Exact Sciences (NASDAQ:EXAS) Given “Buy” Rating at Guggenheim

Guggenheim reiterated their buy rating on shares of Exact Sciences (NASDAQ:EXAS) in a research report sent to investors on Friday,Benzinga reports. Guggenheim currently has a $60.00 price target on the medical research company’s stock.

Several other analysts also recently weighed in on the company. William Blair reiterated an “outperform” rating on shares of Exact Sciences in a research note on Thursday, February 20th. Scotiabank raised their target price on shares of Exact Sciences from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a report on Monday, February 24th. Piper Sandler lowered their price target on shares of Exact Sciences from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Bank of America reduced their price objective on Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Finally, Barclays lowered their target price on Exact Sciences from $65.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.25.

Exact Sciences Stock Performance

Shares of EXAS opened at $44.45 on Friday. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. The firm has a market cap of $8.26 billion, a PE ratio of -7.98 and a beta of 1.14. Exact Sciences has a 12 month low of $39.97 and a 12 month high of $73.10. The stock has a fifty day moving average price of $46.95 and a 200-day moving average price of $55.80.

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

Institutional Investors Weigh In On Exact Sciences

Several institutional investors have recently bought and sold shares of the company. Perigon Wealth Management LLC lifted its position in shares of Exact Sciences by 3.2% in the fourth quarter. Perigon Wealth Management LLC now owns 8,436 shares of the medical research company’s stock valued at $474,000 after acquiring an additional 264 shares in the last quarter. Sanctuary Advisors LLC raised its stake in Exact Sciences by 2.0% in the 4th quarter. Sanctuary Advisors LLC now owns 13,625 shares of the medical research company’s stock valued at $763,000 after purchasing an additional 269 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in Exact Sciences by 2.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 14,447 shares of the medical research company’s stock valued at $812,000 after purchasing an additional 300 shares in the last quarter. Curi RMB Capital LLC lifted its holdings in Exact Sciences by 1.7% in the 4th quarter. Curi RMB Capital LLC now owns 24,896 shares of the medical research company’s stock valued at $1,399,000 after purchasing an additional 428 shares in the last quarter. Finally, Patten & Patten Inc. TN boosted its stake in Exact Sciences by 1.8% during the 4th quarter. Patten & Patten Inc. TN now owns 26,153 shares of the medical research company’s stock worth $1,470,000 after purchasing an additional 460 shares during the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.

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.