8,594 Shares in Exact Sciences Co. (NASDAQ:EXAS) Acquired by Prudential PLC

Prudential PLC acquired a new stake in Exact Sciences Co. (NASDAQ:EXAS) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 8,594 shares of the medical research company’s stock, valued at approximately $483,000.

Several other institutional investors have also added to or reduced their stakes in the company. Asset Planning Inc bought a new position in shares of Exact Sciences in the 4th quarter valued at $40,000. Modus Advisors LLC acquired a new stake in Exact Sciences in the fourth quarter valued at about $43,000. AlphaQuest LLC grew its position in 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 acquiring an additional 913 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Exact Sciences during the fourth quarter worth about $66,000. Finally, Kieckhefer Group LLC bought a new position in shares of Exact Sciences in the fourth quarter worth about $188,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Scotiabank upped their price objective on shares of Exact Sciences from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 24th. Barclays lowered their price target on shares of Exact Sciences from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Benchmark reissued a “buy” rating and set a $65.00 price objective on shares of Exact Sciences in a report on Monday, January 13th. William Blair reaffirmed an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 20th. Finally, Royal Bank of Canada initiated coverage on Exact Sciences in a research note on Thursday, March 13th. They set a “sector perform” rating and a $52.00 price target on the stock. Two analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $70.26.

Exact Sciences Stock Performance

Shares of EXAS stock opened at $40.31 on Wednesday. The firm has a 50 day moving average of $47.80 and a 200-day moving average of $56.38. The company has a market cap of $7.49 billion, a price-to-earnings ratio of -7.24 and a beta of 1.14. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97. Exact Sciences Co. has a 52 week low of $39.97 and a 52 week high of $74.44.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.23. The firm had revenue of $713.42 million during the quarter, compared to the consensus estimate of $701.45 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. On average, equities analysts forecast that Exact Sciences Co. will post -0.58 earnings per share for the current year.

About Exact Sciences

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.