Exact Sciences Co. (NASDAQ:EXAS) Receives Average Recommendation of "Moderate Buy" from Brokerages

Exact Sciences Co. (NASDAQ:EXAS - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twenty-two analysts that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, nineteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $70.90.

Several analysts have commented on EXAS shares. Robert W. Baird lifted their target price on shares of Exact Sciences from $69.00 to $72.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Mizuho started coverage on shares of Exact Sciences in a research note on Thursday, April 10th. They issued an "outperform" rating and a $60.00 target price for the company. Evercore ISI lifted their target price on shares of Exact Sciences from $60.00 to $66.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Royal Bank of Canada lifted their price target on shares of Exact Sciences from $52.00 to $54.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd. Finally, William Blair reiterated an "outperform" rating on shares of Exact Sciences in a report on Thursday, February 20th.

Hedge Funds Weigh In On Exact Sciences

A number of institutional investors have recently added to or reduced their stakes in EXAS. Larson Financial Group LLC lifted its holdings in 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 worth $26,000 after buying an additional 589 shares in the last quarter. National Pension Service lifted its holdings in Exact Sciences by 75.1% in the 1st quarter. National Pension Service now owns 681 shares of the medical research company's stock worth $29,000 after buying an additional 292 shares in the last quarter. SVB Wealth LLC acquired a new position in Exact Sciences in the 1st quarter worth $30,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Exact Sciences in the 1st quarter worth $34,000. Finally, Banque Cantonale Vaudoise acquired a new position in Exact Sciences in the 1st quarter worth $34,000. Institutional investors and hedge funds own 88.82% of the company's stock.

Exact Sciences Trading Up 0.9%

Shares of EXAS opened at $54.87 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.15 and a quick ratio of 1.93. The firm has a 50 day simple moving average of $49.82 and a 200-day simple moving average of $52.17. Exact Sciences has a 1-year low of $39.97 and a 1-year high of $72.83. The stock has a market cap of $10.35 billion, a price-to-earnings ratio of -9.85 and a beta of 0.92.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its 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. The firm had revenue of $706.79 million during the quarter, compared to analysts' expectations of $688.58 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. Exact Sciences's revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.60) EPS. Equities analysts forecast that Exact Sciences will post -0.58 EPS for the current fiscal year.

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.

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.