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Exact Sciences Corporation’s Stock Price Soared Recently, But There Might Be Trouble Ahead

Exact Sciences Corporation (NASDAQ:EXAS) traded at $63.03 at last check on Tuesday, 01/24/23, made a downward move of -3.48% on its previous day’s price.

Looking at the stock we see that its previous close was $65.30 and the beta (5Y monthly) reads 1.32 with the day’s price range being $64.9044 – $68.27. In terms of its 52-week price range, EXAS has a high of $84.31 and a low of $29.27. The company’s stock has gained about 24.67% over that past 30 days.

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Exact Sciences Corporation has a market cap of $11.26 billion and is expected to release its quarterly earnings report on Feb 20, 2023 – Feb 24, 2023. Estimates by analysts give the company expected earnings per share (EPS) of -$1.08, with the EPS growth for the year raised at -$4.2 for 2022 and -$3.34 for next year. These figures represent -20.70% and 20.50% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $502.94 million, with a low of $496.1 million and a high of $524 million. The median projection represents growth squeezing down to 10.20% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $2.01 billion, or 13.90% up from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the EXAS stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 50% Buy.

Based on estimates by 21 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 6 have rated the Exact Sciences Corporation (EXAS) stock as a Hold, while 14 rate it as a Buy. 1 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Overweight and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is 7.93% off its SMA20 and 24.35% from its 50-day simple moving average. The RSI (14) is pointing at 59.79 while the volatility over the past week is 4.96% and jumps to 5.44% over the past one month. The beta value is 1.36, while the average true range (ATR) is currently pointing at 3.45. The average price target for the stock over the next 12 months is $63.59, with the estimates having a low of $35.00 and a high of $95.00. These price ends are 44.47% and -50.72% off the today’s price level respectively, although investors could be excited at the prospect of a 1.63% if the EXAS share price touches on the median price of $62.00.

Let’s briefly compare Exact Sciences Corporation (EXAS) stock to its peers. We find that today’s price change of -3.48% and -11.79% over the past 12 months for EXAS competes that of Veracyte Inc. (VCYT), which has seen its stock price fall -5.01% in the latest trading session and is -4.04% over the last one year. Another of its peers Invacare Corporation (IVC) was -78.54% down over the past year, while Myriad Genetics Inc. (MYGN) is also down -5.10% yet, while its price remains in the red at -20.96% over the same period. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at -1.43% and -1.17%, respectively, in early deals.

Coming back to Exact Sciences Corporation (NASDAQ:EXAS), we note that the average 3-month trading volume was 2.70 million, while that of the preceding 10-day period stands at 3.67 million. Current shares outstanding are 177.00 million.

The insiders hold 0.70% of the company’s shares while institutions hold 89.30%. The data shows that short shares as of Oct 13, 2022, stood at 10.62 million at a short ratio of 4.99. This represents a 6.00% short interest in shares outstanding on Oct 13, 2022. Shares short fall in October from the previous month at 11.22 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock 31.89% up in year-to-date price movement.

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