Exact Sciences (NASDAQ:EXAS) Given "Buy" Rating at Citigroup

Citigroup reiterated their buy rating on shares of Exact Sciences (NASDAQ:EXAS - Free Report) in a research report released on Wednesday morning, Benzinga reports. They currently have a $100.00 price objective on the medical research company's stock.

Several other analysts have also recently commented on the company. Canaccord Genuity Group decreased their target price on Exact Sciences from $100.00 to $90.00 and set a buy rating on the stock in a report on Thursday, February 22nd. William Blair reissued an outperform rating on shares of Exact Sciences in a research note on Thursday, February 22nd. Benchmark raised Exact Sciences from a hold rating to a buy rating and set a $91.00 price target on the stock in a research report on Tuesday, January 2nd. TheStreet lowered Exact Sciences from a c- rating to a d+ rating in a research report on Monday, February 26th. Finally, Wolfe Research began coverage on Exact Sciences in a research report on Wednesday, December 13th. They issued an outperform rating and a $95.00 target price on the stock. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $97.44.

Exact Sciences Stock Performance

Shares of NASDAQ EXAS traded down $0.92 during midday trading on Wednesday, reaching $72.82. 4,852,043 shares of the company traded hands, compared to its average volume of 2,239,430. Exact Sciences has a 52 week low of $56.05 and a 52 week high of $100.77. The stock has a 50-day moving average price of $62.11 and a 200 day moving average price of $65.07. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.32 and a quick ratio of 2.07. The company has a market cap of $13.22 billion, a price-to-earnings ratio of -61.80 and a beta of 1.25.

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

Insider Buying and Selling at Exact Sciences

In other news, CEO Kevin T. Conroy sold 14,791 shares of the company's stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $61.43, for a total transaction of $908,611.13. Following the completion of the sale, the chief executive officer now directly owns 1,224,357 shares in the company, valued at approximately $75,212,250.51. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Kevin T. Conroy sold 14,791 shares of the company's stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $61.43, for a total transaction of $908,611.13. Following the completion of the sale, the chief executive officer now directly owns 1,224,357 shares in the company, valued at approximately $75,212,250.51. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Sarah Condella sold 2,000 shares of the company's stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $70.00, for a total value of $140,000.00. Following the sale, the executive vice president now owns 73,787 shares of the company's stock, valued at $5,165,090. The disclosure for this sale can be found here. Insiders have sold a total of 67,113 shares of company stock valued at $4,025,273 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Exact Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of EXAS. Segall Bryant & Hamill LLC increased its stake in shares of Exact Sciences by 4.7% in the second quarter. Segall Bryant & Hamill LLC now owns 3,315 shares of the medical research company's stock valued at $311,000 after buying an additional 150 shares during the period. Harbour Investments Inc. grew its stake in Exact Sciences by 0.6% during the first quarter. Harbour Investments Inc. now owns 26,279 shares of the medical research company's stock worth $1,782,000 after purchasing an additional 162 shares during the period. Strategic Blueprint LLC grew its stake in Exact Sciences by 3.1% during the third quarter. Strategic Blueprint LLC now owns 5,449 shares of the medical research company's stock worth $372,000 after purchasing an additional 163 shares during the period. Green Alpha Advisors LLC grew its stake in Exact Sciences by 3.5% during the third quarter. Green Alpha Advisors LLC now owns 4,893 shares of the medical research company's stock worth $334,000 after purchasing an additional 165 shares during the period. Finally, Asahi Life Asset Management CO. LTD. grew its stake in Exact Sciences by 4.2% during the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 4,390 shares of the medical research company's stock worth $325,000 after purchasing an additional 175 shares during the period. Institutional investors and hedge funds own 88.82% of the company's stock.

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.