Vestmark Advisory Solutions Inc. Buys Shares of 8,405 Exact Sciences Co. (NASDAQ:EXAS)

Vestmark Advisory Solutions Inc. bought a new stake in Exact Sciences Co. (NASDAQ:EXAS) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 8,405 shares of the medical research company’s stock, valued at approximately $472,000.

Other large investors also recently bought and sold shares of the company. Thompson Investment Management Inc. lifted its position 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 buying an additional 36,505 shares during the last quarter. WCM Investment Management LLC lifted its position in Exact Sciences by 1,153.2% in the third quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company’s stock valued at $12,388,000 after buying an additional 172,821 shares during the last quarter. Simplify Asset Management Inc. lifted its position in Exact Sciences by 67.5% in the third quarter. Simplify Asset Management Inc. now owns 29,277 shares of the medical research company’s stock valued at $1,994,000 after buying an additional 11,800 shares during the last quarter. Zacks Investment Management acquired a new position in Exact Sciences in the third quarter valued at about $2,083,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Exact Sciences by 59.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 335,705 shares of the medical research company’s stock valued at $22,868,000 after buying an additional 125,192 shares during the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

Exact Sciences Stock Performance

Shares of EXAS opened at $47.06 on Friday. The stock has a 50 day moving average price of $52.88 and a 200 day moving average price of $59.35. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $8.74 billion, a price-to-earnings ratio of -8.45 and a beta of 1.25. Exact Sciences Co. has a 52-week low of $40.62 and a 52-week 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 analysts’ consensus estimates of ($0.29) by $0.23. The firm had revenue of $713.42 million during the quarter, compared to the consensus estimate of $701.45 million. Exact Sciences had a negative return on equity of 5.29% and a negative net margin of 37.29%. Research analysts predict that Exact Sciences Co. will post -0.58 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Barclays cut their price target on shares of Exact Sciences from $70.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. Piper Sandler cut their price target on shares of Exact Sciences from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. William Blair reiterated an “outperform” rating on shares of Exact Sciences in a research note on Thursday, February 20th. Benchmark reiterated a “buy” rating and set a $65.00 price target on shares of Exact Sciences in a research note on Monday, January 13th. Finally, BTIG Research boosted their price target on shares of Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.94.

About Exact Sciences

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.