Exact Sciences (NASDAQ:EXAS) Sees Unusually-High Trading Volume

Exact Sciences Co. (NASDAQ:EXAS) shares saw strong trading volume on Monday . 1,946,966 shares changed hands during trading, a decline of 27% from the previous session’s volume of 2,650,213 shares.The stock last traded at $67.51 and had previously closed at $65.54.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Stifel Nicolaus reduced their price target on Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Benchmark reduced their price target on Exact Sciences from $91.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Evercore ISI reduced their price target on Exact Sciences from $80.00 to $72.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Jefferies Financial Group assumed coverage on Exact Sciences in a research report on Monday, June 3rd. They set a “buy” rating and a $75.00 price target for the company. Finally, The Goldman Sachs Group cut their price objective on Exact Sciences from $88.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Exact Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $78.14.

Exact Sciences Trading Up 5.0 %

The business has a 50 day moving average of $54.89 and a two-hundred day moving average of $55.44. The company has a current ratio of 2.17, a quick ratio of 1.98 and a debt-to-equity ratio of 0.73. The firm has a market cap of $12.71 billion, a P/E ratio of -52.51 and a beta of 1.26.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.28. The firm had revenue of $699.26 million for the quarter, compared to analysts’ expectations of $690.02 million. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.45) EPS. Analysts predict that Exact Sciences Co. will post -0.87 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Exact Sciences by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 17,740,092 shares of the medical research company’s stock worth $1,225,131,000 after buying an additional 180,341 shares during the period. Capital World Investors increased its position in Exact Sciences by 74.4% during the 1st quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock worth $899,528,000 after buying an additional 5,557,168 shares during the period. Artisan Partners Limited Partnership grew its holdings in shares of Exact Sciences by 12.8% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,470,278 shares of the medical research company’s stock worth $330,711,000 after purchasing an additional 508,764 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Exact Sciences during the 2nd quarter worth $163,896,000. Finally, Champlain Investment Partners LLC grew its holdings in shares of Exact Sciences by 175.3% during the 1st quarter. Champlain Investment Partners LLC now owns 2,258,235 shares of the medical research company’s stock worth $155,954,000 after purchasing an additional 1,438,010 shares in the last quarter. Institutional investors own 88.82% of the company’s stock.

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.