Exact Sciences Corporation (NASDAQ:EXAS) Receives Average Rating of "Moderate Buy" from Analysts

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 received an average rating of "Moderate Buy" from the twenty-four research firms that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $68.05.

A number of research analysts have commented on EXAS shares. Piper Sandler cut their price target on shares of Exact Sciences from $70.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, August 11th. Barclays cut their price target on shares of Exact Sciences from $65.00 to $55.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Royal Bank Of Canada cut their price target on shares of Exact Sciences from $54.00 to $46.00 and set a "sector perform" rating for the company in a research note on Thursday, August 7th. UBS Group cut their price target on shares of Exact Sciences from $61.00 to $53.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Finally, Wall Street Zen upgraded shares of Exact Sciences from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th.

Insider Activity

In other news, Director James Edward Doyle sold 1,485 shares of Exact Sciences stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $42.02, for a total value of $62,399.70. Following the completion of the transaction, the director owned 59,962 shares in the company, valued at approximately $2,519,603.24. The trade was a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of EXAS. Bank Pictet & Cie Europe AG raised its stake in shares of Exact Sciences by 1.2% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 129,024 shares of the medical research company's stock valued at $7,250,000 after acquiring an additional 1,547 shares during the last quarter. Focus Partners Wealth grew its stake in shares of Exact Sciences by 20.1% during the fourth quarter. Focus Partners Wealth now owns 19,135 shares of the medical research company's stock valued at $1,085,000 after purchasing an additional 3,201 shares during the last quarter. Quantinno Capital Management LP increased its holdings in shares of Exact Sciences by 205.4% in the fourth quarter. Quantinno Capital Management LP now owns 9,991 shares of the medical research company's stock valued at $561,000 after purchasing an additional 6,720 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Exact Sciences in the fourth quarter valued at approximately $45,000. Finally, Raiffeisen Bank International AG bought a new position in Exact Sciences in the 4th quarter worth approximately $149,000. Institutional investors own 88.82% of the company's stock.

Exact Sciences Stock Down 3.7%

NASDAQ EXAS opened at $53.94 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.56 and a current ratio of 2.89. The firm has a 50-day simple moving average of $48.86 and a 200 day simple moving average of $49.30. Exact Sciences has a twelve month low of $38.81 and a twelve month high of $72.83. The stock has a market cap of $10.21 billion, a PE ratio of -9.93, a PEG ratio of 4.98 and a beta of 1.05.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The medical research company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of ($0.02) by $0.24. The firm had revenue of $811.09 million during the quarter, compared to analysts' expectations of $774.43 million. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The company's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.09) earnings per share. On average, research analysts forecast 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.

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