Exact Sciences (NASDAQ:EXAS) Price Target Raised to $90.00

Exact Sciences (NASDAQ:EXAS) had its price target upped by TD Cowen from $74.00 to $90.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the medical research company’s stock.

Other equities research analysts have also recently issued reports about the stock. Cowen reissued a “buy” rating on shares of Exact Sciences in a research report on Tuesday. Wall Street Zen raised Exact Sciences from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Wells Fargo & Company set a $68.00 target price on shares of Exact Sciences in a report on Wednesday, October 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Exact Sciences in a research report on Wednesday, October 8th. Finally, Piper Sandler lifted their price objective on shares of Exact Sciences from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $73.44.

Exact Sciences Stock Performance

Shares of NASDAQ:EXAS opened at $67.22 on Tuesday. The company has a current ratio of 2.89, a quick ratio of 2.56 and a debt-to-equity ratio of 0.94. Exact Sciences has a 12 month low of $38.81 and a 12 month high of $72.81. The company has a market capitalization of $12.73 billion, a price-to-earnings ratio of -12.38, a PEG ratio of 5.56 and a beta of 1.34. The firm’s 50-day moving average is $57.71 and its 200 day moving average is $53.24.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Monday, November 3rd. The medical research company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.13 by $0.11. Exact Sciences had a negative return on equity of 1.75% and a negative net margin of 34.19%.The company had revenue of $850.74 million for the quarter, compared to the consensus estimate of $810.42 million. Exact Sciences’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.21) EPS. Exact Sciences has set its FY 2025 guidance at EPS. Research analysts predict that Exact Sciences will post -0.58 EPS for the current year.

Insider Activity at Exact Sciences

In other Exact Sciences news, Director James Edward Doyle sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $60.00, for a total transaction of $120,000.00. Following the sale, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Brian Baranick sold 2,858 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $70.08, for a total transaction of $200,288.64. Following the sale, the executive vice president directly owned 22,368 shares in the company, valued at $1,567,549.44. This trade represents a 11.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 6,343 shares of company stock valued at $382,688 over the last ninety days. 1.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EXAS. Assetmark Inc. lifted its holdings in shares of Exact Sciences by 7.2% in the 3rd quarter. Assetmark Inc. now owns 3,588 shares of the medical research company’s stock valued at $196,000 after buying an additional 242 shares during the period. Illinois Municipal Retirement Fund increased its holdings in shares of Exact Sciences by 20.1% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 97,134 shares of the medical research company’s stock valued at $5,314,000 after purchasing an additional 16,264 shares in the last quarter. Skylands Capital LLC raised its position in shares of Exact Sciences by 54.1% in the third quarter. Skylands Capital LLC now owns 32,175 shares of the medical research company’s stock worth $1,760,000 after acquiring an additional 11,300 shares during the period. Krilogy Financial LLC boosted its stake in shares of Exact Sciences by 30.7% during the 3rd quarter. Krilogy Financial LLC now owns 55,845 shares of the medical research company’s stock worth $3,055,000 after acquiring an additional 13,129 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Exact Sciences during the 3rd quarter valued at about $4,139,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

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.