Exact Sciences (NASDAQ:EXAS) Stock Price Expected to Rise, Sanford C. Bernstein Analyst Says

Exact Sciences (NASDAQ:EXAS) had its price target upped by equities researchers at Sanford C. Bernstein from $75.00 to $90.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the medical research company’s stock. Sanford C. Bernstein’s target price would indicate a potential upside of 30.57% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. Raymond James reissued a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. Benchmark lowered their price objective on shares of Exact Sciences from $91.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Stifel Nicolaus lowered their price objective on shares of Exact Sciences from $100.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Piper Sandler increased their price objective on shares of Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, September 12th. Finally, The Goldman Sachs Group lowered their price objective on shares of Exact Sciences from $88.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Exact Sciences has a consensus rating of “Moderate Buy” and an average price target of $80.64.

Exact Sciences Price Performance

Shares of NASDAQ EXAS opened at $68.93 on Wednesday. The firm has a market capitalization of $12.72 billion, a P/E ratio of -52.22 and a beta of 1.27. Exact Sciences has a one year low of $40.62 and a one year high of $79.62. The company’s fifty day moving average is $66.61 and its two-hundred day moving average is $56.61. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.98 and a current ratio of 2.17.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Wednesday, July 31st. The medical research company reported ($0.09) EPS for the quarter, topping 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 company had revenue of $699.26 million for the quarter, compared to analyst estimates of $690.02 million. During the same period in the previous year, the firm earned ($0.45) EPS. The business’s revenue was up 12.4% on a year-over-year basis. Analysts forecast that Exact Sciences will post -0.87 EPS for the current fiscal year.

Insider Transactions at Exact Sciences

In other news, EVP Brian Baranick sold 929 shares of the stock in a transaction dated 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 directly owns 12,758 shares in the company, valued at $893,060. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.36% of the company’s stock.

Institutional Trading of Exact Sciences

Several large investors have recently bought and sold shares of EXAS. Capital World Investors grew its position in Exact Sciences by 74.4% in the first quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock valued at $899,528,000 after acquiring an additional 5,557,168 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Exact Sciences in the second quarter valued at approximately $163,896,000. Champlain Investment Partners LLC grew its position in Exact Sciences by 175.3% in the first quarter. Champlain Investment Partners LLC now owns 2,258,235 shares of the medical research company’s stock valued at $155,954,000 after acquiring an additional 1,438,010 shares in the last quarter. Sculptor Capital LP acquired a new stake in Exact Sciences in the second quarter valued at approximately $32,819,000. Finally, Samlyn Capital LLC acquired a new stake in Exact Sciences in the second quarter valued at approximately $30,426,000. Institutional investors and hedge funds 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.