Exact Sciences’ (EXAS) Outperform Rating Reiterated at William Blair

Exact Sciences (NASDAQ:EXAS)‘s stock had its “outperform” rating reaffirmed by analysts at William Blair in a research note issued to investors on Thursday,RTT News reports.

Other research analysts also recently issued research reports about the company. BTIG Research reduced their target price on Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Evercore ISI dropped their target price on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Benchmark decreased their price target on shares of Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. The Goldman Sachs Group dropped their price objective 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. Finally, Robert W. Baird reduced their price objective 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. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, Exact Sciences has an average rating of “Moderate Buy” and an average price target of $74.47.

Exact Sciences Trading Down 0.8 %

Shares of EXAS opened at $52.29 on Thursday. 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 has a one year low of $40.62 and a one year high of $79.62. The stock has a 50-day moving average price of $65.32 and a 200 day moving average price of $55.99. The company has a market capitalization of $9.68 billion, a P/E ratio of -44.69 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The company had revenue of $708.66 million during the quarter, compared to the consensus estimate of $716.80 million. The business’s revenue was up 12.8% compared to the same quarter last year. Sell-side analysts forecast that Exact Sciences will post -1.08 EPS for the current fiscal year.

Insider Transactions at Exact Sciences

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the sale, the executive vice president now directly owns 12,758 shares in the company, valued at approximately $893,060. The trade was a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin T. Conroy bought 19,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was acquired at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. This represents a 1.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.36% of the company’s stock.

Institutional Trading of Exact Sciences

A number of hedge funds have recently made changes to their positions in EXAS. Huntington National Bank lifted its position in Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after buying an additional 352 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in Exact Sciences during the third quarter valued at $34,000. Capital Performance Advisors LLP purchased a new position in Exact Sciences in the third quarter valued at about $35,000. Vestor Capital LLC purchased a new position in Exact Sciences in the third quarter valued at about $46,000. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Exact Sciences during the 3rd quarter worth about $47,000. 88.82% of the stock is owned by hedge funds and other institutional investors.

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.