Brokerages Set Exact Sciences Corporation (NASDAQ:EXAS) Target Price at $92.13
by Mitch Edgeman · The Markets DailyExact Sciences Corporation (NASDAQ:EXAS – Get Free Report) has been given an average recommendation of “Reduce” by the twenty-two ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and twenty-one have issued a hold rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $92.1250.
EXAS has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Exact Sciences in a research note on Thursday, January 22nd. Mizuho reaffirmed a “neutral” rating and set a $105.00 price objective (up from $85.00) on shares of Exact Sciences in a research report on Tuesday, January 20th. Zacks Research downgraded shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. BTIG Research restated a “neutral” rating on shares of Exact Sciences in a report on Tuesday, March 24th. Finally, Evercore set a $105.00 price objective on shares of Exact Sciences and gave the stock an “in-line” rating in a research note on Monday, January 5th.
Check Out Our Latest Analysis on EXAS
Institutional Investors Weigh In On Exact Sciences
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP increased its stake in Exact Sciences by 1,553.1% during the 2nd quarter. Marshall Wace LLP now owns 429,719 shares of the medical research company’s stock valued at $22,835,000 after purchasing an additional 403,724 shares in the last quarter. Holocene Advisors LP increased its position in shares of Exact Sciences by 189.5% in the 2nd quarter. Holocene Advisors LP now owns 2,145,181 shares of the medical research company’s stock valued at $113,995,000 after acquiring an additional 1,404,086 shares during the period. Fisher Asset Management LLC increased its position in shares of Exact Sciences by 25.5% in the 3rd quarter. Fisher Asset Management LLC now owns 198,287 shares of the medical research company’s stock valued at $10,848,000 after acquiring an additional 40,258 shares during the period. Assenagon Asset Management S.A. purchased a new position in Exact Sciences in the 4th quarter worth $47,848,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in Exact Sciences by 643.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,286,595 shares of the medical research company’s stock worth $70,390,000 after acquiring an additional 1,113,459 shares during the period. 88.82% of the stock is currently owned by hedge funds and other institutional investors.
Exact Sciences Stock Performance
EXAS stock opened at $104.91 on Friday. Exact Sciences has a 1-year low of $38.81 and a 1-year high of $104.98. The business has a 50-day moving average price of $103.57 and a 200 day moving average price of $89.70. The company has a market capitalization of $20.03 billion, a P/E ratio of -95.37, a PEG ratio of 2.02 and a beta of 1.41. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.43 and a quick ratio of 2.17.
Exact Sciences (NASDAQ:EXAS – Get Free Report) last issued its earnings results on Friday, February 13th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.29). Exact Sciences had a positive return on equity of 0.53% and a negative net margin of 6.40%.The business had revenue of $878.38 million for the quarter, compared to the consensus estimate of $860.59 million. During the same quarter in the previous year, the company earned ($0.06) earnings per share. The firm’s revenue was up 23.1% on a year-over-year basis. As a group, equities research analysts forecast that Exact Sciences will post -0.58 EPS for the current fiscal year.
Exact Sciences Company Profile
Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.
Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.