Exact Sciences (NASDAQ:EXAS) Price Target Raised to $75.00 at BTIG Research

Key Points

• BTIG Research has raised its target price for Exact Sciences from $60.00 to $75.00, indicating a potential upside of 18.28% from the current stock price.
• Multiple analysts have different ratings on Exact Sciences, with two ratings as Strong Buy, nineteen as Buy, and one as Sell, reflecting varied investor confidence.
• Exact Sciences recently reported quarterly earnings of $0.22 EPS, significantly exceeding analysts' expectations, alongside a year-over-year revenue growth of 16.0%.

Exact Sciences (NASDAQ:EXAS - Get Free Report) had its target price hoisted by investment analysts at BTIG Research from $60.00 to $75.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the medical research company's stock. BTIG Research's target price would suggest a potential upside of 18.28% from the stock's current price.

A number of other research analysts have also recently weighed in on EXAS. Royal Bank Of Canada reduced their target price on Exact Sciences from $54.00 to $46.00 and set a "sector perform" rating on the stock in a report on Thursday, August 7th. Barclays lifted their target price on Exact Sciences from $55.00 to $65.00 and gave the company an "overweight" rating in a report on Thursday, October 2nd. Piper Sandler lifted their target price on Exact Sciences from $60.00 to $70.00 and gave the company an "overweight" rating in a report on Wednesday, October 8th. Zacks Research raised Exact Sciences from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 6th. Finally, Cowen reissued a "buy" rating on shares of Exact Sciences in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $69.90.

Exact Sciences Price Performance

Shares of NASDAQ:EXAS opened at $63.41 on Wednesday. The company has a market cap of $12.00 billion, a P/E ratio of -11.68, a P/E/G ratio of 5.56 and a beta of 1.24. The company has a quick ratio of 2.56, a current ratio of 2.89 and a debt-to-equity ratio of 0.94. Exact Sciences has a 52 week low of $38.81 and a 52 week high of $72.83. The business has a fifty day simple moving average of $53.11 and a 200-day simple moving average of $51.39.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The medical research company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of ($0.02) by $0.24. The business had revenue of $811.09 million during the quarter, compared to the consensus estimate of $774.43 million. Exact Sciences had a negative return on equity of 1.75% and a negative net margin of 34.19%.The business's revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.09) earnings per share. Equities research analysts forecast that Exact Sciences will post -0.58 EPS for the current year.

Insider Activity

In other news, Director James Edward Doyle sold 2,000 shares of Exact Sciences stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $60.00, for a total transaction of $120,000.00. Following the sale, the director directly owned 57,962 shares of the company's stock, valued at approximately $3,477,720. The trade was a 3.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.20% of the company's stock.

Institutional Trading of Exact Sciences

A number of hedge funds and other institutional investors have recently modified their holdings of EXAS. Larson Financial Group LLC increased its position in shares of 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 worth $26,000 after acquiring an additional 589 shares during the last quarter. National Pension Service grew its stake in Exact Sciences by 75.1% in the first quarter. National Pension Service now owns 681 shares of the medical research company's stock worth $29,000 after purchasing an additional 292 shares in the last quarter. SVB Wealth LLC acquired a new position in Exact Sciences in the first quarter worth about $30,000. True Wealth Design LLC grew its stake in Exact Sciences by 951.8% in the second quarter. True Wealth Design LLC now owns 589 shares of the medical research company's stock worth $31,000 after purchasing an additional 533 shares in the last quarter. Finally, Country Trust Bank acquired a new position in Exact Sciences in the second quarter worth about $32,000. 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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