Bank of America Lowers Exact Sciences (NASDAQ:EXAS) Price Target to $72.00

Exact Sciences (NASDAQ:EXAS) had its price objective cut by Bank of America from $75.00 to $72.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the medical research company’s stock.

Other equities research analysts have also recently issued reports about the company. Benchmark dropped their price target on Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Craig Hallum decreased their target price on Exact Sciences from $82.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Robert W. Baird cut their price target on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Raymond James reissued a “market perform” rating on shares of Exact Sciences in a report on Thursday, September 26th. Finally, William Blair restated an “outperform” rating on shares of Exact Sciences in a research report on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.94.

Exact Sciences Stock Down 2.0 %

Shares of NASDAQ EXAS opened at $61.25 on Friday. 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 0.72, a quick ratio of 1.93 and a current ratio of 2.12. The business has a fifty day moving average of $62.73 and a two-hundred day moving average of $56.72. The stock has a market cap of $11.34 billion, a PE ratio of -52.35 and a beta of 1.24.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (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 net margin of 7.95% and a negative return on equity of 6.17%. Exact Sciences’s quarterly revenue was up 12.8% on a year-over-year basis. As a group, equities research analysts expect that Exact Sciences will post -1.13 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Kevin T. Conroy purchased 19,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were acquired at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the transaction, the chief executive officer now directly owns 1,074,191 shares of the company’s stock, valued at approximately $55,159,707.85. The trade was a 1.85 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, EVP Brian Baranick sold 929 shares of Exact Sciences stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total transaction of $65,030.00. Following the transaction, the executive vice president now directly owns 12,758 shares in the company, valued at $893,060. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by company insiders.

Institutional Trading of Exact Sciences

A number of large investors have recently made changes to their positions in EXAS. Huntington National Bank grew its stake in Exact Sciences by 838.1% in the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 352 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in shares of Exact Sciences during the second quarter worth about $29,000. RPg Family Wealth Advisory LLC bought a new position in shares of Exact Sciences during the 3rd quarter valued at about $34,000. Capital Performance Advisors LLP bought a new position in shares of Exact Sciences during the 3rd quarter valued at about $35,000. Finally, Vestor Capital LLC acquired a new position in shares of Exact Sciences in the 3rd quarter valued at approximately $46,000. Institutional investors 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.