Exact Sciences (NASDAQ:EXAS) Price Target Raised to $86.00

Exact Sciences (NASDAQ:EXAS) had its target price increased by TD Cowen from $82.00 to $86.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the medical research company’s stock.

EXAS has been the subject of several other research reports. The Goldman Sachs Group cut their price target on Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Sanford C. Bernstein increased their price target on Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. BTIG Research raised their target price on Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday. Piper Sandler cut their target price on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Finally, Benchmark cut their target price on Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, Exact Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $75.29.

Exact Sciences Stock Up 2.6 %

Shares of NASDAQ:EXAS opened at $61.69 on Tuesday. The company has a market capitalization of $11.42 billion, a PE ratio of -52.73 and a beta of 1.27. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93. The business has a fifty day moving average price of $64.20 and a two-hundred day moving average price of $55.93. Exact Sciences has a 1 year low of $40.62 and a 1 year high of $79.62.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The firm had revenue of $708.66 million for the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. Analysts forecast that Exact Sciences will post -1.13 earnings per share for the current year.

Insider Activity at Exact Sciences

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the transaction, the executive vice president now directly owns 12,758 shares of the company’s stock, valued at $893,060. The trade was a 6.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kevin T. Conroy purchased 19,500 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was bought at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the purchase, the chief executive officer now directly owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. This trade represents a 1.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.36% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Exact Sciences

A number of large investors have recently bought and sold shares of EXAS. Huntington National Bank increased its stake in Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after purchasing an additional 352 shares during the period. Itau Unibanco Holding S.A. purchased a new position in Exact Sciences in the 2nd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC purchased a new position in Exact Sciences in the 3rd quarter worth approximately $34,000. Capital Performance Advisors LLP purchased a new position in Exact Sciences in the 3rd quarter worth approximately $35,000. Finally, Vestor Capital LLC bought a new stake in shares of Exact Sciences in the 3rd quarter worth approximately $46,000. 88.82% of the stock is owned by hedge funds and other institutional investors.

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.