Allstate Corp Takes $311,000 Position in Exact Sciences Co. (NASDAQ:EXAS)

Allstate Corp purchased a new position in Exact Sciences Co. (NASDAQ:EXAS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,532 shares of the medical research company’s stock, valued at approximately $311,000.

A number of other hedge funds also recently bought and sold shares of EXAS. Asset Planning Inc acquired a new position in shares of Exact Sciences during the 4th quarter worth approximately $40,000. Modus Advisors LLC purchased a new position in Exact Sciences during the fourth quarter valued at $43,000. AlphaQuest LLC grew its position in shares of Exact Sciences by 22,825.0% in the fourth quarter. AlphaQuest LLC now owns 917 shares of the medical research company’s stock valued at $52,000 after purchasing an additional 913 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Exact Sciences during the 4th quarter worth approximately $66,000. Finally, Quantinno Capital Management LP acquired a new position in shares of Exact Sciences during the third quarter valued at approximately $223,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Bank of America lowered their price target on Exact Sciences from $72.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Barclays reduced their target price on shares of Exact Sciences from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Royal Bank of Canada assumed coverage on Exact Sciences in a report on Thursday, March 13th. They set a “sector perform” rating and a $52.00 target price on the stock. Scotiabank lifted their price objective on Exact Sciences from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 24th. Finally, Piper Sandler dropped their target price on Exact Sciences from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.26.

Exact Sciences Trading Up 2.6 %

Shares of EXAS stock opened at $44.56 on Thursday. The stock has a market capitalization of $8.28 billion, a P/E ratio of -8.00 and a beta of 1.14. Exact Sciences Co. has a fifty-two week low of $40.62 and a fifty-two week high of $74.44. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.93 and a current ratio of 2.15. The company has a 50 day moving average price of $49.12 and a 200 day moving average price of $57.34.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.23. The business had revenue of $713.42 million for the quarter, compared to analyst estimates of $701.45 million. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. Equities research analysts predict that Exact Sciences Co. will post -0.58 EPS for the current fiscal year.

Exact Sciences 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.