Exact Sciences (NASDAQ:EXAS) Price Target Raised to $68.00

Exact Sciences (NASDAQ:EXAS - Get Free Report) had its price objective hoisted by analysts at Evercore ISI from $66.00 to $68.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the medical research company's stock. Evercore ISI's price objective indicates a potential upside of 31.00% from the stock's current price.

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

Exact Sciences Price Performance

NASDAQ EXAS traded down $1.41 during midday trading on Tuesday, hitting $51.91. The company had a trading volume of 1,740,956 shares, compared to its average volume of 2,578,314. The company has a market capitalization of $9.79 billion, a PE ratio of -9.42, a P/E/G ratio of 11.39 and a beta of 0.95. The company has a current ratio of 2.73, a quick ratio of 2.38 and a debt-to-equity ratio of 0.97. The firm has a 50-day moving average price of $54.36 and a 200-day moving average price of $51.07. Exact Sciences has a twelve month low of $39.97 and a twelve month high of $72.83.

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

Insider Activity

In other news, Director Katherine S. Zanotti sold 3,207 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $53.20, for a total transaction of $170,612.40. Following the completion of the transaction, the director directly owned 72,759 shares in the company, valued at $3,870,778.80. This trade represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Exact Sciences

Hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC grew its stake in Exact Sciences by 37.0% during the second quarter. Farther Finance Advisors LLC now owns 1,018 shares of the medical research company's stock worth $54,000 after purchasing an additional 275 shares during the period. Diversified Trust Co grew its stake in Exact Sciences by 18.0% during the second quarter. Diversified Trust Co now owns 14,702 shares of the medical research company's stock worth $781,000 after purchasing an additional 2,240 shares during the period. Kingstone Capital Partners Texas LLC acquired a new stake in Exact Sciences during the second quarter worth approximately $15,318,000. Moody National Bank Trust Division grew its stake in Exact Sciences by 7.3% during the second quarter. Moody National Bank Trust Division now owns 11,700 shares of the medical research company's stock worth $622,000 after purchasing an additional 796 shares during the period. Finally, Pallas Capital Advisors LLC grew its stake in Exact Sciences by 57.9% during the second quarter. Pallas Capital Advisors LLC now owns 13,434 shares of the medical research company's stock worth $714,000 after purchasing an additional 4,925 shares during the period. 88.82% of the stock is currently owned by institutional investors.

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.