Exact Sciences (NASDAQ:EXAS) Trading Up 4.8% After Analyst Upgrade

Exact Sciences Co. (NASDAQ:EXAS) shares were up 4.8% on Monday after Scotiabank raised their price target on the stock from $70.00 to $73.00. Scotiabank currently has a sector outperform rating on the stock. Exact Sciences traded as high as $51.50 and last traded at $51.64. Approximately 762,199 shares changed hands during trading, a decline of 67% from the average daily volume of 2,291,274 shares. The stock had previously closed at $49.26.

Other equities research analysts have also recently issued reports about the stock. Piper Sandler decreased their price objective on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Citigroup reduced their price target on shares of Exact Sciences from $80.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Bank of America reduced their price target on shares of Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Craig Hallum reduced their price target on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, William Blair restated an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Exact Sciences has an average rating of “Moderate Buy” and a consensus price target of $72.24.

Hedge Funds Weigh In On Exact Sciences

Hedge funds have recently bought and sold shares of the company. Huntington National Bank lifted its position in Exact Sciences by 838.1% during the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 352 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of Exact Sciences in the 3rd quarter worth approximately $34,000. Capital Performance Advisors LLP bought a new stake in shares of Exact Sciences in the 3rd quarter worth approximately $35,000. Vestor Capital LLC bought a new stake in shares of Exact Sciences in the 3rd quarter worth approximately $46,000. Finally, Asset Planning Inc bought a new stake in shares of Exact Sciences in the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Stock Up 4.1 %

The stock’s fifty day moving average is $54.72 and its 200 day moving average is $60.00. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $9.53 billion, a P/E ratio of -9.21 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.23. The business had revenue of $713.42 million for the quarter, compared to the consensus estimate of $701.45 million. Exact Sciences had a negative net margin of 37.29% and a negative return on equity of 5.29%. Research analysts predict that Exact Sciences Co. will post -0.58 EPS for the current fiscal year.

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.