Exact Sciences (NASDAQ:EXAS) Now Covered by Analysts at Royal Bank of Canada

Analysts at Royal Bank of Canada assumed coverage on shares of Exact Sciences (NASDAQ:EXAS) in a note issued to investors on Thursday,Briefing.com Automated Import reports. The brokerage set a “sector perform” rating and a $52.00 price target on the medical research company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 12.19% from the company’s current price.

A number of other brokerages have also recently issued reports on EXAS. Bank of America cut their target price on Exact Sciences from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. TD Cowen raised their price objective on shares of Exact Sciences from $82.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Scotiabank boosted their target price on shares of Exact Sciences from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 24th. BTIG Research lifted their price target on Exact Sciences from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, William Blair reissued an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Exact Sciences presently has an average rating of “Moderate Buy” and a consensus target price of $70.83.

Exact Sciences Stock Performance

NASDAQ:EXAS opened at $46.35 on Thursday. The firm has a market capitalization of $8.61 billion, a P/E ratio of -8.32 and a beta of 1.25. Exact Sciences has a twelve month low of $40.62 and a twelve month high of $79.62. The company has a fifty day moving average of $52.26 and a 200-day moving average of $59.06. The company has a quick ratio of 1.93, a current ratio of 2.15 and a debt-to-equity ratio of 0.97.

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

Institutional Trading of Exact Sciences

A number of large investors have recently bought and sold shares of EXAS. Huntington National Bank grew its stake in shares of Exact Sciences by 838.1% during the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after acquiring an additional 352 shares during the period. RPg Family Wealth Advisory LLC bought a new position in Exact Sciences during the third quarter worth about $34,000. Asset Planning Inc purchased a new position in shares of Exact Sciences in the fourth quarter worth about $40,000. Modus Advisors LLC purchased a new position in shares of Exact Sciences in the fourth quarter worth about $43,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Exact Sciences in the fourth quarter valued at approximately $45,000. 88.82% of the stock is owned by hedge funds and other 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.