Exact Sciences (NASDAQ:EXAS) Given New $67.00 Price Target at Stifel Nicolaus

Exact Sciences (NASDAQ:EXAS) had its price target cut by Stifel Nicolaus from $82.00 to $67.00 in a research note released on Wednesday, Benzinga reports. They currently have a buy rating on the medical research company’s stock.

Several other analysts have also recently issued reports on EXAS. Wells Fargo & Company started coverage on shares of Exact Sciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price objective for the company. TD Cowen dropped their price target on Exact Sciences from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday. Piper Sandler lifted their price objective on Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, September 12th. Benchmark decreased their target price on Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Sanford C. Bernstein raised their price target on shares of Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $75.06.

Exact Sciences Price Performance

EXAS stock opened at $54.72 on Wednesday. The stock’s fifty day simple moving average is $67.14 and its 200-day simple moving average is $56.65. Exact Sciences has a 52-week low of $40.62 and a 52-week high of $79.62. The stock has a market capitalization of $10.11 billion, a price-to-earnings ratio of -57.00 and a beta of 1.27. The company has a quick ratio of 1.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.73.

Exact Sciences (NASDAQ:EXAS) last posted 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). Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The company had revenue of $708.66 million for the quarter, compared to analyst estimates of $716.80 million. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. Equities research analysts expect 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 company’s stock in a transaction on Tuesday, October 8th. The shares were 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.36% of the company’s stock.

Institutional Trading of Exact Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Chicago Partners Investment Group LLC lifted its holdings in Exact Sciences by 1.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company’s stock worth $651,000 after buying an additional 158 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of Exact Sciences by 1.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 11,947 shares of the medical research company’s stock valued at $825,000 after acquiring an additional 200 shares in the last quarter. Amalgamated Bank lifted its stake in Exact Sciences by 2.7% during the second quarter. Amalgamated Bank now owns 10,937 shares of the medical research company’s stock worth $462,000 after purchasing an additional 284 shares during the last quarter. Midwest Professional Planners LTD. boosted its holdings in Exact Sciences by 12.3% in the first quarter. Midwest Professional Planners LTD. now owns 3,088 shares of the medical research company’s stock worth $213,000 after purchasing an additional 339 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in Exact Sciences by 92.4% during the first quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock valued at $49,000 after purchasing an additional 340 shares during the last quarter. 88.82% of the stock is owned by institutional investors.

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.