Canaccord Genuity Group Raises Exact Sciences (NASDAQ:EXAS) Price Target to $95.00

Exact Sciences (NASDAQ:EXAS) had its target price increased by Canaccord Genuity Group from $75.00 to $95.00 in a research report released on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the medical research company’s stock.

A number of other research analysts have also recently commented on EXAS. Evercore ISI upped their price target on Exact Sciences from $72.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Stifel Nicolaus dropped their price target on Exact Sciences from $100.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Piper Sandler upped their price target on Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, September 12th. Raymond James reaffirmed a “market perform” rating on shares of Exact Sciences in a research report on Thursday, September 26th. Finally, Wells Fargo & Company initiated coverage on Exact Sciences in a research report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price target on the stock. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $80.64.

Exact Sciences Stock Up 1.3 %

Shares of NASDAQ:EXAS opened at $69.80 on Tuesday. The company has a market capitalization of $12.90 billion, a PE ratio of -72.71 and a beta of 1.27. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.17 and a quick ratio of 1.98. The business has a fifty day moving average price of $66.81 and a two-hundred day moving average price of $56.64. Exact Sciences has a 1 year low of $40.62 and a 1 year high of $79.62.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Wednesday, July 31st. The medical research company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.28. The firm had revenue of $699.26 million during the quarter, compared to the consensus estimate of $690.02 million. Exact Sciences had a negative return on equity of 4.97% and a negative net margin of 6.70%. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.45) EPS. Analysts forecast that Exact Sciences will post -0.87 earnings per share for the current year.

Insider Activity

In other news, EVP Brian Baranick sold 929 shares of the stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the transaction, the executive vice president now directly owns 12,758 shares in the company, valued at approximately $893,060. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.36% of the company’s stock.

Hedge Funds Weigh In On Exact Sciences

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Chicago Partners Investment Group LLC grew its position in Exact Sciences by 1.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company’s stock worth $651,000 after acquiring an additional 158 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in Exact Sciences by 1.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 11,947 shares of the medical research company’s stock worth $825,000 after buying an additional 200 shares during the period. Amalgamated Bank lifted its stake in shares of Exact Sciences by 2.7% in the 2nd quarter. Amalgamated Bank now owns 10,937 shares of the medical research company’s stock valued at $462,000 after purchasing an additional 284 shares during the period. Midwest Professional Planners LTD. lifted its stake in shares of Exact Sciences by 12.3% in the 1st quarter. Midwest Professional Planners LTD. now owns 3,088 shares of the medical research company’s stock valued at $213,000 after purchasing an additional 339 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Exact Sciences by 92.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock valued at $49,000 after purchasing an additional 340 shares during the period. 88.82% of the stock is currently owned by institutional investors.

About Exact Sciences

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.