Exact Sciences (NASDAQ:EXAS) Shares Up 5.7% – Still a Buy?

Exact Sciences Co. (NASDAQ:EXAS) was up 5.7% on Monday . The company traded as high as $44.17 and last traded at $43.94. Approximately 1,282,280 shares traded hands during trading, a decline of 51% from the average daily volume of 2,600,964 shares. The stock had previously closed at $41.58.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Mizuho started coverage on shares of Exact Sciences in a research report on Thursday, April 10th. They set an “outperform” rating and a $60.00 price target on the stock. Barclays cut their target price on Exact Sciences from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. William Blair reiterated an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 20th. Piper Sandler dropped their price target on Exact Sciences from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, Scotiabank raised their price objective on shares of Exact Sciences from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 24th. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.25.

Exact Sciences Stock Up 3.7 %

The firm has a market capitalization of $8.01 billion, a PE ratio of -7.74 and a beta of 1.14. The stock has a 50-day simple moving average of $45.87 and a 200-day simple moving average of $54.87. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Thompson Investment Management Inc. lifted its position in shares of Exact Sciences by 17.8% during the fourth quarter. Thompson Investment Management Inc. now owns 241,774 shares of the medical research company’s stock worth $13,585,000 after acquiring an additional 36,505 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in Exact Sciences by 35.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 95,827 shares of the medical research company’s stock worth $5,385,000 after purchasing an additional 24,992 shares during the period. Jones Financial Companies Lllp grew its holdings in Exact Sciences by 32.2% during the 4th quarter. Jones Financial Companies Lllp now owns 9,508 shares of the medical research company’s stock valued at $534,000 after buying an additional 2,315 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Exact Sciences during the fourth quarter valued at about $478,000. Finally, Sanctuary Advisors LLC lifted its holdings in shares of Exact Sciences by 2.0% in the fourth quarter. Sanctuary Advisors LLC now owns 13,625 shares of the medical research company’s stock worth $763,000 after buying an additional 269 shares in the last quarter. 88.82% of the stock is owned by 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.