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

Exact Sciences Co. (NASDAQ:EXAS) shot up 4.8% during trading 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. 762,199 shares changed hands during trading, a decline of 67% from the average session volume of 2,291,274 shares. The stock had previously closed at $49.26.

EXAS has been the subject of a number of other reports. The Goldman Sachs Group lowered their price objective on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Jefferies Financial Group upped their price target on shares of Exact Sciences from $84.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Citigroup cut their price objective on Exact Sciences from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Robert W. Baird lowered their target price on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Finally, Evercore ISI dropped 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. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Exact Sciences currently has an average rating of “Moderate Buy” and a consensus target price of $72.24.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Huntington National Bank boosted its stake in shares of Exact Sciences by 838.1% in the 3rd 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 position in Exact Sciences during the third quarter worth $34,000. Capital Performance Advisors LLP acquired a new position in Exact Sciences in the third quarter valued at $35,000. Asset Planning Inc bought a new stake in Exact Sciences during the fourth quarter valued at $40,000. Finally, Modus Advisors LLC acquired a new stake in Exact Sciences during the 4th quarter worth about $43,000. Institutional investors own 88.82% of the company’s stock.

Exact Sciences Stock Performance

The stock has a market capitalization of $9.62 billion, a P/E ratio of -9.29 and a beta of 1.24. 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 50-day moving average price of $54.91 and a two-hundred day moving average price of $60.04.

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