Exact Sciences (NASDAQ:EXAS) Reaches New 1-Year High – What’s Next?

Exact Sciences Corporation (NASDAQ:EXAS)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $102.70 and last traded at $102.6250, with a volume of 486121 shares. The stock had previously closed at $102.50.

Analyst Ratings Changes

A number of analysts have commented on the company. Piper Sandler cut Exact Sciences from an “overweight” rating to a “hold” rating and set a $105.00 price target for the company. in a research report on Monday, November 24th. Citigroup cut Exact Sciences from a “buy” rating to a “hold” rating in a research note on Thursday, November 20th. William Blair lowered Exact Sciences from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 20th. Wolfe Research downgraded shares of Exact Sciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. Finally, Mizuho restated a “neutral” rating and set a $105.00 price objective (up from $85.00) on shares of Exact Sciences in a research note on Tuesday, January 20th. Two investment analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $89.56.

Exact Sciences Price Performance

The company has a debt-to-equity ratio of 0.93, a current ratio of 2.72 and a quick ratio of 2.44. The stock has a fifty day simple moving average of $101.83 and a 200-day simple moving average of $73.08. The company has a market capitalization of $19.59 billion, a price-to-earnings ratio of -19.30, a P/E/G ratio of 2.42 and a beta of 1.42.

Exact Sciences (NASDAQ:EXAS) last posted its earnings results on Monday, November 3rd. The medical research company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.11. Exact Sciences had a negative net margin of 32.01% and a positive return on equity of 1.67%. The firm had revenue of $850.74 million during the quarter, compared to analyst estimates of $810.42 million. During the same period in the previous year, the firm earned ($0.21) EPS. The business’s quarterly revenue was up 20.0% on a year-over-year basis. On average, equities research analysts anticipate that Exact Sciences Corporation will post -0.58 EPS for the current year.

Insider Buying and Selling at Exact Sciences

In other news, EVP Jacob A. Orville sold 5,000 shares of the stock in a transaction dated Wednesday, November 19th. The shares were 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 represents a 17.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Exact Sciences

Institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new position in shares of Exact Sciences during the 4th quarter worth approximately $26,000. Torren Management LLC purchased a new stake in Exact Sciences in the 4th quarter worth $27,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Exact Sciences during the fourth quarter worth $44,000. Westside Investment Management Inc. lifted its holdings in Exact Sciences by 100.0% during the third 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 in the last quarter. Finally, True Wealth Design LLC lifted its holdings in Exact Sciences by 951.8% during the second quarter. True Wealth Design LLC now owns 589 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 533 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.