Raymond James Reiterates Market Perform Rating for Exact Sciences (NASDAQ:EXAS)

Exact Sciences (NASDAQ:EXAS)‘s stock had its “market perform” rating reaffirmed by research analysts at Raymond James in a research report issued to clients and investors on Thursday, Benzinga reports.

EXAS has been the subject of several other research reports. The Goldman Sachs Group cut their price target on Exact Sciences from $88.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Evercore ISI cut their price target on Exact Sciences from $80.00 to $72.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Benchmark cut their price target on Exact Sciences from $91.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Stifel Nicolaus cut their price objective on Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Finally, Scotiabank assumed coverage on Exact Sciences in a research note on Thursday, June 27th. They set a “sector outperform” rating and a $70.00 price objective for the company. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $78.14.

Exact Sciences Stock Performance

NASDAQ EXAS opened at $65.96 on Thursday. The stock has a 50-day simple moving average of $59.32 and a two-hundred day simple moving average of $56.16. The firm has a market capitalization of $12.17 billion, a P/E ratio of -49.97 and a beta of 1.26. Exact Sciences has a fifty-two week low of $40.62 and a fifty-two week high of $79.62. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.98 and a current ratio of 2.17.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.28. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The firm had revenue of $699.26 million during the quarter, compared to analyst estimates of $690.02 million. During the same quarter in the previous year, the business earned ($0.45) EPS. Exact Sciences’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, equities analysts forecast that Exact Sciences will post -0.87 earnings per share for the current year.

Insider Transactions at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the transaction, the executive vice president now directly owns 13,687 shares in the company, valued at $958,090. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.36% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Asahi Life Asset Management CO. LTD. lifted its holdings in Exact Sciences by 4.2% in the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 4,390 shares of the medical research company’s stock valued at $325,000 after acquiring an additional 175 shares during the last quarter. Perigon Wealth Management LLC lifted its stake in Exact Sciences by 2.1% during the first quarter. Perigon Wealth Management LLC now owns 8,516 shares of the medical research company’s stock worth $588,000 after purchasing an additional 175 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Exact Sciences by 65.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 452 shares of the medical research company’s stock worth $31,000 after purchasing an additional 179 shares in the last quarter. Sanders Morris Harris LLC lifted its stake in Exact Sciences by 4.2% during the first quarter. Sanders Morris Harris LLC now owns 5,000 shares of the medical research company’s stock worth $345,000 after purchasing an additional 200 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in Exact Sciences by 1.7% during the first quarter. Daiwa Securities Group Inc. now owns 11,947 shares of the medical research company’s stock worth $825,000 after purchasing an additional 200 shares in the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.

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.