Exact Sciences (NASDAQ:EXAS) Reaches New 1-Year High – Still a Buy?

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

Analysts Set New Price Targets

Several research firms have recently commented on EXAS. Stifel Nicolaus reissued a “hold” rating and issued a $105.00 price target (up from $80.00) on shares of Exact Sciences in a report on Friday, November 28th. Piper Sandler lowered shares of Exact Sciences from an “overweight” rating to a “hold” rating and set a $105.00 price objective on the stock. in a research report on Monday, November 24th. BTIG Research cut shares of Exact Sciences from a “buy” rating to a “neutral” rating in a research note on Thursday, November 20th. Benchmark cut Exact Sciences from a “buy” rating to a “hold” rating in a report on Monday, November 24th. Finally, Guggenheim downgraded Exact Sciences from a “buy” rating to a “neutral” rating in a research report on Thursday, November 20th. Two analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $89.56.

Exact Sciences Stock Performance

The company has a current ratio of 2.72, a quick ratio of 2.44 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $19.74 billion, a P/E ratio of -19.45, a P/E/G ratio of 2.44 and a beta of 1.42. The stock’s 50-day moving average price is $101.93 and its 200-day moving average price is $74.39.

Insiders Place Their Bets

In other news, EVP Jacob A. Orville sold 5,000 shares of the business’s stock in a transaction on 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. The trade was a 17.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Exact Sciences

Several hedge funds have recently bought and sold shares of EXAS. Integrated Wealth Concepts LLC bought a new position in shares of Exact Sciences in the first quarter worth about $604,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Exact Sciences by 11.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,186 shares of the medical research company’s stock worth $921,000 after purchasing an additional 2,231 shares during the last quarter. Great Lakes Advisors LLC lifted its holdings in Exact Sciences by 3.7% during the 1st quarter. Great Lakes Advisors LLC now owns 4,971 shares of the medical research company’s stock worth $215,000 after buying an additional 178 shares in the last quarter. Focus Partners Wealth boosted its holdings in Exact Sciences by 12.6% during the first quarter. Focus Partners Wealth now owns 21,548 shares of the medical research company’s stock worth $933,000 after buying an additional 2,413 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in Exact Sciences by 6.5% during the 2nd quarter. IFP Advisors Inc now owns 4,466 shares of the medical research company’s stock worth $237,000 after purchasing an additional 273 shares in the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.

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.