Exact Sciences Co. (NASDAQ:EXAS) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Exact Sciences Co. (NASDAQ:EXAS) have received a consensus rating of “Moderate Buy” from the twenty-one brokerages that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $70.26.

A number of research firms recently commented on EXAS. Barclays decreased their target price on shares of Exact Sciences from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Bank of America lowered their price objective on Exact Sciences from $72.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Royal Bank of Canada began coverage on Exact Sciences in a research report on Thursday, March 13th. They set a “sector perform” rating and a $52.00 target price on the stock. Scotiabank increased their price target on Exact Sciences from $70.00 to $73.00 and gave the company a “sector outperform” rating in a research note on Monday, February 24th. Finally, Piper Sandler cut their price objective on shares of Exact Sciences from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th.

Exact Sciences Trading Down 3.0 %

Shares of NASDAQ:EXAS opened at $43.66 on Monday. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $8.11 billion, a PE ratio of -7.84 and a beta of 1.25. Exact Sciences has a 12-month low of $40.62 and a 12-month high of $79.62. The business’s fifty day simple moving average is $49.71 and its 200-day simple moving average is $57.80.

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

Hedge Funds Weigh In On Exact Sciences

Several institutional investors and hedge funds have recently modified their holdings of the stock. RPg Family Wealth Advisory LLC acquired a new stake in Exact Sciences during the third quarter worth about $34,000. Asset Planning Inc purchased a new stake in Exact Sciences in the 4th quarter worth approximately $40,000. Modus Advisors LLC acquired a new stake in shares of Exact Sciences during the 4th quarter worth approximately $43,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Exact Sciences in the fourth quarter valued at $45,000. Finally, AlphaQuest LLC raised its position in shares of Exact Sciences by 22,825.0% in the fourth quarter. AlphaQuest LLC now owns 917 shares of the medical research company’s stock worth $52,000 after acquiring an additional 913 shares during the period. Institutional investors and hedge funds own 88.82% of the company’s stock.

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.