Exact Sciences (NASDAQ:EXAS) Price Target Lowered to $60.00 at Evercore ISI

Exact Sciences (NASDAQ:EXAS) had its target price cut by Evercore ISI from $80.00 to $60.00 in a research report released on Wednesday,Benzinga reports. They currently have an outperform rating on the medical research company’s stock.

EXAS has been the topic of several other research reports. Benchmark cut their price objective on Exact Sciences from $67.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday. TD Cowen cut their price target on shares of Exact Sciences from $90.00 to $82.00 and set a “buy” rating on the stock in a research note on Wednesday. Craig Hallum reduced their price target on shares of Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday. Wells Fargo & Company assumed coverage on shares of Exact Sciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 price objective for the company. Finally, The Goldman Sachs Group cut their target price on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, Exact Sciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.06.

Exact Sciences Price Performance

Shares of EXAS opened at $51.48 on Wednesday. The firm has a 50-day simple moving average of $66.76 and a two-hundred day simple moving average of $56.51. The stock has a market cap of $9.53 billion, a PE ratio of -44.00 and a beta of 1.27. Exact Sciences has a 1-year low of $40.62 and a 1-year high of $79.62. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.12 and a quick ratio of 1.98.

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 analysts’ consensus estimates of ($0.20) by ($0.01). The company had revenue of $708.66 million for the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. As a group, 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 firm’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.36% of the stock is owned by company insiders.

Institutional Investors Weigh In On Exact Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of EXAS. Landscape Capital Management L.L.C. increased its position in shares of Exact Sciences by 9.3% during the third quarter. Landscape Capital Management L.L.C. now owns 26,491 shares of the medical research company’s stock worth $1,805,000 after purchasing an additional 2,265 shares in the last quarter. Intech Investment Management LLC lifted its stake in Exact Sciences by 3.5% in the third quarter. Intech Investment Management LLC now owns 11,986 shares of the medical research company’s stock valued at $816,000 after buying an additional 402 shares during the last quarter. Grandfield & Dodd LLC grew its position in shares of Exact Sciences by 30.2% during the third quarter. Grandfield & Dodd LLC now owns 103,999 shares of the medical research company’s stock worth $7,084,000 after acquiring an additional 24,103 shares during the last quarter. EULAV Asset Management increased its holdings in shares of Exact Sciences by 7.0% in the 3rd quarter. EULAV Asset Management now owns 305,000 shares of the medical research company’s stock valued at $20,777,000 after acquiring an additional 20,000 shares during the period. Finally, Advisors Asset Management Inc. raised its position in Exact Sciences by 1.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 28,650 shares of the medical research company’s stock valued at $1,952,000 after purchasing an additional 402 shares during the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.

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.