Guggenheim Reaffirms "Buy" Rating for Exact Sciences (NASDAQ:EXAS)

Guggenheim reissued their buy rating on shares of Exact Sciences (NASDAQ:EXAS - Free Report) in a research report sent to investors on Friday morning,Benzinga reports. They currently have a $60.00 price objective on the medical research company's stock.

EXAS has been the subject of several other reports. Mizuho began coverage on Exact Sciences in a research note on Thursday, April 10th. They set an "outperform" rating and a $60.00 price objective for the company. Scotiabank increased their price target on Exact Sciences from $70.00 to $73.00 and gave the stock a "sector outperform" rating in a report on Monday, February 24th. Bank of America dropped their price objective on shares of Exact Sciences from $72.00 to $65.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. William Blair restated an "outperform" rating on shares of Exact Sciences in a research note on Thursday, February 20th. Finally, Piper Sandler dropped their price target on shares of Exact Sciences from $75.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $69.25.

Exact Sciences Stock Performance

EXAS traded down $1.28 during trading on Friday, hitting $42.39. 1,444,978 shares of the stock were exchanged, compared to its average volume of 2,595,561. The firm has a market capitalization of $7.87 billion, a P/E ratio of -7.61 and a beta of 1.14. Exact Sciences has a 1-year low of $39.97 and a 1-year high of $72.83. The stock has a fifty day moving average price of $46.50 and a two-hundred day moving average price of $55.48. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.29) by $0.23. The firm had revenue of $713.42 million during the quarter, compared to analysts' expectations of $701.45 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. As a group, sell-side analysts predict that Exact Sciences will post -0.58 earnings per share for the current year.

Hedge Funds Weigh In On Exact Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EXAS. Perigon Wealth Management LLC increased its stake in shares of Exact Sciences by 3.2% during the 4th quarter. Perigon Wealth Management LLC now owns 8,436 shares of the medical research company's stock worth $474,000 after purchasing an additional 264 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in Exact Sciences by 2.0% during the 4th quarter. Sanctuary Advisors LLC now owns 13,625 shares of the medical research company's stock valued at $763,000 after buying an additional 269 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in Exact Sciences by 2.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 14,447 shares of the medical research company's stock valued at $812,000 after buying an additional 300 shares during the last quarter. Integrated Advisors Network LLC increased its position in Exact Sciences by 5.7% during the first quarter. Integrated Advisors Network LLC now owns 7,036 shares of the medical research company's stock worth $305,000 after buying an additional 379 shares in the last quarter. Finally, Curi RMB Capital LLC lifted its position in shares of Exact Sciences by 1.7% in the fourth quarter. Curi RMB Capital LLC now owns 24,896 shares of the medical research company's stock valued at $1,399,000 after acquiring an additional 428 shares in the last quarter. Institutional investors and hedge funds own 88.82% of the company's stock.

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.