Exact Sciences (NASDAQ:EXAS) Price Target Raised to $80.00

Exact Sciences (NASDAQ:EXAS) had its price target hoisted by Stifel Nicolaus from $67.00 to $80.00 in a report published on Tuesday, MarketBeat reports. They currently have a buy rating on the medical research company’s stock.

Several other equities analysts also recently commented on EXAS. BTIG Research increased their price objective on shares of Exact Sciences from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday. Royal Bank Of Canada dropped their price target on Exact Sciences from $54.00 to $46.00 and set a “sector perform” rating for the company in a research note on Thursday, August 7th. Evercore ISI boosted their price objective on Exact Sciences from $64.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. Piper Sandler upped their target price on Exact Sciences from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Finally, Barclays increased their target price on Exact Sciences from $65.00 to $77.00 and gave the company an “overweight” rating in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $73.44.

Exact Sciences Stock Performance

NASDAQ:EXAS opened at $67.22 on Tuesday. Exact Sciences has a twelve month low of $38.81 and a twelve month high of $72.81. The company has a quick ratio of 2.56, a current ratio of 2.89 and a debt-to-equity ratio of 0.94. The stock’s 50-day simple moving average is $57.71 and its 200 day simple moving average is $53.24. The firm has a market capitalization of $12.73 billion, a PE ratio of -12.38, a price-to-earnings-growth ratio of 5.56 and a beta of 1.34.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Monday, November 3rd. The medical research company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.11. Exact Sciences had a negative net margin of 34.19% and a negative return on equity of 1.75%. The firm had revenue of $850.74 million during the quarter, compared to analysts’ expectations of $810.42 million. During the same quarter in the prior year, the business earned ($0.21) earnings per share. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. Exact Sciences has set its FY 2025 guidance at EPS. On average, analysts anticipate that Exact Sciences will post -0.58 EPS for the current fiscal year.

Insider Activity

In other Exact Sciences news, EVP Brian Baranick sold 2,858 shares of Exact Sciences stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $70.08, for a total transaction of $200,288.64. Following the transaction, the executive vice president directly owned 22,368 shares of the company’s stock, valued at approximately $1,567,549.44. The trade was a 11.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Edward Doyle sold 2,000 shares of the stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $60.00, for a total value of $120,000.00. Following the completion of the sale, the director directly owned 57,962 shares of the company’s stock, valued at approximately $3,477,720. The trade was a 3.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 6,343 shares of company stock worth $382,688 over the last ninety days. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EXAS. Massachusetts Financial Services Co. MA acquired a new stake in shares of Exact Sciences during the second quarter worth $157,805,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Exact Sciences by 120.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,128,958 shares of the medical research company’s stock valued at $135,453,000 after acquiring an additional 1,707,287 shares during the last quarter. Holocene Advisors LP grew its holdings in Exact Sciences by 189.5% during the 2nd quarter. Holocene Advisors LP now owns 2,145,181 shares of the medical research company’s stock worth $113,995,000 after acquiring an additional 1,404,086 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings 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. Finally, Nuveen LLC bought a new position in shares of Exact Sciences in the 1st quarter worth about $45,334,000. 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.