Exact Sciences Co. (NASDAQ:EXAS) Receives $70.90 Consensus Target Price from Analysts

Exact Sciences Co. (NASDAQ:EXAS - Get Free Report) has received an average recommendation of "Moderate Buy" from the twenty-two analysts that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, nineteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $70.90.

Several equities research analysts recently weighed in on EXAS shares. Bank of America decreased their price objective on Exact Sciences from $72.00 to $65.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Guggenheim reissued a "buy" rating and issued a $60.00 price objective on shares of Exact Sciences in a report on Friday, April 11th. Piper Sandler decreased their price objective on Exact Sciences from $75.00 to $70.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. William Blair reaffirmed an "outperform" rating on shares of Exact Sciences in a report on Thursday, February 20th. Finally, Mizuho assumed coverage on Exact Sciences in a report on Thursday, April 10th. They set an "outperform" rating and a $60.00 target price for the company.

Institutional Trading of Exact Sciences

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Exact Sciences by 3.6% in the first quarter. Vanguard Group Inc. now owns 17,637,674 shares of the medical research company's stock valued at $763,535,000 after purchasing an additional 617,384 shares during the last quarter. Capital World Investors grew its stake 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. Price T Rowe Associates Inc. MD grew its stake in shares of Exact Sciences by 11.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,403,872 shares of the medical research company's stock worth $277,225,000 after acquiring an additional 643,631 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Exact Sciences by 25.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,269,823 shares of the medical research company's stock worth $239,922,000 after acquiring an additional 876,985 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Exact Sciences by 12.4% during the first quarter. Mackenzie Financial Corp now owns 3,281,639 shares of the medical research company's stock valued at $142,062,000 after buying an additional 362,314 shares during the last quarter. Institutional investors own 88.82% of the company's stock.

Exact Sciences Stock Performance

Shares of Exact Sciences stock traded up $1.30 during trading hours on Tuesday, hitting $56.17. 4,452,396 shares of the company's stock traded hands, compared to its average volume of 2,603,789. Exact Sciences has a 12-month low of $39.97 and a 12-month high of $72.83. The stock has a market capitalization of $10.60 billion, a price-to-earnings ratio of -10.08 and a beta of 0.92. The company has a fifty day simple moving average of $45.94 and a 200-day simple moving average of $52.50. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.15 and a quick ratio of 1.93.

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, topping the consensus estimate of ($0.37) by $0.16. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. The company had revenue of $706.79 million during the quarter, compared to analyst estimates of $688.58 million. During the same quarter last year, the firm posted ($0.60) EPS. The firm's revenue for the quarter was up 10.9% on a year-over-year basis. Equities research analysts anticipate that Exact Sciences will post -0.58 EPS for the current fiscal year.

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.