Exact Sciences’ (EXAS) Outperform Rating Reaffirmed at William Blair

Exact Sciences (NASDAQ:EXAS)‘s stock had its “outperform” rating reiterated by equities researchers at William Blair in a research note issued to investors on Thursday,RTT News reports.

Several other analysts have also issued reports on the stock. Piper Sandler reduced their price objective on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Benchmark reaffirmed a “buy” rating and issued a $65.00 price target on shares of Exact Sciences in a report on Monday, January 13th. Evercore ISI lowered their price target on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Sanford C. Bernstein increased their price objective on Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Citigroup cut their price target on Exact Sciences from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Exact Sciences presently has a consensus rating of “Moderate Buy” and an average target price of $72.06.

Exact Sciences Stock Performance

NASDAQ:EXAS traded down $1.70 during midday trading on Thursday, hitting $48.78. The company’s stock had a trading volume of 2,490,161 shares, compared to its average volume of 2,215,221. The firm has a market cap of $9.03 billion, a P/E ratio of -41.71 and a beta of 1.24. Exact Sciences has a fifty-two week low of $40.62 and a fifty-two week high of $79.62. The firm’s 50 day moving average is $55.41 and its 200-day moving average is $60.10. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.23. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The firm had revenue of $713.42 million for the quarter, compared to analyst estimates of $701.45 million. Equities analysts anticipate that Exact Sciences will post -1.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Exact Sciences

Several large investors have recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Exact Sciences by 115.5% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 236,617 shares of the medical research company’s stock valued at $13,296,000 after acquiring an additional 126,802 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Exact Sciences by 6.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,421,671 shares of the medical research company’s stock worth $79,884,000 after buying an additional 81,774 shares in the last quarter. Vident Advisory LLC raised its holdings in shares of Exact Sciences by 22.4% in the 4th quarter. Vident Advisory LLC now owns 22,447 shares of the medical research company’s stock worth $1,261,000 after buying an additional 4,110 shares in the last quarter. Spyglass Capital Management LLC raised its holdings in shares of Exact Sciences by 10.2% in the 4th quarter. Spyglass Capital Management LLC now owns 1,539,436 shares of the medical research company’s stock worth $86,501,000 after buying an additional 142,343 shares in the last quarter. Finally, Triglav Skladi D.O.O. acquired a new position in shares of Exact Sciences in the 4th quarter worth approximately $1,025,000. 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.