BTIG Research Issues Positive Forecast for Exact Sciences (NASDAQ:EXAS) Stock Price

Exact Sciences (NASDAQ:EXAS) had its target price lifted by BTIG Research from $65.00 to $75.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. BTIG Research’s target price indicates a potential upside of 26.50% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Evercore ISI lowered their target price on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. TD Cowen cut their target price on shares of Exact Sciences from $90.00 to $82.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Robert W. Baird decreased their price target on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Piper Sandler cut their price target on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Finally, Stifel Nicolaus lowered their target price on Exact Sciences from $82.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Exact Sciences currently has an average rating of “Moderate Buy” and a consensus target price of $75.06.

Exact Sciences Price Performance

Shares of EXAS stock traded up $4.15 on Tuesday, reaching $59.29. The company had a trading volume of 2,620,282 shares, compared to its average volume of 2,643,974. The business’s 50-day moving average is $64.51 and its 200 day moving average is $55.85. Exact Sciences has a one year low of $40.62 and a one year high of $79.62. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $10.97 billion, a PE ratio of -50.90 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The company had revenue of $708.66 million during the quarter, compared to analyst estimates of $716.80 million. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. Equities research analysts forecast that Exact Sciences will post -1.13 EPS for the current fiscal year.

Insider Transactions at Exact Sciences

In other news, CEO Kevin T. Conroy bought 19,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the acquisition, the chief executive officer now directly owns 1,074,191 shares in the company, valued at approximately $55,159,707.85. This trade represents a 1.85 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the completion of the sale, the executive vice president now directly owns 12,758 shares of the company’s stock, valued at approximately $893,060. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.36% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in EXAS. Huntington National Bank raised its position in 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 buying an additional 352 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Exact Sciences in the 2nd quarter worth $29,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Exact Sciences in the third quarter valued at about $34,000. Capital Performance Advisors LLP bought a new position in shares of Exact Sciences during the third quarter valued at about $35,000. Finally, Vestor Capital LLC bought a new position in shares of Exact Sciences during the third quarter valued at about $46,000. 88.82% of the stock is owned by institutional investors.

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.