BTIG Research Forecasts Strong Price Appreciation for Exact Sciences (NASDAQ:EXAS) Stock

Exact Sciences (NASDAQ:EXAS) had its price objective lifted by research analysts at BTIG Research from $65.00 to $75.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. BTIG Research’s price objective points to a potential upside of 21.58% from the stock’s previous close.

EXAS has been the subject of several other reports. William Blair reaffirmed an “outperform” rating on shares of Exact Sciences in a research report on Thursday, November 21st. Wells Fargo & Company started coverage on Exact Sciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 target price for the company. Evercore ISI decreased their target price on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Citigroup decreased their target price on Exact Sciences from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, Raymond James reaffirmed 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 given a buy rating to the stock. Based on data from MarketBeat.com, Exact Sciences presently has a consensus rating of “Moderate Buy” and an average target price of $75.29.

Exact Sciences Trading Up 2.6 %

NASDAQ EXAS opened at $61.69 on Tuesday. The firm has a market capitalization of $11.42 billion, a P/E ratio of -51.73 and a beta of 1.27. The business has a fifty day simple moving average of $64.35 and a 200 day simple moving average of $55.89. Exact Sciences has a 12 month low of $40.62 and a 12 month 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 released its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The company had revenue of $708.66 million during the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. Exact Sciences’s quarterly revenue was up 12.8% on a year-over-year basis. On average, analysts predict that Exact Sciences will post -1.13 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Brian Baranick sold 929 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was 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 of the company’s stock, valued at approximately $893,060. This trade represents a 6.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Kevin T. Conroy acquired 19,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were purchased at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the acquisition, the chief executive officer now owns 1,074,191 shares in the company, valued at $55,159,707.85. This represents a 1.85 % increase in their position. The disclosure for this purchase can be found here. 1.36% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Exact Sciences

A number of large investors have recently modified their holdings of EXAS. Huntington National Bank raised its holdings in shares of Exact Sciences by 838.1% during the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after buying an additional 352 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Exact Sciences during the 2nd quarter valued at about $29,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Exact Sciences during the 3rd quarter valued at about $34,000. Capital Performance Advisors LLP purchased a new position in shares of Exact Sciences during the 3rd quarter valued at about $35,000. Finally, Vestor Capital LLC purchased a new position in Exact Sciences in the 3rd quarter worth approximately $46,000. 88.82% of the stock is owned by hedge funds and other institutional investors.

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.