Scotiabank Issues Positive Forecast for Exact Sciences (NASDAQ:EXAS) Stock Price

Exact Sciences (NASDAQ:EXAS) had its price objective raised by Scotiabank from $70.00 to $73.00 in a report issued on Monday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the medical research company’s stock.

Several other equities analysts also recently weighed in on the company. Robert W. Baird dropped their price target on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Barclays decreased their price objective on Exact Sciences from $70.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. The Goldman Sachs Group cut their target price on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Piper Sandler decreased their price target on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Finally, Canaccord Genuity Group lowered their price target on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, Exact Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $72.24.

Exact Sciences Price Performance

EXAS stock opened at $51.28 on Monday. The firm has a 50 day moving average of $54.72 and a 200-day moving average of $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 cap of $9.53 billion, a price-to-earnings ratio of -9.21 and a beta of 1.24. Exact Sciences has a 12-month low of $40.62 and a 12-month high of $79.62.

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

Institutional Trading of Exact Sciences

Several institutional investors have recently made changes to their positions in EXAS. Thompson Investment Management Inc. boosted its holdings in Exact Sciences by 17.8% in the fourth quarter. Thompson Investment Management Inc. now owns 241,774 shares of the medical research company’s stock valued at $13,585,000 after acquiring an additional 36,505 shares during the last quarter. WCM Investment Management LLC raised its holdings in shares of Exact Sciences by 1,153.2% in the 3rd quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company’s stock worth $12,388,000 after purchasing an additional 172,821 shares during the period. Simplify Asset Management Inc. lifted its stake in shares of Exact Sciences by 67.5% in the 3rd quarter. Simplify Asset Management Inc. now owns 29,277 shares of the medical research company’s stock valued at $1,994,000 after purchasing an additional 11,800 shares in the last quarter. Zacks Investment Management purchased a new stake in shares of Exact Sciences during the 3rd quarter worth about $2,083,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Exact Sciences by 59.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 335,705 shares of the medical research company’s stock worth $22,868,000 after purchasing an additional 125,192 shares in the last quarter. 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.