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

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.

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

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.

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