Exact Sciences' (EXAS) "Neutral" Rating Reaffirmed at BTIG Research

Key Points

• BTIG Research reiterated a neutral rating on Exact Sciences, and the analyst mix (21 Hold, 1 Sell) produces a MarketBeat consensus of Reduce with a consensus target price of $92.13.
• Shares traded around $104.91 (market cap ~$20.0B) and near a one‑year high, while the company posted an EPS miss (‑$0.21 vs. $0.08 expected) but revenue of $878.4M beat estimates and rose 23.1% year‑over‑year.
• Institutional ownership is high (~88.8%), with large new stakes added by HBK Investments, Pentwater Capital and Norges Bank worth hundreds of millions of dollars.

Exact Sciences (NASDAQ:EXAS - Get Free Report)'s stock had its "neutral" rating reiterated by BTIG Research in a research report issued on Tuesday,Benzinga reports.

Several other equities research analysts also recently commented on EXAS. Mizuho reissued a "neutral" rating and issued a $105.00 price objective (up from $85.00) on shares of Exact Sciences in a report on Tuesday, January 20th. Stifel Nicolaus restated a "hold" rating and set a $105.00 target price (up from $80.00) on shares of Exact Sciences in a report on Friday, November 28th. Canaccord Genuity Group lowered shares of Exact Sciences from a "buy" rating to a "hold" rating and upped their price target for the stock from $85.00 to $105.00 in a research report on Tuesday, November 25th. Jefferies Financial Group cut shares of Exact Sciences from a "buy" rating to a "hold" rating and increased their price target for the company from $90.00 to $105.00 in a research note on Monday, November 24th. Finally, Evercore set a $105.00 price objective on shares of Exact Sciences and gave the company an "in-line" rating in a research report on Monday, January 5th. Twenty-one analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $92.13.

Exact Sciences Trading Up 1.0%

Exact Sciences stock opened at $104.91 on Tuesday. The company has a market cap of $20.03 billion, a price-to-earnings ratio of -95.37, a P/E/G ratio of 2.39 and a beta of 1.41. The firm has a 50-day moving average of $103.11 and a 200-day moving average of $86.48. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.43 and a quick ratio of 2.17. Exact Sciences has a one year low of $38.81 and a one year high of $104.98.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its earnings results on Friday, February 13th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.29). The company had revenue of $878.38 million for the quarter, compared to the consensus estimate of $860.59 million. Exact Sciences had a positive return on equity of 0.53% and a negative net margin of 6.40%.The business's revenue was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.06) EPS. On average, equities analysts expect that Exact Sciences will post -0.58 earnings per share for the current fiscal 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 the stock. HBK Investments L P bought a new position in shares of Exact Sciences in the fourth quarter valued at about $776,592,000. Pentwater Capital Management LP bought a new stake in shares of Exact Sciences during the 4th quarter worth about $736,310,000. Ameriprise Financial Inc. grew its stake in Exact Sciences by 105.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,493,085 shares of the medical research company's stock valued at $245,802,000 after buying an additional 2,310,139 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Exact Sciences by 31.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,909,501 shares of the medical research company's stock valued at $213,889,000 after acquiring an additional 939,888 shares during the period. Finally, Norges Bank bought a new position in Exact Sciences in the 4th quarter valued at about $348,425,000. 88.82% of the stock is owned by institutional investors.

Exact Sciences Company Profile

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company's flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.

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