Exact Sciences (NASDAQ:EXAS) Sees Large Volume Increase

Shares of Exact Sciences Co. (NASDAQ:EXAS) saw unusually-strong trading volume on Monday . Approximately 1,946,966 shares were traded during mid-day 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.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on EXAS shares. Piper Sandler boosted 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. Canaccord Genuity Group restated a “buy” rating and set a $75.00 price objective on shares of Exact Sciences in a report on Friday, September 13th. Scotiabank assumed coverage on shares of Exact Sciences in a research note on Thursday, June 27th. They issued a “sector outperform” rating and a $70.00 target price for the company. Wells Fargo & Company initiated coverage on Exact Sciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price target on the stock. Finally, The Goldman Sachs Group reduced their price objective on Exact Sciences from $88.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $78.14.

Exact Sciences Stock Performance

The stock has a fifty day simple moving average of $55.85 and a 200-day simple moving average of $55.58. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $12.77 billion, a P/E ratio of -52.63 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) earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $690.02 million. During the same period last year, the firm posted ($0.45) EPS. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. Equities analysts forecast that Exact Sciences Co. will post -0.87 EPS for the current year.

Institutional Investors Weigh In On Exact Sciences

A number of hedge funds and other institutional investors have recently bought and sold shares of EXAS. Asahi Life Asset Management CO. LTD. grew its holdings in shares of Exact Sciences by 4.2% during the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 4,390 shares of the medical research company’s stock worth $325,000 after purchasing an additional 175 shares during the last quarter. Perigon Wealth Management LLC grew its holdings in Exact Sciences by 2.1% during the 1st quarter. Perigon Wealth Management LLC now owns 8,516 shares of the medical research company’s stock worth $588,000 after acquiring an additional 175 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Exact Sciences by 65.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 179 shares in the last quarter. Sanders Morris Harris LLC raised its stake in shares of Exact Sciences by 4.2% in the first quarter. Sanders Morris Harris LLC now owns 5,000 shares of the medical research company’s stock worth $345,000 after acquiring an additional 200 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Exact Sciences by 1.7% during the first quarter. Daiwa Securities Group Inc. now owns 11,947 shares of the medical research company’s stock worth $825,000 after purchasing an additional 200 shares in the last quarter. 88.82% of the stock is 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.