Exact Sciences Corporation (NASDAQ: EXAS) is surging today after reports that healthcare giant Abbott Laboratories is in advanced talks to acquire the cancer diagnostics specialist. Shares of EXAS spiked sharply intraday, briefly approaching new 52‑week highs as traders rushed into the name on renewed takeover speculation. [1]
Key points
- EXAS stock jumped more than 20% intraday on November 19, 2025, after reports that Abbott is nearing a takeover of Exact Sciences. [2]
- As of around 2:17 p.m. ET, EXAS was trading near $81.79, up about 17% on the day, after touching an intraday high of $89.67, now also its 52‑week high. [3]
- A deal would mark one of Abbott’s biggest acquisitions in nearly a decade, according to coverage of the talks, underscoring the strategic value of Exact Sciences’ cancer screening franchise. [4]
- Fresh headlines today also highlighted new institutional buying (including a large stake from Massachusetts Financial Services) and strong recent earnings and clinical data underpinning the rally. [5]
EXAS stock today: price, move, and trading activity
According to Exact Sciences’ own investor relations quote page, EXAS was recently quoted at $81.79, up $12.11 or +17.38% versus yesterday’s close at $69.68. Intraday, the stock has traded between $69.11 and $89.67, with volume already above 10.4 million shares, far exceeding its recent averages. [6]
Other real‑time feeds and market reports show the stock at times up 20–28% during the session, with one data point noting EXAS up roughly 19–21% as traders reacted to the takeover headlines. [7]
Analytics firm Quiver Quantitative estimates that about $645 million worth of EXAS shares changed hands today, highlighting the intensity of institutional and retail participation in the move. [8]
On a 12‑month view, EXAS has now climbed more than 50% year‑over‑year, and its 52‑week range has expanded to roughly $38.81–$89.67, cementing today as a major breakout session for the stock. [9]
Abbott takeover talks ignite Exact Sciences rally
The immediate catalyst for today’s surge is a Reuters report, citing a Bloomberg story, that Abbott Laboratories is nearing a potential takeover of Exact Sciences. The reporting, based on people familiar with the matter, says Abbott is in advanced discussions over a transaction that could be announced “in the coming days,” while cautioning that negotiations could still face delays or fall apart. [10]
Key details from today’s deal reporting:
- Abbott is said to be in advanced talks to buy Exact Sciences, a leader in non‑invasive colorectal and other cancer tests. [11]
- The potential transaction would rank among Abbott’s largest deals in nearly a decade, signaling a bold bet on cancer diagnostics and screening. TechStock²+1
- The news sent Exact Sciences’ shares up nearly 25% at one point, while Abbott’s stock traded around 3–4% lower as investors weighed the price tag and integration risk. [12]
An Investing.com update framed it bluntly: EXAS shares were “soaring over 21%” on Wednesday after the Bloomberg report that Abbott is in advanced talks to acquire the company, with a deal “potentially announced within the coming days” but still subject to the risk of delay or collapse. [13]
For now, neither Abbott nor Exact Sciences has publicly commented on the reports, and no terms (including price, structure, or regulatory conditions) have been officially disclosed. [14]
Why Abbott might want Exact Sciences
While deal terms are unknown, the strategic logic is relatively clear:
- Category‑leading colorectal screening
Exact Sciences’ flagship Cologuard® and Cologuard Plus™ stool‑based DNA tests are guideline‑recommended, widely reimbursed, and have been used in more than 20 million screenings in the U.S., according to company disclosures. [15] - Expanding into multi‑cancer and blood‑based testing
In September, the company launched Cancerguard®, a first‑of‑its‑kind multi‑cancer early detection (MCED) blood test, supported by data from large trials like DETECT‑A and ASCEND 2. [16] - Breakthrough liver cancer data
On November 7, Exact Sciences reported landmark ALTUS study results showing its Oncoguard® Liver blood test delivered dramatically higher sensitivity for early‑stage hepatocellular carcinoma compared with ultrasound, including a seven‑fold improvement for very early‑stage disease. [17] - Pipeline and partnerships
The company has also secured an exclusive licensing deal with Freenome for blood‑based colorectal screening tests and announced the expiration of the HSR antitrust waiting period for that license on November 10, lowering regulatory uncertainty around the partnership. [18]
For Abbott, which already runs a large global diagnostics franchise, acquiring Exact Sciences would:
- Strengthen its position in cancer screening, particularly in non‑invasive and blood‑based modalities.
- Add a portfolio of branded tests (Cologuard, Cologuard Plus, Cancerguard, Oncotype DX, Oncoguard Liver)that are already embedded in clinical practice and guidelines. [19]
- Potentially deliver cross‑selling and distribution synergies across Abbott’s global lab and hospital customer base.
Fundamental backdrop: Q3 beat and strong growth
Today’s move isn’t happening in a vacuum. Exact Sciences entered this week with solid operating momentum:
- In its Q3 2025 earnings release on November 3, the company reported:
- Total revenue of $851 million, up 20% year‑over‑year.
- Screening revenue of $666 million (+22%) and Precision Oncology revenue of $184 million (+13%).
- Adjusted EBITDA of $135 million, representing a 37% increase and a 16% adjusted EBITDA margin.
- Operating cash flow of $220 million and free cash flow of $190 million, up 59% and 69% respectively, with about $1.0 billion in cash and marketable securities on the balance sheet. [20]
- MarketBeat’s breakdown of the same quarter notes that EXAS delivered EPS of $0.24, beating consensus estimates of $0.13, with revenue modestly ahead of Wall Street forecasts. The company still posts a negative net margin but continues to trend toward sustained profitability. [21]
These results led management to raise full‑year 2025 revenue and EBITDA guidance, signalling confidence in both the screening and precision oncology franchises. [22]
Clinical tailwinds: Cologuard Plus, adherence, and real‑world data
Several recent scientific updates are also part of the EXAS story investors are trading around today:
- A Journal of the National Cancer Institute modeling study published October 7 found that Cologuard Plus™was the only non‑invasive colorectal screening option to deliver an “efficient” balance of life‑years gained vs. colonoscopies performed at guideline‑recommended intervals. The study, sponsored by Exact Sciences, used the same modeling framework that helped shape the U.S. Preventive Services Task Force’s 2021 screening guidelines. [23]
- The analysis highlighted Cologuard Plus’ combination of high sensitivity (around 95% for colorectal cancer) and high specificity (about 94%), supporting both clinical outcomes and colonoscopy capacity constraints. [24]
- At ACG 2025, Exact presented data emphasizing how its mt‑sDNA tests and patient navigation programs help close screening gaps, especially in Medicare Advantage and underserved populations, with significantly higher completion rates versus traditional fecal immunochemical testing (FIT). [25]
Taken together, these datasets reinforce the view that Exact Sciences isn’t just a one‑product story; it’s building a broader platform in early cancer detection, which likely factors heavily into Abbott’s interest.
Big‑money flows: Massachusetts Financial Services and other institutions
Fresh institutional disclosures are another important piece of today’s EXAS narrative:
- A MarketBeat instant alert today highlighted that Massachusetts Financial Services Co. MA (MFS) has taken a new stake of 2,969,613 EXAS shares, valued at roughly $157.8 million, representing about 1.57% of the company at the end of the reported quarter. [26]
- Quiver Quantitative’s hedge‑fund data shows a mixed but active institutional picture: some large holders, such as FMR and Wellington Management, have trimmed positions, while others including Citadel, Canada Pension Plan Investment Board, Ameriprise, and ARK Invest have made sizable additions in recent quarters. [27]
Overall, institutional ownership stands near 89%, underscoring that EXAS is heavily owned — and closely watched — by professional investors. [28]
How Wall Street views EXAS after the spike
Before today’s takeover headlines, analysts were already generally positive on Exact Sciences:
- MarketBeat’s compilation shows a “Moderate Buy” consensus, with 2 “Strong Buy,” 15 “Buy,” 2 “Hold,” and 1 “Sell” ratings. [29]
- The average 12‑month price target sits around $74, with published targets ranging from the low $50s to about $90–100, depending on the source. [30]
- More recent updates compiled by Quiver show a median target near $80, with firms like Piper Sandler, Baird, Wells Fargo, and Guggenheim generally rating EXAS Overweight/Outperform/Buy following the Q3 print and ALTUS data. [31]
With the stock now trading above or near many existing price targets, the market is clearly starting to price in some probability of a takeover premium — or at least a structurally higher standalone valuation given the strengthened fundamentals.
What today’s move could mean for investors
From a news perspective, there are three main storylines for EXAS on November 19, 2025:
- M&A optionality
- Abbott is reportedly close to a deal, but not guaranteed to close. Any disappointment on deal terms, regulatory pushback, or a breakdown in talks could inject volatility into EXAS shares. [32]
- Fundamental re‑rating
- Even without a takeover, Exact Sciences is posting 20%+ revenue growth, improving profitability, and generating strong cash flow, backed by a differentiated pipeline in colorectal and multi‑cancer screening. [33]
- Institutional positioning and sentiment
- Large, sophisticated investors are actively recalibrating their exposure — some locking in gains, others building positions — while analysts broadly view the name favorably but may need to revisit their targets if the stock holds these higher levels or a firm bid emerges. [34]
Important: This article is for information and news purposes only and does not constitute financial or investment advice. Anyone considering an investment in EXAS, Abbott, or related securities should perform independent research and, where appropriate, consult a licensed financial adviser.
References
1. www.reuters.com, 2. www.reuters.com, 3. investor.exactsciences.com, 4. www.reuters.com, 5. www.marketbeat.com, 6. investor.exactsciences.com, 7. www.investing.com, 8. www.quiverquant.com, 9. www.investing.com, 10. www.reuters.com, 11. www.reuters.com, 12. www.reuters.com, 13. www.investing.com, 14. www.reuters.com, 15. investor.exactsciences.com, 16. investor.exactsciences.com, 17. investor.exactsciences.com, 18. www.exactsciences.com, 19. investor.exactsciences.com, 20. investor.exactsciences.com, 21. www.marketbeat.com, 22. investor.exactsciences.com, 23. www.exactsciences.com, 24. www.exactsciences.com, 25. investor.exactsciences.com, 26. www.marketbeat.com, 27. www.quiverquant.com, 28. www.marketbeat.com, 29. www.marketbeat.com, 30. www.marketbeat.com, 31. www.quiverquant.com, 32. www.reuters.com, 33. investor.exactsciences.com, 34. www.marketbeat.com
