Exact Sciences (NASDAQ:EXAS) Stock Price Expected to Rise, Evercore ISI Analyst Says

Exact Sciences (NASDAQ:EXAS - Get Free Report) had its target price increased by equities researchers at Evercore ISI from $60.00 to $66.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the medical research company's stock. Evercore ISI's price objective indicates a potential upside of 23.76% from the company's current price.

EXAS has been the topic of several other research reports. Royal Bank of Canada started coverage on Exact Sciences in a report on Thursday, March 13th. They set a "sector perform" rating and a $52.00 price objective on the stock. Barclays cut their price target on shares of Exact Sciences from $65.00 to $55.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Scotiabank lifted their price objective on shares of Exact Sciences from $70.00 to $73.00 and gave the stock a "sector outperform" rating in a research report on Monday, February 24th. Guggenheim reissued a "buy" rating and set a $60.00 price target on shares of Exact Sciences in a research report on Friday, April 11th. Finally, Benchmark restated a "buy" rating and set a $65.00 price objective on shares of Exact Sciences in a research report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $70.90.

Exact Sciences Price Performance

NASDAQ EXAS traded up $1.78 on Friday, reaching $53.33. The company's stock had a trading volume of 4,057,989 shares, compared to its average volume of 2,643,092. The firm's 50 day moving average is $45.02 and its two-hundred day moving average is $53.20. The stock has a market cap of $10.06 billion, a PE ratio of -9.57 and a beta of 0.92. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15. Exact Sciences has a twelve month low of $39.97 and a twelve month high of $72.83.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.16. The firm had revenue of $706.79 million for the quarter, compared to analyst estimates of $688.58 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The firm's quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.60) earnings per share. As a group, sell-side analysts predict that Exact Sciences will post -0.58 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EXAS. Larson Financial Group LLC boosted its holdings in Exact Sciences by 2,804.8% during the first quarter. Larson Financial Group LLC now owns 610 shares of the medical research company's stock valued at $26,000 after acquiring an additional 589 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Exact Sciences in the first quarter valued at $34,000. Asset Planning Inc bought a new position in Exact Sciences in the 4th quarter valued at $40,000. Modus Advisors LLC bought a new stake in shares of Exact Sciences during the 4th quarter valued at $43,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Exact Sciences during the fourth quarter valued at approximately $45,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

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.