Weiss Ratings Reaffirms "Sell (D-)" Rating for Exact Sciences (NASDAQ:EXAS)

Key Points

• Weiss Ratings has restated its "Sell (D-)" rating for Exact Sciences (NASDAQ:EXAS), indicating continued concerns regarding the company's stock performance.
• Exact Sciences showed a significant quarterly revenue increase of 16.0% compared to the same period last year, reporting $811.09 million in revenue.
• According to analysts, the stock has a consensus rating of "Moderate Buy" with an average price target of $69.19, despite mixed ratings from various equity research firms.

Exact Sciences (NASDAQ:EXAS - Get Free Report)'s stock had its "sell (d-)" rating restated by equities researchers at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Other analysts have also recently issued research reports about the stock. Craig Hallum upped their price target on shares of Exact Sciences from $65.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, September 11th. UBS Group dropped their price objective on shares of Exact Sciences from $61.00 to $53.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Barclays upped their price objective on shares of Exact Sciences from $55.00 to $65.00 and gave the company an "overweight" rating in a report on Thursday, October 2nd. Royal Bank Of Canada dropped their price objective on shares of Exact Sciences from $54.00 to $46.00 and set a "sector perform" rating on the stock in a report on Thursday, August 7th. Finally, BTIG Research dropped their price objective on shares of Exact Sciences from $65.00 to $60.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $69.19.

Exact Sciences Stock Performance

Shares of EXAS opened at $59.32 on Wednesday. The company has a current ratio of 2.89, a quick ratio of 2.56 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $11.23 billion, a P/E ratio of -10.92, a price-to-earnings-growth ratio of 5.33 and a beta of 1.24. The firm's fifty day simple moving average is $50.22 and its two-hundred day simple moving average is $50.33. Exact Sciences has a 12 month low of $38.81 and a 12 month high of $72.83.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $774.43 million. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The business's quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. As a group, analysts predict that Exact Sciences will post -0.58 EPS for the current year.

Insider Buying and Selling

In other Exact Sciences news, Director James Edward Doyle sold 1,485 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $42.02, for a total value of $62,399.70. Following the completion of the sale, the director owned 59,962 shares in the company, valued at approximately $2,519,603.24. This trade represents a 2.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On Exact Sciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in EXAS. Merit Financial Group LLC increased its stake in Exact Sciences by 110.0% in the 1st quarter. Merit Financial Group LLC now owns 8,799 shares of the medical research company's stock valued at $381,000 after buying an additional 4,609 shares during the last quarter. Park Avenue Securities LLC increased its stake in Exact Sciences by 6.1% in the 1st quarter. Park Avenue Securities LLC now owns 25,335 shares of the medical research company's stock valued at $1,097,000 after buying an additional 1,449 shares during the last quarter. Pallas Capital Advisors LLC purchased a new stake in Exact Sciences in the 1st quarter valued at about $368,000. GAMMA Investing LLC increased its stake in Exact Sciences by 15.5% in the 1st quarter. GAMMA Investing LLC now owns 4,243 shares of the medical research company's stock valued at $184,000 after buying an additional 569 shares during the last quarter. Finally, Integrated Advisors Network LLC increased its stake in Exact Sciences by 5.7% in the 1st quarter. Integrated Advisors Network LLC now owns 7,036 shares of the medical research company's stock valued at $305,000 after buying an additional 379 shares during the last quarter. Hedge funds and other 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.

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