Exact Sciences (NASDAQ:EXAS) Reaches New 52-Week Low at $53.63

Exact Sciences Co. (NASDAQ:EXAS - Get Free Report) shares reached a new 52-week low during trading on Thursday . The company traded as low as $53.63 and last traded at $54.21, with a volume of 1641622 shares changing hands. The stock had previously closed at $59.48.

Analyst Upgrades and Downgrades

EXAS has been the subject of several recent analyst reports. Citigroup cut their target price on Exact Sciences from $100.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday. William Blair restated an "outperform" rating on shares of Exact Sciences in a report on Thursday, February 22nd. Canaccord Genuity Group lowered their target price on shares of Exact Sciences from $90.00 to $85.00 and set a "buy" rating for the company in a research note on Thursday. BTIG Research reduced their price target on shares of Exact Sciences from $85.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, TheStreet cut shares of Exact Sciences from a "c-" rating to a "d+" rating in a research report on Monday, February 26th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $95.40.

Exact Sciences Stock Down 9.0 %

The firm's fifty day simple moving average is $63.58 and its 200 day simple moving average is $64.58. The company has a current ratio of 2.32, a quick ratio of 2.07 and a debt-to-equity ratio of 0.74. The company has a market cap of $9.96 billion, a price-to-earnings ratio of -47.50 and a beta of 1.26.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its earnings results on Wednesday, February 21st. The medical research company reported ($0.27) EPS for the quarter, topping analysts' consensus estimates of ($0.53) by $0.26. The firm had revenue of $646.89 million during the quarter, compared to the consensus estimate of $638.83 million. Exact Sciences had a negative net margin of 8.17% and a negative return on equity of 6.60%. The company's revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.72) earnings per share. Sell-side analysts predict that Exact Sciences Co. will post -0.86 earnings per share for the current year.

Insider Buying and Selling at Exact Sciences

In related news, General Counsel James Herriott sold 421 shares of the business's stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total value of $25,862.03. Following the completion of the sale, the general counsel now directly owns 6,494 shares of the company's stock, valued at $398,926.42. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, General Counsel James Herriott sold 421 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $61.43, for a total value of $25,862.03. Following the completion of the sale, the general counsel now directly owns 6,494 shares of the company's stock, valued at $398,926.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jacob A. Orville sold 1,879 shares of Exact Sciences stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $56.89, for a total transaction of $106,896.31. Following the completion of the transaction, the insider now directly owns 11,754 shares in the company, valued at $668,685.06. The disclosure for this sale can be found here. Insiders have sold 70,611 shares of company stock worth $4,255,377 over the last three months. Insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On Exact Sciences

Institutional investors have recently added to or reduced their stakes in the stock. Midwest Professional Planners LTD. increased its holdings in shares of Exact Sciences by 12.3% in the first quarter. Midwest Professional Planners LTD. now owns 3,088 shares of the medical research company's stock valued at $213,000 after purchasing an additional 339 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Exact Sciences by 16.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,196 shares of the medical research company's stock worth $6,160,000 after purchasing an additional 12,349 shares during the period. Edmond DE Rothschild Holding S.A. raised its stake in shares of Exact Sciences by 10.8% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 202,488 shares of the medical research company's stock worth $13,984,000 after buying an additional 19,712 shares in the last quarter. Motley Fool Asset Management LLC lifted its holdings in shares of Exact Sciences by 285.5% in the 1st quarter. Motley Fool Asset Management LLC now owns 11,300 shares of the medical research company's stock valued at $780,000 after buying an additional 8,369 shares during the period. Finally, QRG Capital Management Inc. boosted its stake in shares of Exact Sciences by 9.2% in the first quarter. QRG Capital Management Inc. now owns 35,173 shares of the medical research company's stock valued at $2,429,000 after buying an additional 2,952 shares in the last quarter. Institutional investors and hedge funds 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.