Exact Sciences (NASDAQ:EXAS) Price Target Raised to $75.00

Exact Sciences (NASDAQ:EXAS) had its target price hoisted by BTIG Research from $65.00 to $75.00 in a research note issued to investors on Tuesday morning,Benzinga reports. BTIG Research currently has a buy rating on the medical research company’s stock.

A number of other equities research analysts also recently weighed in on EXAS. Raymond James reiterated a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. Stifel Nicolaus decreased their target price on shares of Exact Sciences from $82.00 to $67.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Sanford C. Bernstein increased their price target on shares of Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler decreased their price objective on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Finally, Citigroup dropped their target price on Exact Sciences from $80.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.29.

Exact Sciences Stock Up 2.6 %

EXAS opened at $61.69 on Tuesday. The business has a 50 day moving average of $64.20 and a 200-day moving average of $55.93. The stock has a market capitalization of $11.42 billion, a price-to-earnings ratio of -52.73 and a beta of 1.27. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72. Exact Sciences has a 1-year low of $40.62 and a 1-year high of $79.62.

Exact Sciences (NASDAQ:EXAS) last released its 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). Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The company had revenue of $708.66 million during the quarter, compared to the consensus estimate of $716.80 million. The company’s revenue was up 12.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Exact Sciences will post -1.13 earnings per share for the current year.

Insider Buying and Selling at Exact Sciences

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

Hedge Funds Weigh In On Exact Sciences

Several hedge funds have recently added to or reduced their stakes in the stock. Huntington National Bank grew its position in shares of Exact Sciences by 838.1% during the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after buying an additional 352 shares during the period. Itau Unibanco Holding S.A. bought a new position in Exact Sciences during the 2nd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC acquired a new position in Exact Sciences during the third quarter valued at approximately $34,000. Capital Performance Advisors LLP bought a new stake in Exact Sciences in the third quarter valued at approximately $35,000. Finally, Vestor Capital LLC acquired a new stake in Exact Sciences in the third quarter worth $46,000. 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.