercore ISI Forecasts Strong Price Appreciation for Exact Sciences (NASDAQ:EXAS) Stock

Exact Sciences logo with Medical background

Exact Sciences (NASDAQ:EXAS - Get Free Report) had its price target increased by analysts at Evercore ISI from $66.00 to $68.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the medical research company's stock. Evercore ISI's price objective would indicate a potential upside of 29.57% from the company's previous close.

Several other brokerages have also recently issued reports on EXAS. Robert W. Baird upped their target price on Exact Sciences from $69.00 to $72.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Royal Bank Of Canada upped their target price on Exact Sciences from $52.00 to $54.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd. Mizuho assumed coverage on Exact Sciences in a report on Thursday, April 10th. They issued an "outperform" rating and a $60.00 target price for the company. Barclays dropped their target price on Exact Sciences from $75.00 to $65.00 and set an "overweight" rating for the company in a report on Tuesday, June 24th. Finally, Guggenheim restated a "buy" rating and issued a $60.00 target price on shares of Exact Sciences in a report on Friday, April 11th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Exact Sciences presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.50.

View Our Latest Stock Analysis on Exact Sciences

Exact Sciences Stock Down 1.6%

Shares of EXAS opened at $52.48 on Tuesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.38 and a current ratio of 2.73. Exact Sciences has a one year low of $39.97 and a one year high of $72.83. The stock has a market capitalization of $9.90 billion, a price-to-earnings ratio of -9.52, a PEG ratio of 11.39 and a beta of 0.95. The stock has a 50 day moving average price of $53.86 and a 200 day moving average price of $51.10.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.16. Exact Sciences had a negative return on equity of 3.75% and a negative net margin of 36.06%. The firm had revenue of $706.79 million during the quarter, compared to analysts' expectations of $688.58 million. During the same period in the previous year, the business earned ($0.60) earnings per share. The firm's revenue for the quarter was up 10.9% on a year-over-year basis. Equities research analysts forecast that Exact Sciences will post -0.58 earnings per share for the current fiscal year.

Insider Transactions at Exact Sciences

In other Exact Sciences news, Director Katherine S. Zanotti sold 3,207 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $53.20, for a total value of $170,612.40. Following the sale, the director owned 72,759 shares of the company's stock, valued at $3,870,778.80. This trade represents a 4.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EXAS. Larson Financial Group LLC increased its holdings in shares of Exact Sciences by 2,804.8% in the 1st quarter. Larson Financial Group LLC now owns 610 shares of the medical research company's stock valued at $26,000 after acquiring an additional 589 shares during the last quarter. National Pension Service increased its holdings in shares of Exact Sciences by 75.1% in the 1st quarter. National Pension Service now owns 681 shares of the medical research company's stock valued at $29,000 after acquiring an additional 292 shares during the last quarter. SVB Wealth LLC purchased a new position in shares of Exact Sciences in the 1st quarter valued at about $30,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Exact Sciences in the 1st quarter valued at about $34,000. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Exact Sciences in the 1st quarter valued at about $34,000. Hedge funds and other institutional investors own 88.82% of the company's stock.

Exact Sciences Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Exact Sciences (NASDAQ:EXAS)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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