Why Has BTIG Given EXACT Sciences (NASDAQ:EXAS) a $14.00 Price Target
BTIG analyst initiated coverage on EXACT Sciences (NASDAQ:EXAS) with a $14.00 target price and Buy rating. The target price means a potential upside of 50.54% from company’s previous close.
From a total of 10 analysts covering EXACT Sciences (NASDAQ:EXAS) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $22 while the lowest target price is $6.5. The mean of all analyst targets is $13.05 with a 18.51% above today’s ($8.97) stock price. EXACT Sciences was the topic of 15 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. Lake Street maintained shares on November 24 with “Hold” rating. Mizuho maintained shares with “Buy” rating and $12 target share price in a report from an October 7. TH Capital maintained EXAS stock in a recent report from October 30 with “Buy” rating. Goldman Sachs maintained the rating on October 6. Goldman Sachs has a “Neutral” rating and a $11 price target on shares. Finally, Canaccord Genuity maintained the stock with “Buy” rating in a report issued on an October 7.
The stock increased 0.34% or $0.03 during the last trading session, striking $8.97. Approximately 8.60 million shares of stock traded hands or 383.15% up from the average. EXACT Sciences Corporation (NASDAQ:EXAS) has declined 61.08% since May 15, 2015 and is downtrending. It has underperformed by 57.27% the S&P500.
The overall sentiment of institutions has decreased to 1.24 in Q2 2015. Its down 0.23, from 1.47 in 2015Q2. The ratio dropped, as 33 institutions have sold all the shares of EXACT Sciences Corporation that they owned while 52 funds have taken shares off the table. 22 funds have purchased shares for the first time while 83 added to their positions. These institutions now hold 93.71 million shares or 8.64% more than the 86.25 million shares they owned in 2015Q2.
The Fund J&P(China)Capital Management Co.Ltd currently is holding shares equating to 6.9% of its total portfolio in EXACT Sciences Corporation representing a total of 1.84 million shares. Another fund,Harvey Capital Management Inc, is holding a total of 366,250 shares equating to 2.63% of their holdings. Additionally, Bridger Management Llc has a 1.54 million share stake in EXACT Sciences Corporation which represents 1.89% of their total portfolio. The Fund, Cupps Capital Management Llc, based out of Illinois, has also built up a stake in the stock, which represents a total of 1.5% of their total portfolio. Finally Zevenbergen Capital Investments Llc, a fund which is based in the state of Washington reported a total holdings of 1.78 million shares.
Insider activity is a very important aspect to track on any stock. Going back to July 28, 2015, shareholders of EXACT Sciences Corporation have witnessed 0 buys, and a total of 3 insider sales equating to a net activity of approximately $800,459 . Arora Maneesh sold 9,332 shares worth approximately $224,341. Lidgard Graham Peter sold 12,579 shares worth approximately $302,399. Conroy Kevin T sold 11,386 shares worth approximately $273,719.
Exact Sciences Corporation is a molecular diagnostics firm focused on the early detection and prevention of colorectal cancer. The company has a market cap of $854.59 million. The Firm has developed a non‑invasive screening test called Cologuard for colorectal cancer. It currently has negative earnings. The Company’s Cologuard test is a non‑invasive stool‑based deoxyribonucleic acid (sDNA) screening test designed to detect DNA markers.
According to Zacks Investment Research, “EXACT Sciences Corporation uses applied genomics to develop effective, patient-friendly screening technologies for use in the detection of cancer. Certain of its technologies have been licensed to Laboratory Corporation of America Holdings for a stool-based DNA screening assay for colorectal cancer in the average-risk population. Colorectal cancer, which is the most deadly cancer among non-smokers, is generally curable if detected early. Despite the availability of colorectal cancer screening and diagnostic tests for more than twenty years, the rate of early detection of colorectal cancer remains low, and deaths from colorectal cancer remain high. EXACT Sciences believes its genomics-based technologies would help to enable detection of colorectal cancer so that more people can be effectively treated.”