Brokerages Set Exact Sciences Corporation (NASDAQ:EXAS) PT at $68.05

Key Points

• Exact Sciences Corporation has received a consensus rating of "Moderate Buy" from analysts, with 19 buy ratings and an average twelve-month price target of $68.05.
• In a recent stock transaction, Director James Edward Doyle sold 1,485 shares at an average price of $42.02, reducing his ownership by 2.42%.
• The company reported earnings of $0.22 EPS for the last quarter, exceeding analysts' expectations of a negative EPS, with a revenue increase of 16% year-over-year.

Exact Sciences Corporation (NASDAQ:EXAS - Get Free Report) has earned a consensus rating of "Moderate Buy" from the twenty-four brokerages that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $68.05.

EXAS has been the subject of several research analyst reports. BTIG Research dropped their target price on shares of Exact Sciences from $65.00 to $60.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. Barclays dropped their target price on shares of Exact Sciences from $65.00 to $55.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Craig Hallum lifted their price target on shares of Exact Sciences from $65.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, September 11th. Royal Bank Of Canada decreased their price target on shares of Exact Sciences from $54.00 to $46.00 and set a "sector perform" rating on the stock in a research note on Thursday, August 7th. Finally, Evercore ISI decreased their price target on shares of Exact Sciences from $68.00 to $64.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th.

Insider Activity at Exact Sciences

In other Exact Sciences news, Director James Edward Doyle sold 1,485 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $42.02, for a total transaction of $62,399.70. Following the transaction, the director directly owned 59,962 shares of the company's stock, valued at approximately $2,519,603.24. The trade was a 2.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Great Lakes Advisors LLC increased its stake in shares of Exact Sciences by 3.7% in the 1st quarter. Great Lakes Advisors LLC now owns 4,971 shares of the medical research company's stock valued at $215,000 after acquiring an additional 178 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its position in shares of Exact Sciences by 0.8% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 22,432 shares of the medical research company's stock valued at $971,000 after acquiring an additional 187 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in Exact Sciences by 0.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 58,333 shares of the medical research company's stock worth $3,127,000 after buying an additional 217 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in Exact Sciences by 0.3% during the first quarter. OneDigital Investment Advisors LLC now owns 100,872 shares of the medical research company's stock worth $4,367,000 after buying an additional 270 shares during the last quarter. Finally, IFP Advisors Inc increased its position in Exact Sciences by 6.5% during the second quarter. IFP Advisors Inc now owns 4,466 shares of the medical research company's stock worth $237,000 after buying an additional 273 shares during the last quarter. 88.82% of the stock is owned by hedge funds and other institutional investors.

Exact Sciences Price Performance

Shares of EXAS stock traded down $0.27 during trading hours on Monday, reaching $53.32. The stock had a trading volume of 3,098,095 shares, compared to its average volume of 2,630,643. Exact Sciences has a 12 month low of $38.81 and a 12 month high of $72.83. The firm has a market capitalization of $10.09 billion, a PE ratio of -9.82, a PEG ratio of 4.95 and a beta of 1.05. The company has a current ratio of 2.89, a quick ratio of 2.56 and a debt-to-equity ratio of 0.94. The stock's fifty day simple moving average is $48.85 and its 200 day simple moving average is $49.46.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last announced its earnings results on Wednesday, August 6th. The medical research company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.24. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The business had revenue of $811.09 million during the quarter, compared to analyst estimates of $774.43 million. During the same period in the previous year, the business posted ($0.09) earnings per share. Exact Sciences's revenue for the quarter was up 16.0% on a year-over-year basis. On average, equities research analysts predict that Exact Sciences will post -0.58 EPS for the current 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.