Exact Sciences (NASDAQ:EXAS) Sets New 12-Month High – Time to Buy?

Exact Sciences Corporation (NASDAQ:EXAS)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $103.50 and last traded at $103.4740, with a volume of 302608 shares changing hands. The stock had previously closed at $103.32.

Wall Street Analyst Weigh In

Several research analysts recently commented on EXAS shares. Barclays reaffirmed an “equal weight” rating and issued a $105.00 price target (up previously from $77.00) on shares of Exact Sciences in a research note on Thursday, November 20th. Zacks Research lowered Exact Sciences from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Jefferies Financial Group downgraded shares of Exact Sciences from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $90.00 to $105.00 in a research report on Monday, November 24th. Evercore set a $105.00 target price on shares of Exact Sciences and gave the company an “in-line” rating in a research report on Monday, January 5th. Finally, Canaccord Genuity Group lowered shares of Exact Sciences from a “buy” rating to a “hold” rating and lifted their price target for the stock from $85.00 to $105.00 in a report on Tuesday, November 25th. Two research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $89.56.

Exact Sciences Price Performance

The stock has a fifty day moving average of $101.93 and a 200 day moving average of $74.39. The stock has a market cap of $19.74 billion, a price-to-earnings ratio of -19.45, a P/E/G ratio of 2.44 and a beta of 1.42. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.72 and a quick ratio of 2.44.

Insiders Place Their Bets

In related news, EVP Jacob A. Orville sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $75.00, for a total transaction of $375,000.00. Following the sale, the executive vice president directly owned 23,237 shares of the company’s stock, valued at $1,742,775. This trade represents a 17.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Exact Sciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in shares of Exact Sciences in the 4th quarter valued at about $26,000. Torren Management LLC acquired a new stake in Exact Sciences during the fourth quarter worth approximately $27,000. True Wealth Design LLC lifted its position in shares of Exact Sciences by 951.8% during the 2nd quarter. True Wealth Design LLC now owns 589 shares of the medical research company’s stock worth $31,000 after buying an additional 533 shares during the last quarter. Westside Investment Management Inc. lifted its position in Exact Sciences by 100.0% in the third quarter. Westside Investment Management Inc. now owns 542 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 271 shares during the last quarter. Finally, Country Trust Bank acquired a new position in Exact Sciences during the second quarter worth approximately $32,000. 88.82% of the stock is currently owned by hedge funds and other institutional investors.

Exact Sciences Company Profile

Exact Sciences Corporation is a molecular diagnostics company headquartered in Madison, Wisconsin, dedicated to the early detection and prevention of cancer. The company’s flagship product, Cologuard®, is a noninvasive, stool-based DNA screening test for colorectal cancer that was developed in collaboration with the Mayo Clinic. By combining DNA mutation analysis with hemoglobin detection, Cologuard aims to improve screening adherence and identify cancers and precancerous lesions in average-risk adults.

Since its founding in 1995, Exact Sciences has expanded its portfolio through strategic acquisitions and internal research and development.