Exact Sciences’ (EXAS) Neutral Rating Reiterated at BTIG Research

BTIG Research restated their neutral rating on shares of Exact Sciences (NASDAQ:EXAS) in a research report report published on Tuesday morning,Benzinga reports.

Other analysts have also issued reports about the stock. 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 research note on Tuesday, November 25th. Jefferies Financial Group downgraded shares of Exact Sciences from a “buy” rating to a “hold” rating and increased their price objective for the company 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 stock an “in-line” rating in a report on Monday, January 5th. Zacks Research downgraded shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Finally, TD Cowen lowered shares of Exact Sciences from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Twenty-one investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Exact Sciences currently has an average rating of “Reduce” and an average price target of $92.13.

Exact Sciences Stock Performance

Shares of NASDAQ:EXAS opened at $104.91 on Tuesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.43 and a quick ratio of 2.17. Exact Sciences has a 1 year low of $38.81 and a 1 year high of $104.98. The company has a market cap of $20.03 billion, a P/E ratio of -95.37, a PEG ratio of 2.02 and a beta of 1.41. The stock’s fifty day moving average price is $103.27 and its 200-day moving average price is $87.09.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Friday, February 13th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.29). Exact Sciences had a positive return on equity of 0.53% and a negative net margin of 6.40%.The business had revenue of $878.38 million during the quarter, compared to the consensus estimate of $860.59 million. During the same quarter in the previous year, the business posted ($0.06) earnings per share. Exact Sciences’s quarterly revenue was up 23.1% compared to the same quarter last year. Sell-side analysts expect that Exact Sciences will post -0.58 earnings per share for the current year.

Hedge Funds Weigh In On Exact Sciences

A number of institutional investors and hedge funds have recently made changes to their positions in EXAS. Corient Private Wealth LLC grew its position in Exact Sciences by 27.5% during the fourth quarter. Corient Private Wealth LLC now owns 18,841 shares of the medical research company’s stock valued at $1,915,000 after buying an additional 4,063 shares during the period. MidFirst Bank bought a new position in Exact Sciences in the fourth quarter worth approximately $5,150,000. Kera Capital Partners Inc. purchased a new position in shares of Exact Sciences during the 4th quarter worth $279,000. Virtu Financial LLC purchased a new position in shares of Exact Sciences during the 4th quarter worth $210,000. Finally, Compound Planning Inc. bought a new stake in shares of Exact Sciences during the 4th quarter valued at $542,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

About Exact Sciences

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.