The Goldman Sachs Group Has Lowered Expectations for Exact Sciences (NASDAQ:EXAS) Stock Price

Exact Sciences (NASDAQ:EXAS) had its price objective dropped by equities research analysts at The Goldman Sachs Group from $75.00 to $65.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 22.11% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Stifel Nicolaus cut their price objective on shares of Exact Sciences from $100.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. 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 note on Wednesday, October 30th. Benchmark decreased their price objective on Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday. Canaccord Genuity Group increased their target price on Exact Sciences from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Finally, Robert W. Baird decreased their target price on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research report on Wednesday. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Exact Sciences has a consensus rating of “Moderate Buy” and a consensus price target of $75.06.

Exact Sciences Stock Down 2.7 %

NASDAQ EXAS opened at $53.23 on Wednesday. The stock has a market capitalization of $9.84 billion, a P/E ratio of -55.45 and a beta of 1.27. Exact Sciences has a 52 week low of $40.62 and a 52 week high of $79.62. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.98 and a current ratio of 2.17. The stock has a fifty day moving average of $66.96 and a 200-day moving average of $56.63.

Exact Sciences (NASDAQ:EXAS) last announced 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 return on equity of 4.97% and a negative net margin of 6.70%. The firm had revenue of $708.66 million during the quarter, compared to analyst estimates of $716.80 million. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities research analysts forecast that Exact Sciences will post -0.87 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Brian Baranick sold 929 shares of the business’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 in the company, valued at $893,060. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.36% of the company’s stock.

Institutional Trading of Exact Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in EXAS. Private Advisor Group LLC increased its stake in Exact Sciences by 12.5% in the 1st quarter. Private Advisor Group LLC now owns 26,974 shares of the medical research company’s stock valued at $1,863,000 after buying an additional 2,999 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Exact Sciences by 1.7% in the first 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 during the last quarter. Motive Wealth Advisors bought a new stake in Exact Sciences during the first quarter worth about $201,000. Oppenheimer & Co. Inc. raised its holdings in Exact Sciences by 1.8% during the first quarter. Oppenheimer & Co. Inc. now owns 23,088 shares of the medical research company’s stock worth $1,594,000 after acquiring an additional 401 shares in the last quarter. Finally, ClariVest Asset Management LLC boosted its position in Exact Sciences by 32.4% during the first quarter. ClariVest Asset Management LLC now owns 25,313 shares of the medical research company’s stock valued at $1,748,000 after purchasing an additional 6,192 shares during the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.

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.