BTIG Research Increases Exact Sciences (NASDAQ:EXAS) Price Target to $75.00

Exact Sciences (NASDAQ:EXAS) had its price objective increased by BTIG Research from $65.00 to $75.00 in a research report report published on Tuesday,Benzinga reports. BTIG Research currently has a buy rating on the medical research company’s stock.

EXAS has been the topic of several other reports. The Goldman Sachs Group decreased their price target on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock 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. Robert W. Baird decreased their target price on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Craig Hallum decreased their target price on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Citigroup decreased their target price on shares of Exact Sciences from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, Exact Sciences currently has an average rating of “Moderate Buy” and an average price target of $75.29.

Exact Sciences Trading Up 0.6 %

EXAS stock opened at $62.08 on Tuesday. The company has a market capitalization of $11.49 billion, a PE ratio of -53.06 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 50 day moving average price is $64.01 and its two-hundred day moving average price is $55.97. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The business had revenue of $708.66 million for the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. Exact Sciences’s revenue was up 12.8% compared to the same quarter last year. As a group, analysts predict that Exact Sciences will post -1.13 earnings per share for the current fiscal year.

Insider Transactions at Exact Sciences

In other Exact Sciences news, CEO Kevin T. Conroy bought 19,500 shares of Exact Sciences stock in a transaction dated Wednesday, November 13th. The shares were purchased at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the transaction, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at $55,159,707.85. This represents a 1.85 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brian Baranick sold 929 shares of the company’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 completion of the sale, the executive vice president now directly owns 12,758 shares in the company, valued at $893,060. This represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

Hedge Funds Weigh In On Exact Sciences

A number of hedge funds have recently bought and sold shares of the company. American Trust bought a new position in Exact Sciences during the 3rd quarter valued at about $229,000. Synovus Financial Corp bought a new position in Exact Sciences during the 3rd quarter valued at about $490,000. Tidal Investments LLC lifted its stake in Exact Sciences by 172.2% during the 3rd quarter. Tidal Investments LLC now owns 34,275 shares of the medical research company’s stock valued at $2,335,000 after acquiring an additional 21,683 shares during the period. Geode Capital Management LLC lifted its stake in Exact Sciences by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,105,970 shares of the medical research company’s stock valued at $211,104,000 after acquiring an additional 7,873 shares during the period. Finally, M&T Bank Corp lifted its stake in Exact Sciences by 43.5% during the 3rd quarter. M&T Bank Corp now owns 9,256 shares of the medical research company’s stock valued at $630,000 after acquiring an additional 2,806 shares during the period. 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.