Exact Sciences Co. (NASDAQ:EXAS) Shares Purchased by Granahan Investment Management LLC

Granahan Investment Management LLC grew its stake in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 8.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 444,064 shares of the medical research company's stock after acquiring an additional 33,823 shares during the period. Granahan Investment Management LLC owned about 0.24% of Exact Sciences worth $24,952,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of EXAS. Asset Planning Inc acquired a new position in shares of Exact Sciences in the 4th quarter valued at $40,000. AlphaQuest LLC boosted its holdings in shares of Exact Sciences by 22,825.0% in the fourth quarter. AlphaQuest LLC now owns 917 shares of the medical research company's stock worth $52,000 after buying an additional 913 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Exact Sciences in the fourth quarter worth approximately $66,000. Ostrum Asset Management raised its holdings in shares of Exact Sciences by 28.4% during the fourth quarter. Ostrum Asset Management now owns 2,382 shares of the medical research company's stock valued at $134,000 after acquiring an additional 527 shares during the period. Finally, Kieckhefer Group LLC purchased a new stake in shares of Exact Sciences in the 4th quarter valued at approximately $188,000. 88.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on EXAS shares. Guggenheim reissued a "buy" rating and set a $60.00 target price on shares of Exact Sciences in a research note on Friday, April 11th. Barclays upped their price target on Exact Sciences from $55.00 to $75.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Benchmark reaffirmed a "buy" rating and set a $65.00 target price on shares of Exact Sciences in a research note on Monday, January 13th. Robert W. Baird increased their price target on shares of Exact Sciences from $69.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Finally, Royal Bank of Canada boosted their price objective on shares of Exact Sciences from $52.00 to $54.00 and gave the company a "sector perform" rating in a research report on Friday, May 2nd. Two 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. According to data from MarketBeat.com, Exact Sciences currently has an average rating of "Moderate Buy" and an average price target of $70.90.

Exact Sciences Price Performance

NASDAQ EXAS opened at $51.72 on Friday. The company has a market cap of $9.76 billion, a P/E ratio of -9.29 and a beta of 0.92. Exact Sciences Co. has a 1 year low of $39.97 and a 1 year high of $72.83. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. The company has a fifty day simple moving average of $45.52 and a 200 day simple moving average of $52.83.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported ($0.21) EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $706.79 million for the quarter, compared to analyst estimates of $688.58 million. During the same period in the previous year, the company posted ($0.60) earnings per share. The firm's revenue for the quarter was up 10.9% on a year-over-year basis. On average, sell-side analysts predict that Exact Sciences Co. will post -0.58 EPS for the current year.

Exact Sciences 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.

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