William Blair Reiterates “Outperform” Rating for Exact Sciences (NASDAQ:EXAS)

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

A number of other equities analysts have also issued reports on EXAS. Citigroup decreased their target price on shares of Exact Sciences from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. BTIG Research upped 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. Canaccord Genuity Group dropped their target price on Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Stifel Nicolaus decreased their price target on Exact Sciences from $82.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Finally, Sanford C. Bernstein increased their price target on Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, Exact Sciences currently has an average rating of “Moderate Buy” and a consensus target price of $72.06.

Exact Sciences Price Performance

Shares of NASDAQ:EXAS opened at $49.26 on Thursday. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72. The firm’s 50 day moving average is $54.91 and its two-hundred day moving average is $59.99. The firm has a market capitalization of $9.12 billion, a P/E ratio of -8.84 and a beta of 1.24. Exact Sciences has a 52 week low of $40.62 and a 52 week high of $79.62.

Exact Sciences (NASDAQ:EXAS) last announced its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.23. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 37.29%. The firm had revenue of $713.42 million for the quarter, compared to the consensus estimate of $701.45 million. Analysts anticipate that Exact Sciences will post -0.59 earnings per share for the current year.

Hedge Funds Weigh In On Exact Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EXAS. Chicago Partners Investment Group LLC lifted its holdings in shares of Exact Sciences by 1.7% in the third quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company’s stock valued at $651,000 after purchasing an additional 158 shares in the last quarter. Perigon Wealth Management LLC lifted its stake in Exact Sciences by 3.2% in the 4th quarter. Perigon Wealth Management LLC now owns 8,436 shares of the medical research company’s stock worth $474,000 after acquiring an additional 264 shares in the last quarter. Sanctuary Advisors LLC boosted its position in Exact Sciences by 2.0% during the 4th quarter. Sanctuary Advisors LLC now owns 13,625 shares of the medical research company’s stock worth $763,000 after acquiring an additional 269 shares during the period. Daiwa Securities Group Inc. grew its stake in Exact Sciences by 2.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 14,447 shares of the medical research company’s stock valued at $812,000 after acquiring an additional 300 shares in the last quarter. Finally, Huntington National Bank increased its holdings in shares of Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 352 shares during the period. Institutional investors and hedge funds own 88.82% of the company’s stock.

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.