Exact Sciences (NASDAQ:EXAS) Earns Overweight Rating from Analysts at Barclays

Research analysts at Barclays started coverage on shares of Exact Sciences (NASDAQ:EXASGet Free Report) in a report released on Thursday,Briefing.com Automated Import reports. The brokerage set an “overweight” rating and a $70.00 price target on the medical research company’s stock. Barclays‘s price target would indicate a potential upside of 27.76% from the stock’s previous close.

EXAS has been the subject of a number of other reports. Craig Hallum decreased their price target on Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Jefferies Financial Group raised their price objective on shares of Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Citigroup cut their target price on Exact Sciences from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Robert W. Baird decreased their price objective on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Finally, Bank of America decreased their target price on Exact Sciences from $75.00 to $72.00 and set a “buy” rating for the company in a research report on Friday, December 13th. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $72.76.

View Our Latest Research Report on EXAS

Exact Sciences Price Performance

Shares of EXAS stock opened at $54.79 on Thursday. Exact Sciences has a twelve month low of $40.62 and a twelve month high of $79.62. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72. The company has a market cap of $10.14 billion, a P/E ratio of -46.83 and a beta of 1.24. The business has a fifty day simple moving average of $57.32 and a 200 day simple moving average of $59.35.

Exact Sciences (NASDAQ:EXASGet Free Report) last released its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The business had revenue of $708.66 million for the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, sell-side analysts forecast that Exact Sciences will post -1.1 EPS for the current fiscal year.

Insider Transactions at Exact Sciences

In other Exact Sciences news, CEO Kevin T. Conroy purchased 19,500 shares of the stock in a transaction on Wednesday, November 13th. The shares were purchased at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the acquisition, the chief executive officer now directly owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. The trade was a 1.85 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.36% of the company’s stock.

Hedge Funds Weigh In On Exact Sciences

A number of institutional investors have recently made changes to their positions in EXAS. Dimensional Fund Advisors LP increased its stake in Exact Sciences by 12.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,002,784 shares of the medical research company’s stock valued at $42,389,000 after acquiring an additional 108,296 shares during the last quarter. Amalgamated Bank increased its position in shares of Exact Sciences by 2.7% during the 2nd quarter. Amalgamated Bank now owns 10,937 shares of the medical research company’s stock valued at $462,000 after purchasing an additional 284 shares during the last quarter. Xponance Inc. raised its stake in shares of Exact Sciences by 3.8% during the second quarter. Xponance Inc. now owns 21,576 shares of the medical research company’s stock worth $912,000 after acquiring an additional 799 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Exact Sciences by 61.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 34,787 shares of the medical research company’s stock valued at $1,470,000 after purchasing an additional 13,213 shares in the last quarter. Finally, Armistice Capital LLC grew its holdings in shares of Exact Sciences by 91.6% during the 2nd quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock valued at $59,154,000 after purchasing an additional 669,438 shares during the last quarter. Institutional investors own 88.82% of the company’s stock.

About Exact Sciences

(Get Free Report)

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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Analyst Recommendations for Exact Sciences (NASDAQ:EXAS)

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