Exact Sciences (NASDAQ:EXAS) Trading Up 5% – What’s Next?

Shares of Exact Sciences Co. (NASDAQ:EXAS) shot up 5% on Tuesday . The stock traded as high as $53.85 and last traded at $54.32. 128,097 shares changed hands during trading, a decline of 95% from the average session volume of 2,559,165 shares. The stock had previously closed at $51.74.

Analyst Ratings Changes

A number of research analysts recently issued reports on EXAS shares. Evercore ISI decreased their price objective on Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. 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 report on Wednesday, November 6th. Raymond James reaffirmed a “market perform” rating on shares of Exact Sciences in a research report on Thursday, September 26th. Canaccord Genuity Group lowered their price target on shares of Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, BTIG Research increased their price objective on shares of Exact Sciences from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.76.

Exact Sciences Price Performance

The company’s 50-day simple moving average is $57.32 and its 200-day simple moving average is $59.35. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.93. The stock has a market capitalization of $10.20 billion, a price-to-earnings ratio of -47.12 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last posted 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). The firm had revenue of $708.66 million for the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. Research analysts forecast that Exact Sciences Co. will post -1.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Exact Sciences

In related news, CEO Kevin T. Conroy purchased 19,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average price of $51.35 per share, for a total transaction of $1,001,325.00. Following the completion of the transaction, the chief executive officer now owns 1,074,191 shares of the company’s stock, valued at approximately $55,159,707.85. This trade represents a 1.85 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.36% of the company’s stock.

Hedge Funds Weigh In On Exact Sciences

Several hedge funds have recently bought and sold shares of the company. Chicago Partners Investment Group LLC lifted its stake in Exact Sciences by 1.7% during the third quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company’s stock worth $651,000 after purchasing an additional 158 shares during the last quarter. Perigon Wealth Management LLC lifted its position in shares of Exact Sciences by 3.2% during the 4th quarter. Perigon Wealth Management LLC now owns 8,436 shares of the medical research company’s stock worth $474,000 after buying an additional 264 shares during the last quarter. Amalgamated Bank grew its position in Exact Sciences by 2.7% in the second quarter. Amalgamated Bank now owns 10,937 shares of the medical research company’s stock valued at $462,000 after acquiring an additional 284 shares during the last quarter. Huntington National Bank raised its stake in Exact Sciences by 838.1% during the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after acquiring an additional 352 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Exact Sciences by 6.1% in the 3rd quarter. CIBC Asset Management Inc now owns 6,489 shares of the medical research company’s stock valued at $442,000 after purchasing an additional 371 shares during the last quarter. 88.82% of the stock is owned by institutional investors.

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.