William Blair Reaffirms Outperform Rating for Exact Sciences (NASDAQ:EXAS)

Exact Sciences (NASDAQ:EXAS)‘s stock had its “outperform” rating reiterated by investment analysts at William Blair in a report released on Thursday,RTT News reports.

A number of other equities research analysts also recently issued reports on the company. Robert W. Baird reduced their price target on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Benchmark reaffirmed a “buy” rating and set a $65.00 target price on shares of Exact Sciences in a research report on Monday, January 13th. Piper Sandler lowered their price objective on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Jefferies Financial Group raised their target price on Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Bank of America reduced their target price on Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday. 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, Exact Sciences has a consensus rating of “Moderate Buy” and an average target price of $72.06.

Exact Sciences Trading Down 3.4 %

Exact Sciences stock traded down $1.70 during mid-day trading on Thursday, hitting $48.78. 2,490,161 shares of the company’s stock were exchanged, compared to its average volume of 2,215,221. The company’s 50 day simple moving average is $55.41 and its 200-day simple moving average is $60.10. Exact Sciences has a fifty-two week low of $40.62 and a fifty-two week high of $79.62. The firm has a market capitalization of $9.03 billion, a P/E ratio of -41.71 and a beta of 1.24. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly 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. The firm had revenue of $713.42 million for the quarter, compared to the consensus estimate of $701.45 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. On average, equities analysts anticipate that Exact Sciences will post -1.1 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank grew its position in Exact Sciences by 838.1% in the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after acquiring an additional 352 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in Exact Sciences during the third quarter valued at about $34,000. Capital Performance Advisors LLP purchased a new stake in Exact Sciences during the third quarter valued at about $35,000. Vestor Capital LLC purchased a new stake in Exact Sciences during the third quarter valued at about $46,000. Finally, Asset Planning Inc purchased a new stake in Exact Sciences during the fourth quarter valued at about $40,000. 88.82% of the stock is currently owned by hedge funds and other 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.