Pallas Capital Advisors LLC bought a new stake in shares of Exact Sciences Co. (NASDAQ:EXAS - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 8,509 shares of the medical research company's stock, valued at approximately $368,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EXAS. Price T Rowe Associates Inc. MD raised its position in shares of Exact Sciences by 74.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,760,241 shares of the medical research company's stock valued at $323,669,000 after buying an additional 2,462,165 shares during the last quarter. Capital World Investors increased its stake in Exact Sciences by 10.7% during the fourth quarter. Capital World Investors now owns 17,537,617 shares of the medical research company's stock valued at $985,439,000 after acquiring an additional 1,696,321 shares during the period. Mackenzie Financial Corp raised its holdings in Exact Sciences by 107.7% in the 4th quarter. Mackenzie Financial Corp now owns 2,919,325 shares of the medical research company's stock valued at $164,037,000 after acquiring an additional 1,513,873 shares in the last quarter. Norges Bank bought a new stake in shares of Exact Sciences in the 4th quarter worth approximately $50,625,000. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of Exact Sciences by 25.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,269,823 shares of the medical research company's stock worth $239,922,000 after acquiring an additional 876,985 shares during the period. Institutional investors and hedge funds own 88.82% of the company's stock.
Exact Sciences Price Performance
NASDAQ:EXAS traded down $0.49 during mid-day trading on Friday, reaching $53.52. 1,266,159 shares of the company were exchanged, compared to its average volume of 2,600,440. 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 stock has a market cap of $10.10 billion, a PE ratio of -9.61 and a beta of 0.98. Exact Sciences Co. has a 12 month low of $39.97 and a 12 month high of $72.83. The company has a fifty day moving average of $50.99 and a 200 day moving average of $52.11.
Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical research company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.16. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. The business had revenue of $706.79 million for the quarter, compared to analysts' expectations of $688.58 million. During the same period in the prior year, the firm earned ($0.60) earnings per share. Exact Sciences's revenue was up 10.9% compared to the same quarter last year. On average, research analysts anticipate that Exact Sciences Co. will post -0.58 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of research analysts recently commented on EXAS shares. William Blair restated an "outperform" rating on shares of Exact Sciences in a research note on Thursday, February 20th. Bank of America dropped their price objective on shares of Exact Sciences from $72.00 to $65.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Barclays raised their price objective on shares of Exact Sciences from $55.00 to $75.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Guggenheim reissued a "buy" rating and issued a $60.00 target price on shares of Exact Sciences in a research note on Friday, April 11th. Finally, Evercore ISI raised their price target on shares of Exact Sciences from $60.00 to $66.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $70.90.
View Our Latest Stock Analysis on Exact Sciences
Exact Sciences Company Profile
(
Free Report)
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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