TD Cowen Cuts Exact Sciences (NASDAQ:EXAS) Price Target to $82.00

Exact Sciences (NASDAQ:EXAS) had its target price cut by TD Cowen from $90.00 to $82.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a buy rating on the medical research company’s stock.

EXAS has been the topic of a number of other research reports. Robert W. Baird dropped their price target on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating on the stock in a research report on Wednesday. Wells Fargo & Company assumed coverage on Exact Sciences in a research note on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price objective on the stock. Canaccord Genuity Group boosted their price objective on Exact Sciences from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Piper Sandler boosted 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. Finally, Stifel Nicolaus decreased their price objective on Exact Sciences from $100.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. One investment 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 stock presently has a consensus rating of “Moderate Buy” and an average target price of $75.06.

Exact Sciences Price Performance

Shares of NASDAQ:EXAS traded down $1.75 during mid-day trading on Wednesday, hitting $51.48. 4,689,229 shares of the company traded hands, compared to its average volume of 2,310,664. The company has a quick ratio of 1.98, a current ratio of 2.12 and a debt-to-equity ratio of 0.72. Exact Sciences has a 12-month low of $40.62 and a 12-month high of $79.62. The stock has a 50-day moving average price of $66.76 and a two-hundred day moving average price of $56.55.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The business had revenue of $708.66 million during the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, equities research analysts expect that Exact Sciences will post -0.87 EPS for the current year.

Insider Transactions at Exact Sciences

In other news, EVP Brian Baranick sold 929 shares of the stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.36% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Huntington National Bank lifted its stake in 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 in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Exact Sciences in the 2nd quarter valued at about $29,000. Capital Performance Advisors LLP acquired a new stake in Exact Sciences in the 3rd quarter valued at about $35,000. Vestor Capital LLC acquired a new stake in Exact Sciences in the 3rd quarter valued at about $46,000. Finally, V Square Quantitative Management LLC acquired a new stake in Exact Sciences in the 3rd quarter valued at about $47,000. 88.82% of the stock is owned by hedge funds and other 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.