Exact Sciences (NASDAQ:EXAS) Research Coverage Started at Barclays

Barclays began coverage on shares of Exact Sciences (NASDAQ:EXAS) in a research report released on Thursday morning, Marketbeat Ratings reports. The firm issued an overweight rating and a $70.00 price target on the medical research company’s stock.

A number of other research analysts have also issued reports on the stock. Craig Hallum decreased their target price on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Piper Sandler lowered their price objective on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Benchmark reiterated a “buy” rating and set a $65.00 target price on shares of Exact Sciences in a research report on Monday, January 13th. Raymond James reissued a “market perform” rating on shares of Exact Sciences in a report on Thursday, September 26th. Finally, Jefferies Financial Group upped their price objective on shares of Exact Sciences from $84.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $72.76.

Exact Sciences Stock Performance

NASDAQ:EXAS opened at $55.98 on Thursday. The stock has a 50 day simple moving average of $57.54 and a 200 day simple moving average of $59.51. The stock has a market cap of $10.36 billion, a P/E ratio of -47.85 and a beta of 1.24. Exact Sciences has a 1-year low of $40.62 and a 1-year high of $79.62. 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 posted its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share 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 firm had revenue of $708.66 million for the quarter, compared to analyst estimates of $716.80 million. Exact Sciences’s quarterly revenue was up 12.8% compared to the same quarter last year. Research analysts anticipate that Exact Sciences will post -1.1 earnings per share for the current year.

Insider Activity

In other Exact Sciences news, CEO Kevin T. Conroy acquired 19,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was acquired at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the acquisition, the chief executive officer now directly 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 SEC, which is available at the SEC website. Insiders own 1.36% of the company’s stock.

Hedge Funds Weigh In On Exact Sciences

Several large investors have recently modified their holdings of EXAS. Groupama Asset Managment acquired a new stake in Exact Sciences in the third quarter valued at $821,000. Sculptor Capital LP bought a new stake in shares of Exact Sciences in the 2nd quarter valued at about $32,819,000. Armistice Capital LLC increased its stake in shares of 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 buying an additional 669,438 shares during the period. ArrowMark Colorado Holdings LLC bought a new position in shares of Exact Sciences during the third quarter worth about $28,608,000. Finally, Iron Triangle Partners LP acquired a new position in shares of Exact Sciences in the third quarter worth approximately $27,239,000. 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.