Exact Sciences’ (EXAS) Market Perform Rating Reiterated at Raymond James

Raymond James reissued their market perform rating on shares of Exact Sciences (NASDAQ:EXAS) in a report issued on Thursday, Benzinga reports.

Several other brokerages have also commented on EXAS. Wells Fargo & Company assumed coverage on Exact Sciences in a research report on Tuesday, August 27th. They set an overweight rating and a $75.00 price objective for the company. Canaccord Genuity Group reissued a buy rating and set a $75.00 price objective on shares of Exact Sciences in a research note on Friday, September 13th. Scotiabank initiated coverage on shares of Exact Sciences in a research note on Thursday, June 27th. They set a sector outperform rating and a $70.00 target price for the company. Evercore ISI dropped their price target on Exact Sciences from $80.00 to $72.00 and set an outperform rating on the stock in a research report on Tuesday, July 2nd. Finally, Benchmark reduced their price objective 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. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $77.77.

Exact Sciences Trading Down 2.9 %

NASDAQ:EXAS opened at $65.96 on Thursday. Exact Sciences has a 12 month low of $40.62 and a 12 month high of $79.62. 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 company has a 50-day moving average price of $59.32 and a 200-day moving average price of $56.12. The stock has a market cap of $12.17 billion, a price-to-earnings ratio of -49.97 and a beta of 1.26.

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

Insider Activity

In related news, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the completion of the sale, the executive vice president now directly owns 13,687 shares in the company, valued at approximately $958,090. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.36% of the company’s stock.

Institutional Trading of Exact Sciences

A number of large investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC grew its position in Exact Sciences by 5.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 14,901 shares of the medical research company’s stock worth $1,102,000 after purchasing an additional 759 shares during the period. Corient Private Wealth LLC increased its position in Exact Sciences by 42.0% during the fourth quarter. Corient Private Wealth LLC now owns 28,836 shares of the medical research company’s stock valued at $2,133,000 after acquiring an additional 8,530 shares during the last quarter. Quest Partners LLC bought a new position in Exact Sciences in the fourth quarter valued at about $66,000. Assetmark Inc. lifted its holdings in Exact Sciences by 39.0% in the fourth quarter. Assetmark Inc. now owns 3,035 shares of the medical research company’s stock valued at $225,000 after acquiring an additional 851 shares during the period. Finally, Franklin Resources Inc. boosted its position in Exact Sciences by 2.8% in the fourth quarter. Franklin Resources Inc. now owns 31,496 shares of the medical research company’s stock worth $2,330,000 after purchasing an additional 872 shares during the last quarter. 88.82% of the stock is currently owned by institutional investors.

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.