Exact Sciences (NASDAQ:EXAS) Now Covered by Analysts at Barclays

Equities researchers at Barclays started coverage on shares of Exact Sciences (NASDAQ:EXAS) in a research note issued to investors on Thursday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $70.00 price target on the medical research company’s stock. Barclays‘s target price would suggest a potential upside of 27.76% from the stock’s previous close.

EXAS has been the subject of a number of other research reports. Bank of America decreased their price objective on shares of Exact Sciences from $75.00 to $72.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Piper Sandler reduced their price objective on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Sanford C. Bernstein upped their target price on Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on Exact Sciences from $84.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Raymond James reissued a “market perform” rating on shares of Exact Sciences in a report on Thursday, September 26th. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, Exact Sciences currently has an average rating of “Moderate Buy” and an average target price of $72.76.

Exact Sciences Stock Up 1.0 %

EXAS stock opened at $54.79 on Thursday. Exact Sciences has a 52 week low of $40.62 and a 52 week high of $79.62. The company has a market capitalization of $10.14 billion, a price-to-earnings ratio of -46.83 and a beta of 1.24. The firm’s 50-day moving average is $57.32 and its two-hundred day moving average is $59.35. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72.

Exact Sciences (NASDAQ:EXAS) last released its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The business had revenue of $708.66 million during the quarter, compared to the consensus estimate of $716.80 million. The company’s quarterly revenue was up 12.8% on a year-over-year basis. On average, analysts forecast that Exact Sciences will post -1.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Kevin T. Conroy acquired 19,500 shares of Exact Sciences stock in a transaction on Wednesday, November 13th. The shares were purchased at an average price of $51.35 per share, with a total value of $1,001,325.00. Following the acquisition, the chief executive officer now owns 1,074,191 shares in the company, valued at $55,159,707.85. This represents a 1.85 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.36% of the stock is owned by corporate insiders.

Institutional Trading of Exact Sciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Exact Sciences by 0.3% during the third quarter. Geode Capital Management LLC now owns 3,105,970 shares of the medical research company’s stock worth $211,104,000 after buying an additional 7,873 shares during the last quarter. Champlain Investment Partners LLC raised its holdings in shares of Exact Sciences by 10.9% in the third quarter. Champlain Investment Partners LLC now owns 2,494,480 shares of the medical research company’s stock valued at $169,924,000 after purchasing an additional 245,980 shares during the last quarter. Bellevue Group AG boosted its stake in shares of Exact Sciences by 25.1% during the 3rd quarter. Bellevue Group AG now owns 1,449,465 shares of the medical research company’s stock worth $98,738,000 after buying an additional 290,585 shares during the last quarter. Armistice Capital LLC grew its stake in Exact Sciences by 91.6% in the second quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock valued at $59,154,000 after purchasing an additional 669,438 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Exact Sciences by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,292,090 shares of the medical research company’s stock valued at $88,017,000 after acquiring an additional 45,015 shares during the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.

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.