Exact Sciences (NASDAQ:EXAS) PT Raised to $88.00 at Bank of America

Posted by on May 12th, 2023

Exact Sciences (NASDAQ:EXAS – Get Rating) had its target price lifted by stock analysts at Bank of America from $80.00 to $88.00 in a note issued to investors on Wednesday, The Fly reports. Bank of America‘s price objective indicates a potential upside of 12.72% from the company’s current price.

EXAS has been the subject of several other research reports. StockNews.com assumed coverage on Exact Sciences in a report on Thursday, March 16th. They set a “hold” rating for the company. BTIG Research decreased their price target on Exact Sciences from $85.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, February 22nd. Benchmark upped their price target on Exact Sciences from $54.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, March 15th. Citigroup upgraded Exact Sciences from a “neutral” rating to a “buy” rating and upped their price target for the stock from $70.00 to $90.00 in a report on Thursday, March 9th. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $70.00 price target on shares of Exact Sciences in a report on Wednesday, February 22nd. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $78.50.

Exact Sciences Price Performance

Shares of EXAS opened at $78.07 on Wednesday. Exact Sciences has a 1 year low of $29.27 and a 1 year high of $80.75. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.38 and a quick ratio of 2.09. The company has a market capitalization of $13.91 billion, a price-to-earnings ratio of -22.05 and a beta of 1.41. The business has a 50-day moving average of $66.18 and a 200-day moving average of $57.43.

Exact Sciences (NASDAQ:EXAS – Get Rating) last issued its earnings results on Tuesday, May 9th. The medical research company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.37. The business had revenue of $602.00 million during the quarter, compared to the consensus estimate of $543.18 million. Exact Sciences had a negative return on equity of 19.76% and a negative net margin of 29.92%. The firm’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same period in the previous year, the company posted ($1.04) earnings per share. As a group, equities research analysts anticipate that Exact Sciences will post -2.76 earnings per share for the current year.

Insider Transactions at Exact Sciences

In related news, EVP Sarah Condella sold 1,000 shares of the stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $63.78, for a total transaction of $63,780.00. Following the sale, the executive vice president now owns 86,401 shares of the company’s stock, valued at approximately $5,510,655.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Sarah Condella sold 1,000 shares of the stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $63.78, for a total transaction of $63,780.00. Following the sale, the executive vice president now owns 86,401 shares of the company’s stock, valued at approximately $5,510,655.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel James Herriott sold 400 shares of the stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $65.59, for a total value of $26,236.00. Following the sale, the general counsel now directly owns 9,095 shares in the company, valued at approximately $596,541.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,126 shares of company stock worth $3,986,556. 1.30% of the stock is owned by company insiders.

Institutional Trading of Exact Sciences

Institutional investors have recently added to or reduced their stakes in the stock. Park Place Capital Corp raised its holdings in shares of Exact Sciences by 189.2% in the 1st quarter. Park Place Capital Corp now owns 376 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 246 shares in the last quarter. Desjardins Global Asset Management Inc. raised its holdings in shares of Exact Sciences by 42.2% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 549 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 163 shares in the last quarter. True Wealth Design LLC purchased a new stake in shares of Exact Sciences in the 4th quarter valued at about $30,000. Signaturefd LLC raised its holdings in shares of Exact Sciences by 45.7% in the 3rd quarter. Signaturefd LLC now owns 957 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 300 shares in the last quarter. Finally, Assetmark Inc. purchased a new stake in shares of Exact Sciences in the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 90.30% of the company’s stock.

About Exact Sciences

(Get Rating)

EXACT Sciences Corp. is a cancer screening and diagnostics company. The firm focuses on the early detection and prevention of some forms of cancer. It offers a non-invasive screening test called Cologuard for the early detection of colorectal cancer and pre-cancer and Oncotype DX. The company was founded on February 10, 1995, and is headquartered in Madison, WI.

Featured Stories

The Fly logo

Analyst Recommendations for Exact Sciences (NASDAQ:EXAS)

Receive News & Ratings for Exact Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exact Sciences and related companies with MarketBeat.com's FREE daily email newsletter.