Bank of America Lowers Exact Sciences (NASDAQ:EXAS) Price Target to $65.00

Exact Sciences (NASDAQ:EXAS) had its price target trimmed by Bank of America from $72.00 to $65.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the medical research company’s stock.

A number of other research firms have also commented on EXAS. William Blair reissued an “outperform” rating on shares of Exact Sciences in a research report on Monday, January 13th. Craig Hallum lowered their price target on Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. The Goldman Sachs Group lowered their price target on Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Robert W. Baird lowered their price target on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Finally, Sanford C. Bernstein increased their price target on Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.06.

Exact Sciences Price Performance

Shares of NASDAQ:EXAS opened at $49.51 on Thursday. 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 twelve month low of $40.62 and a twelve month high of $79.62. The stock’s 50 day moving average is $55.15 and its 200-day moving average is $60.03. The firm has a market capitalization of $9.16 billion, a price-to-earnings ratio of -42.32 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last issued its earnings results on Wednesday, February 19th. The medical research company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates 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%. The company had revenue of $713.42 million for the quarter, compared to analyst estimates of $701.45 million. Sell-side analysts forecast that Exact Sciences will post -1.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Huntington National Bank grew its stake in shares of Exact Sciences by 838.1% during the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after acquiring an additional 352 shares during the period. RPg Family Wealth Advisory LLC bought a new position in shares of Exact Sciences during the 3rd quarter worth $34,000. Capital Performance Advisors LLP bought a new position in shares of Exact Sciences during the 3rd quarter worth $35,000. Asset Planning Inc bought a new position in shares of Exact Sciences during the 4th quarter worth $40,000. Finally, Modus Advisors LLC bought a new position in shares of Exact Sciences during the 4th quarter worth $43,000. Institutional investors own 88.82% of the company’s stock.

About Exact Sciences

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.