EXACT Sciences Co. (EXAS) Receives $52.36 Consensus Price Target from Brokerages

EXACT Sciences Co. (NASDAQ:EXAS) has been given a consensus rating of “Buy” by the eighteen brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $52.36.

Several brokerages have weighed in on EXAS. Canaccord Genuity lifted their target price on EXACT Sciences from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, April 27th. BTIG Research reaffirmed a “buy” rating and set a $60.00 target price on shares of EXACT Sciences in a research note on Sunday, April 29th. ValuEngine raised EXACT Sciences from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. BidaskClub raised EXACT Sciences from a “hold” rating to a “buy” rating in a research note on Friday, April 20th. Finally, Zacks Investment Research downgraded EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Friday, April 27th.

Shares of EXACT Sciences opened at $50.96 on Monday, Marketbeat reports. The company has a debt-to-equity ratio of 0.71, a quick ratio of 14.86 and a current ratio of 15.30. EXACT Sciences has a 1-year low of $50.00 and a 1-year high of $51.15.

EXACT Sciences (NASDAQ:EXAS) last announced its earnings results on Thursday, April 26th. The medical research company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.05. The firm had revenue of $90.30 million for the quarter, compared to the consensus estimate of $86.31 million. EXACT Sciences had a negative return on equity of 20.92% and a negative net margin of 38.61%. The firm’s revenue for the quarter was up 86.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.32) EPS. equities research analysts forecast that EXACT Sciences will post -1.11 earnings per share for the current fiscal year.

In other news, insider Kevin T. Conroy sold 25,319 shares of EXACT Sciences stock in a transaction on Monday, February 26th. The stock was sold at an average price of $42.34, for a total transaction of $1,072,006.46. Following the transaction, the insider now directly owns 211,183 shares in the company, valued at approximately $8,941,488.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP D Scott Coward sold 4,420 shares of EXACT Sciences stock in a transaction on Monday, February 26th. The shares were sold at an average price of $42.34, for a total value of $187,142.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 135,748 shares of company stock worth $6,082,759. 4.00% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of EXAS. OppenheimerFunds Inc. increased its position in shares of EXACT Sciences by 99.6% during the 1st quarter. OppenheimerFunds Inc. now owns 5,831,347 shares of the medical research company’s stock valued at $235,179,000 after purchasing an additional 2,910,506 shares during the period. Artisan Partners Limited Partnership acquired a new position in shares of EXACT Sciences in the 1st quarter worth $60,243,000. Carillon Tower Advisers Inc. acquired a new position in shares of EXACT Sciences in the 4th quarter worth $66,280,000. Victory Capital Management Inc. grew its holdings in shares of EXACT Sciences by 82.9% in the 4th quarter. Victory Capital Management Inc. now owns 1,189,560 shares of the medical research company’s stock worth $62,499,000 after acquiring an additional 539,160 shares during the last quarter. Finally, Emerald Advisers Inc. PA acquired a new position in shares of EXACT Sciences in the 4th quarter worth $21,813,000. Institutional investors own 82.64% of the company’s stock.

EXACT Sciences Company Profile

Exact Sciences Corporation, a molecular diagnostics company, focuses on developing products for the early detection and prevention of various cancers in the United States. The company offers Cologuard, a non-invasive stool-based DNA screening test for the early detection of colorectal cancer and pre-cancer.

Analyst Recommendations for EXACT Sciences (NASDAQ:EXAS)

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