Barclays Begins Coverage on Exact Sciences (NASDAQ:EXAS)

Barclays assumed coverage on shares of Exact Sciences (NASDAQ:EXAS) in a research report released on Thursday morning, MarketBeat.com reports. The firm issued an overweight rating and a $70.00 price objective on the medical research company’s stock.

EXAS has been the subject of several other reports. Jefferies Financial Group boosted their price objective on shares of Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Sanford C. Bernstein upped their price target on Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Craig Hallum reduced their price objective on Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. The Goldman Sachs Group dropped their target price on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, Piper Sandler reduced their price target on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.76.

Exact Sciences Stock Performance

NASDAQ EXAS opened at $55.13 on Thursday. The business’s 50-day moving average price is $57.41 and its 200 day moving average price is $59.32. The company has a current ratio of 2.12, a quick ratio of 1.93 and a debt-to-equity ratio of 0.72. Exact Sciences has a twelve month low of $40.62 and a twelve month high of $79.62. The company has a market capitalization of $10.20 billion, a PE ratio of -47.12 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The company had revenue of $708.66 million for the quarter, compared to analysts’ expectations of $716.80 million. The company’s quarterly revenue was up 12.8% on a year-over-year basis. On average, research analysts predict that Exact Sciences will post -1.1 earnings per share for the current year.

Insider Activity

In related news, CEO Kevin T. Conroy purchased 19,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were purchased at an average cost of $51.35 per share, with a total value of $1,001,325.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at approximately $55,159,707.85. The trade was a 1.85 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.36% of the company’s stock.

Institutional Investors Weigh In On Exact Sciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Groupama Asset Managment bought a new position in shares of Exact Sciences during the third quarter worth about $821,000. Sculptor Capital LP acquired a new stake in Exact Sciences during the second quarter valued at approximately $32,819,000. Armistice Capital LLC lifted its holdings in Exact Sciences by 91.6% during the 2nd quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock worth $59,154,000 after buying an additional 669,438 shares during the last quarter. ArrowMark Colorado Holdings LLC acquired a new position in shares of Exact Sciences in the 3rd quarter worth approximately $28,608,000. Finally, Iron Triangle Partners LP bought a new stake in shares of Exact Sciences in the 3rd quarter valued at approximately $27,239,000. Institutional investors 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.