BTIG Research Lowers Exact Sciences (NASDAQ:EXAS) Price Target to $65.00

Exact Sciences (NASDAQ:EXAS) had its target price trimmed by BTIG Research from $82.00 to $65.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the medical research company’s stock.

Several other research analysts have also recently weighed in on the stock. Robert W. Baird lowered their price target on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating on the stock in a report on Wednesday. Benchmark dropped their price target on Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday. The Goldman Sachs Group decreased their price objective on Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday. Stifel Nicolaus dropped their target price on Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Finally, Evercore ISI reduced their target price on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $75.06.

Exact Sciences Stock Down 3.3 %

EXAS stock opened at $51.48 on Wednesday. Exact Sciences has a 1-year low of $40.62 and a 1-year high of $79.62. The business’s 50 day simple moving average is $66.76 and its 200 day simple moving average is $56.51. The company has a current ratio of 2.12, a quick ratio of 1.98 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $9.53 billion, a PE ratio of -44.00 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The company had revenue of $708.66 million for the quarter, compared to the consensus estimate of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, research analysts anticipate that Exact Sciences will post -0.87 EPS for the current year.

Insider Transactions at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the sale, the executive vice president now directly owns 12,758 shares of the company’s stock, valued at $893,060. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.36% of the stock is owned by insiders.

Hedge Funds Weigh In On Exact Sciences

A number of institutional investors have recently added to or reduced their stakes in EXAS. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Exact Sciences by 16.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,196 shares of the medical research company’s stock worth $6,160,000 after buying an additional 12,349 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in Exact Sciences by 5.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 207,364 shares of the medical research company’s stock worth $14,361,000 after acquiring an additional 10,356 shares during the last quarter. Profund Advisors LLC increased its holdings in Exact Sciences by 239.8% in the 2nd quarter. Profund Advisors LLC now owns 78,589 shares of the medical research company’s stock worth $3,320,000 after purchasing an additional 55,459 shares in the last quarter. William Blair Investment Management LLC bought a new position in Exact Sciences in the second quarter valued at about $163,896,000. Finally, Swedbank AB bought a new position in Exact Sciences in the first quarter valued at about $2,719,000. 88.82% of the stock is currently owned by institutional investors and hedge funds.

Exact Sciences Company Profile

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.