Exact Sciences (NASDAQ:EXAS) Price Target Lowered to $75.00 at Canaccord Genuity Group

Exact Sciences (NASDAQ:EXAS) had its price objective cut by Canaccord Genuity Group from $95.00 to $75.00 in a report published on Wednesday, Benzinga reports. They currently have a buy rating on the medical research company’s stock.

EXAS has been the subject of a number of other research reports. The Goldman Sachs Group lowered their price target on Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday. Stifel Nicolaus lowered their price objective on Exact Sciences from $82.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday. Wells Fargo & Company initiated coverage on Exact Sciences in a report on Tuesday, August 27th. They issued an “overweight” rating and a $75.00 target price on the stock. TD Cowen reduced their price objective on shares of Exact Sciences from $90.00 to $82.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Raymond James restated a “market perform” rating on shares of Exact Sciences in a report on Thursday, September 26th. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $75.06.

Exact Sciences Price Performance

EXAS stock opened at $54.72 on Wednesday. Exact Sciences has a fifty-two week low of $40.62 and a fifty-two week 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 stock has a market capitalization of $10.11 billion, a price-to-earnings ratio of -57.00 and a beta of 1.27. The business’s fifty day moving average price is $67.14 and its two-hundred day moving average price is $56.65.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings results 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 business had revenue of $708.66 million during the quarter, compared to analyst estimates of $716.80 million. Exact Sciences had a negative net margin of 6.70% and a negative return on equity of 4.97%. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities analysts anticipate that Exact Sciences will post -0.87 earnings per share for the current year.

Insider Transactions at Exact Sciences

In related news, EVP Brian Baranick sold 929 shares of the company’s 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 completion of the transaction, the executive vice president now owns 12,758 shares in the company, valued at $893,060. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.36% of the company’s stock.

Institutional Investors Weigh In On Exact Sciences

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Exact Sciences by 1.0% in the first quarter. Vanguard Group Inc. now owns 17,740,092 shares of the medical research company’s stock worth $1,225,131,000 after acquiring an additional 180,341 shares during the period. Capital World Investors increased its holdings in Exact Sciences by 74.4% during the first quarter. Capital World Investors now owns 13,025,313 shares of the medical research company’s stock valued at $899,528,000 after buying an additional 5,557,168 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of Exact Sciences in the second quarter worth about $163,896,000. Champlain Investment Partners LLC lifted its holdings in Exact Sciences by 175.3% during the first quarter. Champlain Investment Partners LLC now owns 2,258,235 shares of the medical research company’s stock valued at $155,954,000 after purchasing an additional 1,438,010 shares in the last quarter. Finally, Armistice Capital LLC raised its position in shares of Exact Sciences by 91.6% during the 2nd quarter. Armistice Capital LLC now owns 1,400,086 shares of the medical research company’s stock valued at $59,154,000 after purchasing an additional 669,438 shares during the period. 88.82% of the stock is owned by hedge funds and other institutional investors.

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.