Exact Sciences Co. (NASDAQ:EXAS) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Exact Sciences Co. (NASDAQ:EXAS - Get Free Report) have earned an average rating of "Moderate Buy" from the twenty-two analysts that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $69.25.

EXAS has been the topic of several research analyst reports. Piper Sandler reduced their price objective on Exact Sciences from $75.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. William Blair reaffirmed an "outperform" rating on shares of Exact Sciences in a research note on Thursday, February 20th. Mizuho initiated coverage on Exact Sciences in a research note on Thursday, April 10th. They issued an "outperform" rating and a $60.00 price objective on the stock. Guggenheim reaffirmed a "buy" rating and issued a $60.00 price objective on shares of Exact Sciences in a research note on Friday, April 11th. Finally, Scotiabank lifted their price target on Exact Sciences from $70.00 to $73.00 and gave the company a "sector outperform" rating in a research note on Monday, February 24th.

Exact Sciences Stock Performance

Shares of NASDAQ:EXAS traded up $1.41 during trading on Friday, reaching $45.56. 305,769 shares of the stock were exchanged, compared to its average volume of 2,393,126. Exact Sciences has a 12 month low of $39.97 and a 12 month high of $72.83. The firm has a market cap of $8.46 billion, a PE ratio of -8.18 and a beta of 1.14. The stock has a 50-day moving average price of $45.60 and a 200-day moving average price of $54.62. 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 (NASDAQ:EXAS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.23. The business had revenue of $713.42 million during the quarter, compared to analysts' expectations of $701.45 million. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. Research analysts expect that Exact Sciences will post -0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Exact Sciences

Hedge funds have recently added to or reduced their stakes in the business. Asset Planning Inc bought a new stake in Exact Sciences in the fourth quarter worth approximately $40,000. Modus Advisors LLC bought a new stake in Exact Sciences in the fourth quarter worth approximately $43,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Exact Sciences in the fourth quarter worth approximately $45,000. AlphaQuest LLC increased its holdings in shares of Exact Sciences by 22,825.0% during the fourth quarter. AlphaQuest LLC now owns 917 shares of the medical research company's stock valued at $52,000 after acquiring an additional 913 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Exact Sciences during the fourth quarter valued at approximately $66,000. 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.