Evercore ISI Raises Exact Sciences (NASDAQ:EXAS) Price Target to $80.00

Exact Sciences (NASDAQ:EXAS) had its price objective lifted by Evercore ISI from $72.00 to $80.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an outperform rating on the medical research company’s stock.

EXAS has been the subject of a number of other research reports. Benchmark cut their price target on Exact Sciences from $91.00 to $67.00 and set a buy rating for the company in a research note on Thursday, August 1st. Wells Fargo & Company began coverage on Exact Sciences in a research report on Tuesday, August 27th. They set an overweight rating and a $75.00 target price on the stock. Raymond James reissued a market perform rating on shares of Exact Sciences in a research report on Thursday, September 26th. Scotiabank started coverage on shares of Exact Sciences in a report on Thursday, June 27th. They set a sector outperform rating and a $70.00 price objective on the stock. Finally, Piper Sandler upped their target price on shares of Exact Sciences from $75.00 to $85.00 and gave the stock an overweight rating in a research note on Thursday, September 12th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $78.38.

Exact Sciences Trading Down 0.7 %

NASDAQ EXAS opened at $66.41 on Tuesday. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73. Exact Sciences has a 52 week low of $40.62 and a 52 week high of $79.62. The business has a 50 day moving average price of $60.47 and a 200-day moving average price of $56.30. The company has a market cap of $12.25 billion, a price-to-earnings ratio of -50.31 and a beta of 1.26.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Wednesday, July 31st. The medical research company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $699.26 million during the quarter, compared to analyst estimates of $690.02 million. During the same quarter in the previous year, the business posted ($0.45) EPS. Exact Sciences’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, equities analysts expect that Exact Sciences will post -0.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the sale, the executive vice president now directly owns 13,687 shares of the company’s stock, valued at $958,090. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.36% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Exact Sciences

Hedge funds and other institutional investors have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Exact Sciences by 65.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock worth $31,000 after acquiring an additional 179 shares during the period. Able Wealth Management LLC bought a new position in Exact Sciences in the 4th quarter worth about $45,000. Itau Unibanco Holding S.A. purchased a new position in Exact Sciences during the 2nd quarter valued at about $29,000. EverSource Wealth Advisors LLC increased its position in shares of Exact Sciences by 92.4% during the first quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock valued at $49,000 after buying an additional 340 shares during the period. Finally, Fortitude Family Office LLC purchased a new stake in shares of Exact Sciences in the first quarter worth about $55,000. Institutional investors own 88.82% of the company’s stock.

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.