Barclays Issues Pessimistic Forecast for Exact Sciences (NASDAQ:EXAS) Stock Price

Exact Sciences (NASDAQ:EXAS) had its price target dropped by Barclays from $70.00 to $65.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the medical research company’s stock. Barclays‘s price objective would suggest a potential upside of 28.76% from the company’s current price.

EXAS has been the topic of a number of other research reports. Robert W. Baird dropped their target price on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Piper Sandler cut their price objective on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Jefferies Financial Group boosted their price target on Exact Sciences from $84.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Sanford C. Bernstein raised their price objective on Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, William Blair reiterated an “outperform” rating on shares of Exact Sciences in a research note on Monday, January 13th. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, Exact Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $72.06.

Exact Sciences Trading Up 1.7 %

NASDAQ:EXAS opened at $50.48 on Thursday. The company’s 50 day moving average is $55.41 and its 200-day moving average is $60.10. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72. Exact Sciences has a 12 month low of $40.62 and a 12 month high of $79.62. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of -43.14 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.23. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. Equities analysts anticipate that Exact Sciences will post -1.1 EPS for the current year.

Institutional Trading of Exact Sciences

Several hedge funds and other institutional investors have recently modified their holdings of EXAS. Thompson Investment Management Inc. boosted its holdings in Exact Sciences by 17.8% during the fourth quarter. Thompson Investment Management Inc. now owns 241,774 shares of the medical research company’s stock worth $13,585,000 after purchasing an additional 36,505 shares during the last quarter. WCM Investment Management LLC increased its position in shares of Exact Sciences by 1,153.2% during the 3rd quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company’s stock worth $12,388,000 after purchasing an additional 172,821 shares during the last quarter. Simplify Asset Management Inc. raised its stake in shares of Exact Sciences by 67.5% during the 3rd quarter. Simplify Asset Management Inc. now owns 29,277 shares of the medical research company’s stock worth $1,994,000 after purchasing an additional 11,800 shares in the last quarter. Zacks Investment Management acquired a new stake in shares of Exact Sciences in the 3rd quarter valued at approximately $2,083,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Exact Sciences by 59.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 335,705 shares of the medical research company’s stock worth $22,868,000 after buying an additional 125,192 shares during the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.

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.