Exact Sciences (NASDAQ:EXAS) Shares Up 5.7% - What's Next?

Shares of Exact Sciences Co. (NASDAQ:EXAS - Get Free Report) traded up 5.7% during trading on Monday . The stock traded as high as $44.17 and last traded at $43.94. 1,282,280 shares traded hands during trading, a decline of 51% from the average session volume of 2,600,964 shares. The stock had previously closed at $41.58.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Bank of America lowered their target price 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. Benchmark reaffirmed a "buy" rating and issued a $65.00 price objective on shares of Exact Sciences in a research note on Monday, January 13th. Piper Sandler decreased their target price on Exact Sciences from $75.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Royal Bank of Canada assumed coverage on Exact Sciences in a research note on Thursday, March 13th. They issued a "sector perform" rating and a $52.00 price target for the company. Finally, William Blair reiterated an "outperform" rating on shares of Exact Sciences in a research report on Thursday, February 20th. 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 stock. According to data from MarketBeat.com, Exact Sciences has an average rating of "Moderate Buy" and an average target price of $69.25.

Exact Sciences Stock Performance

The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97. The business has a 50 day moving average price of $45.34 and a 200 day moving average price of $54.12. The stock has a market cap of $8.44 billion, a P/E ratio of -8.16 and a beta of 1.14.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.23. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. The company had revenue of $713.42 million for the quarter, compared to the consensus estimate of $701.45 million. As a group, sell-side analysts expect that Exact Sciences Co. will post -0.58 EPS for the current year.

Institutional Investors Weigh In On Exact Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in Exact Sciences in the 1st quarter worth about $34,000. Asset Planning Inc bought a new position in Exact Sciences in the fourth quarter worth approximately $40,000. Modus Advisors LLC purchased a new position in Exact Sciences during the 4th quarter worth $43,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Exact Sciences during the 4th quarter valued at $45,000. Finally, AlphaQuest LLC lifted its holdings in shares of Exact Sciences by 22,825.0% in the 4th quarter. AlphaQuest LLC now owns 917 shares of the medical research company's stock worth $52,000 after buying an additional 913 shares during the period. Institutional investors 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.