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

Shares of Exact Sciences Co. (NASDAQ:EXAS - Get Free Report) have received an average rating of "Moderate Buy" from the twenty-two ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $70.90.

A number of research analysts have recently commented on the company. Piper Sandler dropped their price target on Exact Sciences from $75.00 to $70.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Guggenheim reiterated a "buy" rating and issued a $60.00 target price on shares of Exact Sciences in a research report on Friday, April 11th. Evercore ISI lifted their price target on Exact Sciences from $60.00 to $66.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Barclays boosted their price target on Exact Sciences from $55.00 to $75.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Finally, Robert W. Baird raised their price objective on shares of Exact Sciences from $69.00 to $72.00 and gave the company an "outperform" rating in a report on Friday, May 2nd.

Exact Sciences Price Performance

Shares of EXAS stock traded up $1.55 on Friday, reaching $56.18. The company had a trading volume of 3,750,388 shares, compared to its average volume of 2,603,025. The business's 50-day moving average is $50.26 and its 200 day moving average is $52.20. Exact Sciences has a one year low of $39.97 and a one year high of $72.83. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $10.60 billion, a PE ratio of -10.09 and a beta of 0.98.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.37) by $0.16. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The business had revenue of $706.79 million during the quarter, compared to analysts' expectations of $688.58 million. During the same period in the prior year, the company earned ($0.60) EPS. The firm's quarterly revenue was up 10.9% compared to the same quarter last year. Equities research analysts forecast that Exact Sciences will post -0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Exact Sciences

A number of hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its stake in shares of Exact Sciences by 74.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,760,241 shares of the medical research company's stock valued at $323,669,000 after acquiring an additional 2,462,165 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Exact Sciences by 120.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,128,958 shares of the medical research company's stock worth $135,453,000 after acquiring an additional 1,707,287 shares in the last quarter. Capital World Investors grew its holdings in Exact Sciences by 10.7% in the fourth quarter. Capital World Investors now owns 17,537,617 shares of the medical research company's stock worth $985,439,000 after purchasing an additional 1,696,321 shares during the period. Mackenzie Financial Corp increased its stake in Exact Sciences by 107.7% in the fourth quarter. Mackenzie Financial Corp now owns 2,919,325 shares of the medical research company's stock valued at $164,037,000 after purchasing an additional 1,513,873 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Exact Sciences during the first quarter valued at about $45,334,000. 88.82% of the stock is currently owned by institutional investors.

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.