Stifel Nicolaus Has Lowered Expectations for Exact Sciences (NASDAQ:EXAS) Stock Price

Exact Sciences (NASDAQ:EXAS) had its price objective lowered by Stifel Nicolaus from $82.00 to $67.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the medical research company’s stock.

EXAS has been the subject of a number of other reports. Robert W. Baird decreased their price objective on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a report on Wednesday. Benchmark decreased their price target on Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday. Raymond James restated a “market perform” rating on shares of Exact Sciences in a research note on Thursday, September 26th. Craig Hallum decreased their target price on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Evercore ISI dropped their price target on shares of Exact Sciences from $80.00 to $60.00 and set an “outperform” rating on the stock 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $75.06.

Exact Sciences Stock Performance

NASDAQ:EXAS opened at $54.72 on Wednesday. Exact Sciences has a 12-month low of $40.62 and a 12-month high of $79.62. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.17 and a quick ratio of 1.98. The business has a 50 day simple moving average of $67.14 and a 200 day simple moving average of $56.65. The firm has a market capitalization of $10.11 billion, a P/E ratio of -57.00 and a beta of 1.27.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The firm 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 4.97% and a negative net margin of 6.70%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. Equities research analysts predict 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 that occurred 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 completion of the transaction, the executive vice president now owns 12,758 shares of the company’s stock, valued at approximately $893,060. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.36% of the stock is currently owned by insiders.

Institutional Trading of Exact Sciences

A number of hedge funds have recently modified their holdings of the business. Chicago Partners Investment Group LLC raised its position in Exact Sciences by 1.7% during the third quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company’s stock valued at $651,000 after buying an additional 158 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Exact Sciences by 1.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 11,947 shares of the medical research company’s stock valued at $825,000 after purchasing an additional 200 shares during the period. Amalgamated Bank lifted its position in shares of Exact Sciences by 2.7% in 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 in the last quarter. Midwest Professional Planners LTD. boosted its holdings in shares of Exact Sciences by 12.3% during 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 grew its position 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 in the last quarter. Hedge funds and other 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.