Exact Sciences (NASDAQ:EXAS) Price Target Raised to $86.00 at TD Cowen

Exact Sciences (NASDAQ:EXAS) had its target price boosted by TD Cowen from $82.00 to $86.00 in a research note issued to investors on Tuesday,Benzinga reports. TD Cowen currently has a buy rating on the medical research company’s stock.

Several other equities research analysts also recently issued reports on the company. Canaccord Genuity Group reduced their price objective on Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Robert W. Baird reduced their price target on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Stifel Nicolaus decreased their price target on shares of Exact Sciences from $82.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. William Blair reiterated an “outperform” rating on shares of Exact Sciences in a research note on Thursday, November 21st. Finally, Raymond James reiterated a “market perform” rating on shares of Exact Sciences in a research report on Thursday, September 26th. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Exact Sciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.29.

Exact Sciences Price Performance

Shares of NASDAQ EXAS opened at $60.10 on Tuesday. The stock has a market cap of $11.12 billion, a P/E ratio of -51.37 and a beta of 1.27. The firm’s 50-day simple moving average is $64.51 and its 200 day simple moving average is $55.85. Exact Sciences has a fifty-two week low of $40.62 and a fifty-two week high of $79.62. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The business had revenue of $708.66 million for the quarter, compared to the consensus estimate of $716.80 million. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. Equities analysts expect that Exact Sciences will post -1.13 EPS for the current year.

Insider Buying and Selling at Exact Sciences

In other news, CEO Kevin T. Conroy purchased 19,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were acquired at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the transaction, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at approximately $55,159,707.85. The trade was a 1.85 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the transaction, the executive vice president now owns 12,758 shares of the company’s stock, valued at approximately $893,060. This represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

Hedge Funds Weigh In On Exact Sciences

Several institutional investors have recently modified their holdings of the business. Huntington National Bank lifted its position in Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 352 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Exact Sciences in the 2nd quarter valued at about $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Exact Sciences in the third quarter valued at about $34,000. Capital Performance Advisors LLP acquired a new position in shares of Exact Sciences during the third quarter worth about $35,000. Finally, Vestor Capital LLC bought a new position in shares of Exact Sciences during the third quarter worth about $46,000. Institutional investors own 88.82% of the company’s stock.

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.