Exact Sciences (NASDAQ:EXAS) Price Target Raised to $85.00

Exact Sciences (NASDAQ:EXAS) had its price objective increased by equities researchers at Wells Fargo & Company from $68.00 to $85.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the medical research company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 22.72% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. Evercore ISI upped their target price on shares of Exact Sciences from $64.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Exact Sciences in a research note on Wednesday, October 8th. Craig Hallum upped their price target on Exact Sciences from $65.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, September 11th. UBS Group decreased their price objective on Exact Sciences from $61.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Finally, Wall Street Zen upgraded Exact Sciences from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $73.75.

Exact Sciences Stock Performance

Exact Sciences stock traded down $0.32 during trading hours on Wednesday, reaching $69.27. 895,388 shares of the company were exchanged, compared to its average volume of 2,735,850. Exact Sciences has a 12 month low of $38.81 and a 12 month high of $72.81. The firm has a market cap of $13.11 billion, a price-to-earnings ratio of -12.77, a PEG ratio of 5.56 and a beta of 1.24. The company has a current ratio of 2.89, a quick ratio of 2.56 and a debt-to-equity ratio of 0.94. The stock has a 50-day moving average of $56.85 and a 200 day moving average of $53.02.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Monday, November 3rd. The medical research company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.11. The business had revenue of $850.74 million during the quarter, compared to analysts’ expectations of $810.42 million. Exact Sciences had a negative return on equity of 1.75% and a negative net margin of 34.19%.The firm’s revenue was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.21) EPS. Exact Sciences has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Exact Sciences will post -0.58 earnings per share for the current year.

Insider Activity at Exact Sciences

In related news, Director James Edward Doyle sold 2,000 shares of the firm’s stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $60.00, for a total transaction of $120,000.00. Following the completion of the sale, the director directly owned 57,962 shares of the company’s stock, valued at $3,477,720. This trade represents a 3.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EXAS. Larson Financial Group LLC raised its stake in shares of Exact Sciences by 2,804.8% in the first quarter. Larson Financial Group LLC now owns 610 shares of the medical research company’s stock worth $26,000 after acquiring an additional 589 shares during the last quarter. National Pension Service lifted its position in Exact Sciences by 75.1% during the 1st quarter. National Pension Service now owns 681 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 292 shares during the period. SVB Wealth LLC bought a new position in shares of Exact Sciences in the 1st quarter valued at about $30,000. True Wealth Design LLC raised 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 valued at $31,000 after acquiring an additional 533 shares during the last quarter. Finally, Westside Investment Management Inc. lifted its stake in shares of Exact Sciences by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 542 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 271 shares during the period. 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.