Exact Sciences Corporation (NASDAQ:EXAS) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Exact Sciences Corporation has received a consensus rating of "Moderate Buy" from 22 analysts, with one strong buy, two hold, and 19 buy recommendations.
• The average 1-year price target for Exact Sciences is $70.50, while several analysts have varying price targets, including Barclays at $65.00 and Guggenheim at $60.00.
• Exact Sciences reported a revenue of $706.79 million for the last quarter, exceeding analysts' expectations and showing a 10.9% increase compared to the same quarter last year.

Shares of Exact Sciences Corporation (NASDAQ:EXAS - Get Free Report) have earned a consensus rating of "Moderate Buy" from the twenty-two analysts that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, nineteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $70.50.

A number of research analysts have weighed in on the company. Barclays reduced their price target on Exact Sciences from $75.00 to $65.00 and set an "overweight" rating on the stock in a research note on Tuesday, June 24th. Guggenheim reissued a "buy" rating and set a $60.00 price target on shares of Exact Sciences in a research note on Friday, April 11th. Royal Bank Of Canada increased their price target on Exact Sciences from $52.00 to $54.00 and gave the stock a "sector perform" rating in a research note on Friday, May 2nd. Evercore ISI increased their target price on Exact Sciences from $66.00 to $68.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Finally, Robert W. Baird increased their target price on Exact Sciences from $69.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd.

Exact Sciences Trading Down 0.6%

Shares of Exact Sciences stock opened at $48.49 on Friday. Exact Sciences has a fifty-two week low of $39.97 and a fifty-two week high of $72.83. The firm has a market cap of $9.15 billion, a PE ratio of -8.80, a P/E/G ratio of 10.35 and a beta of 0.95. The business's fifty day moving average is $53.71 and its two-hundred day moving average is $50.59. The company has a quick ratio of 2.38, a current ratio of 2.73 and a debt-to-equity ratio of 0.97.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported ($0.21) earnings per share for the quarter, topping analysts' consensus estimates of ($0.37) by $0.16. Exact Sciences had a negative return on equity of 3.75% and a negative net margin of 36.06%. The company had revenue of $706.79 million for the quarter, compared to analyst estimates of $688.58 million. During the same quarter in the prior year, the company posted ($0.60) EPS. The business's revenue for the quarter was up 10.9% compared to the same quarter last year. Analysts anticipate that Exact Sciences will post -0.58 earnings per share for the current year.

Insiders Place Their Bets

In other Exact Sciences news, Director Katherine S. Zanotti sold 3,207 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $53.20, for a total value of $170,612.40. Following the completion of the transaction, the director directly owned 72,759 shares of the company's stock, valued at $3,870,778.80. This represents a 4.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Exact Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Great Lakes Advisors LLC boosted its position in 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 buying an additional 178 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in Exact Sciences by 0.8% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 22,432 shares of the medical research company's stock valued at $971,000 after buying an additional 187 shares during the last quarter. OneDigital Investment Advisors LLC boosted its position in Exact Sciences by 0.3% in the 1st quarter. OneDigital Investment Advisors LLC now owns 100,872 shares of the medical research company's stock valued at $4,367,000 after buying an additional 270 shares during the last quarter. IFP Advisors Inc boosted its position in Exact Sciences by 6.5% in the 2nd quarter. IFP Advisors Inc now owns 4,466 shares of the medical research company's stock valued at $237,000 after buying an additional 273 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Exact Sciences by 37.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,018 shares of the medical research company's stock valued at $54,000 after buying an additional 275 shares during the last quarter. 88.82% of the stock is owned by hedge funds and other institutional investors.

About Exact Sciences

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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