BTIG Research Has Lowered Expectations for Exact Sciences (NASDAQ:EXAS) Stock Price

Exact Sciences (NASDAQ:EXAS) had its price objective lowered by stock analysts at BTIG Research from $82.00 to $65.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. BTIG Research’s price objective suggests a potential upside of 22.11% from the company’s current price.

Other research analysts also recently issued research reports about the company. The Goldman Sachs Group lowered their price objective on Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday. Wells Fargo & Company assumed coverage on shares of Exact Sciences in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 price target for the company. Stifel Nicolaus cut their price target 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. Canaccord Genuity Group increased their price objective on Exact Sciences from $75.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Finally, Sanford C. Bernstein raised their target price on Exact Sciences from $75.00 to $90.00 and gave the stock 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 given a buy rating to the company. According to data from MarketBeat.com, Exact Sciences has a consensus rating of “Moderate Buy” and an average price target of $75.06.

Exact Sciences Stock Performance

NASDAQ EXAS opened at $53.23 on Wednesday. The firm’s fifty day moving average price is $66.96 and its two-hundred day moving average price is $56.63. The stock has a market cap of $9.84 billion, a PE ratio of -55.45 and a beta of 1.27. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.98 and a current ratio of 2.17. Exact Sciences has a fifty-two week low of $40.62 and a fifty-two week high of $79.62.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates 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% on a year-over-year basis. On average, equities analysts expect that Exact Sciences will post -0.87 EPS for the current fiscal year.

Insider Transactions at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the transaction, the executive vice president now owns 12,758 shares in the company, valued at $893,060. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.36% of the company’s stock.

Hedge Funds Weigh In On Exact Sciences

Institutional investors have recently made changes to their positions in the stock. Huntington National Bank grew its stake in shares of Exact Sciences by 838.1% in the 3rd quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after buying an additional 352 shares during the period. Itau Unibanco Holding S.A. bought a new position in Exact Sciences in the second quarter worth approximately $29,000. Capital Performance Advisors LLP bought a new position in Exact Sciences in the third quarter worth approximately $35,000. Vestor Capital LLC acquired a new stake in Exact Sciences in the third quarter valued at approximately $46,000. Finally, V Square Quantitative Management LLC bought a new stake in shares of Exact Sciences during the third quarter valued at approximately $47,000. 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.