Exact Sciences (NASDAQ:EXAS) Sets New 12-Month High – Should You Buy?

Exact Sciences Corporation (NASDAQ:EXAS)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $103.75 and last traded at $103.71, with a volume of 3185358 shares trading hands. The stock had previously closed at $103.50.

Analysts Set New Price Targets

Several research firms recently issued reports on EXAS. Barclays reissued an “equal weight” rating and issued a $105.00 target price (up from $77.00) on shares of Exact Sciences in a research report on Thursday, November 20th. Evercore set a $105.00 price target on shares of Exact Sciences and gave the company an “in-line” rating in a research report on Monday, January 5th. William Blair downgraded Exact Sciences from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 20th. Mizuho reissued a “neutral” rating and set a $105.00 target price (up from $85.00) on shares of Exact Sciences in a report on Tuesday, January 20th. Finally, Craig Hallum cut shares of Exact Sciences from a “buy” rating to a “hold” rating and set a $105.00 target price on the stock. in a research note on Friday, November 21st. Twenty-one investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $92.13.

Exact Sciences Stock Performance

The company has a quick ratio of 2.17, a current ratio of 2.43 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $19.80 billion, a price-to-earnings ratio of -94.28, a P/E/G ratio of 2.36 and a beta of 1.41. The stock has a 50-day moving average price of $102.65 and a 200 day moving average price of $82.12.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Friday, February 13th. The medical research company reported ($0.21) earnings per share (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%.During the same period last year, the firm earned ($0.06) EPS. The business’s quarterly revenue was up 23.1% on a year-over-year basis. On average, analysts forecast that Exact Sciences Corporation will post -0.58 EPS for the current year.

Institutional Trading of Exact Sciences

Several hedge funds have recently modified their holdings of EXAS. HBK Investments L P acquired a new stake in Exact Sciences in the 4th quarter valued at about $776,592,000. Pentwater Capital Management LP purchased a new position in shares of Exact Sciences in the 4th quarter worth $736,310,000. Norges Bank purchased a new position in shares of Exact Sciences in the 4th quarter worth about $348,425,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Exact Sciences during the second quarter worth about $157,805,000. Finally, Ameriprise Financial Inc. grew its position in shares of Exact Sciences by 105.8% during the third quarter. Ameriprise Financial Inc. now owns 4,493,085 shares of the medical research company’s stock worth $245,802,000 after buying an additional 2,310,139 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.