Benchmark Reaffirms “Buy” Rating for Exact Sciences (NASDAQ:EXAS)

Exact Sciences (NASDAQ:EXAS)‘s stock had its “buy” rating restated by investment analysts at Benchmark in a research report issued on Monday,Benzinga reports. They presently have a $65.00 price objective on the medical research company’s stock. Benchmark’s price objective suggests a potential upside of 19.93% from the company’s current price.

Other analysts have also issued reports about the company. Citigroup lowered their price objective 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. BTIG Research lifted their price objective on Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Evercore ISI lowered their price objective 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. Canaccord Genuity Group lowered their price objective on Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, TD Cowen lifted their price objective on Exact Sciences from $82.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. One analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $72.94.

Exact Sciences Stock Performance

Shares of NASDAQ:EXAS opened at $54.20 on Monday. Exact Sciences has a twelve month low of $40.62 and a twelve month high of $79.62. The firm has a market cap of $10.03 billion, a PE ratio of -46.32 and a beta of 1.24. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12. The business has a fifty day moving average of $57.57 and a 200-day moving average of $58.98.

Exact Sciences (NASDAQ:EXAS) last announced 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). The business had revenue of $708.66 million during the quarter, compared to analyst estimates of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The business’s revenue was up 12.8% compared to the same quarter last year. On average, equities research analysts predict that Exact Sciences will post -1.13 EPS for the current fiscal year.

Insider Activity

In other Exact Sciences news, CEO Kevin T. Conroy acquired 19,500 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were 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 of the company’s stock, valued at approximately $55,159,707.85. This trade represents a 1.85 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.36% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Exact Sciences

Several institutional investors have recently modified their holdings of EXAS. Groupama Asset Managment acquired a new stake in Exact Sciences in the 3rd quarter valued at approximately $821,000. Sculptor Capital LP acquired a new stake in Exact Sciences in the 2nd quarter valued at approximately $32,819,000. Samlyn Capital LLC acquired a new stake in Exact Sciences in the 2nd quarter valued at approximately $30,426,000. Armistice Capital LLC raised its position in Exact Sciences by 91.6% in the 2nd 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 last quarter. Finally, ArrowMark Colorado Holdings LLC acquired a new stake in Exact Sciences in the 3rd quarter valued at approximately $28,608,000. 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.