Exact Sciences (NASDAQ:EXAS) Price Target Raised to $85.00 at Jefferies Financial Group

Exact Sciences (NASDAQ:EXAS) had its price target increased by Jefferies Financial Group from $84.00 to $85.00 in a research report report published on Wednesday, Benzinga reports. Jefferies Financial Group currently has a buy rating on the medical research company’s stock.

Other analysts have also issued research reports about the stock. Stifel Nicolaus cut their price objective on shares of Exact Sciences from $82.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday. TD Cowen cut their price target on Exact Sciences from $90.00 to $82.00 and set a “buy” rating on the stock in a research report on Wednesday. Wells Fargo & Company started coverage on Exact Sciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 price objective for the company. Piper Sandler upped their target price on Exact Sciences from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, September 12th. Finally, Craig Hallum reduced their price target on Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $75.06.

Exact Sciences Price Performance

Exact Sciences stock opened at $54.72 on Wednesday. Exact Sciences has a fifty-two week low of $40.62 and a fifty-two week high of $79.62. The company has a market cap of $10.11 billion, a PE ratio of -57.00 and a beta of 1.27. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.98 and a current ratio of 2.17. The business’s 50-day simple moving average is $67.14 and its two-hundred day simple moving average is $56.65.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The firm had revenue of $708.66 million during the quarter, compared to analysts’ expectations of $716.80 million. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. Equities analysts anticipate that Exact Sciences will post -0.87 EPS 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 dated 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 owns 12,758 shares of the company’s stock, valued at approximately $893,060. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.36% of the company’s stock.

Hedge Funds Weigh In On Exact Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Private Advisor Group LLC raised its holdings in shares of Exact Sciences by 12.5% during the 1st quarter. Private Advisor Group LLC now owns 26,974 shares of the medical research company’s stock worth $1,863,000 after acquiring an additional 2,999 shares during the period. Daiwa Securities Group Inc. increased its position 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 during the last quarter. Motive Wealth Advisors acquired a new stake in Exact Sciences during the first quarter worth about $201,000. Oppenheimer & Co. Inc. raised its stake in Exact Sciences by 1.8% during the first quarter. Oppenheimer & Co. Inc. now owns 23,088 shares of the medical research company’s stock worth $1,594,000 after purchasing an additional 401 shares during the period. Finally, ClariVest Asset Management LLC boosted its holdings in Exact Sciences by 32.4% in the 1st quarter. ClariVest Asset Management LLC now owns 25,313 shares of the medical research company’s stock valued at $1,748,000 after purchasing an additional 6,192 shares during the last quarter. Institutional investors and hedge funds 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.