Exact Sciences (NASDAQ:EXAS) Given New $90.00 Price Target at Sanford C. Bernstein

Exact Sciences (NASDAQ:EXAS) had its target price boosted by Sanford C. Bernstein from $75.00 to $90.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Sanford C. Bernstein currently has an outperform rating on the medical research company’s stock.

Several other research firms have also recently commented on EXAS. Piper Sandler raised their target price on shares of Exact Sciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, September 12th. Wells Fargo & Company assumed coverage on shares of Exact Sciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price target for the company. Raymond James reissued a “market perform” rating on shares of Exact Sciences in a research report on Thursday, September 26th. Canaccord Genuity Group lifted their price target on shares of Exact Sciences from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Stifel Nicolaus lowered their price target on shares of Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $80.64.

Exact Sciences Trading Up 1.2 %

NASDAQ:EXAS opened at $70.46 on Wednesday. The company has a 50-day moving average price of $66.41 and a 200-day moving average price of $56.52. 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 stock has a market cap of $13.00 billion, a price-to-earnings ratio of -53.38 and a beta of 1.27.

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

Insider Transactions at Exact Sciences

In other news, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction that occurred on Tuesday, October 8th. The shares were 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 12,758 shares in the company, valued at $893,060. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company 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 EXAS. Capital World Investors grew its stake in shares of Exact Sciences by 74.4% in the first quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock worth $899,528,000 after acquiring an additional 5,557,168 shares during the period. William Blair Investment Management LLC bought a new stake in Exact Sciences during the second quarter valued at approximately $163,896,000. Champlain Investment Partners LLC grew its position in Exact Sciences by 175.3% during the first quarter. Champlain Investment Partners LLC now owns 2,258,235 shares of the medical research company’s stock valued at $155,954,000 after buying an additional 1,438,010 shares during the period. Sculptor Capital LP bought a new stake in Exact Sciences during the second quarter valued at approximately $32,819,000. Finally, Samlyn Capital LLC bought a new stake in Exact Sciences during the second quarter valued at approximately $30,426,000. 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.