Benchmark Lowers Exact Sciences (NASDAQ:EXAS) Price Target to $65.00

Exact Sciences (NASDAQ:EXAS) had its target price cut by Benchmark from $67.00 to $65.00 in a research note released on Wednesday morning, MarketBeat.com reports. They currently have a buy rating on the medical research company’s stock.

A number of other equities analysts have also recently issued reports on the company. Evercore ISI increased their price target on Exact Sciences from $72.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Robert W. Baird reduced their price target on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a report on Wednesday. Wells Fargo & Company assumed coverage on shares of Exact Sciences in a report on Tuesday, August 27th. They set an “overweight” rating and a $75.00 price objective on the stock. Sanford C. Bernstein increased their price objective on shares of Exact Sciences from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler boosted their target price on Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, September 12th. 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $75.06.

Exact Sciences Price Performance

Shares of NASDAQ EXAS opened at $51.48 on Wednesday. The company has a market capitalization of $9.53 billion, a PE ratio of -44.00 and a beta of 1.27. 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 twelve month low of $40.62 and a twelve month high of $79.62. The firm has a fifty day simple moving average of $66.76 and a 200 day simple moving average of $56.51.

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 the consensus estimate of $716.80 million. Exact Sciences’s revenue was up 12.8% on a year-over-year basis. On average, sell-side 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 stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the completion of the sale, 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 document filed with the SEC, which is available at this hyperlink. Insiders own 1.36% of the company’s stock.

Institutional Trading of Exact Sciences

Hedge funds have recently bought and sold shares of the business. Chicago Partners Investment Group LLC increased its position in shares of Exact Sciences by 1.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company’s stock valued at $651,000 after purchasing an additional 158 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Exact Sciences by 1.7% in the first quarter. Daiwa Securities Group Inc. now owns 11,947 shares of the medical research company’s stock valued at $825,000 after purchasing an additional 200 shares during the last quarter. Amalgamated Bank grew its holdings in Exact Sciences by 2.7% during the second quarter. Amalgamated Bank now owns 10,937 shares of the medical research company’s stock valued at $462,000 after purchasing an additional 284 shares during the period. Midwest Professional Planners LTD. increased its position in Exact Sciences by 12.3% in the first quarter. Midwest Professional Planners LTD. now owns 3,088 shares of the medical research company’s stock worth $213,000 after buying an additional 339 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Exact Sciences by 92.4% in the first quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock valued at $49,000 after buying an additional 340 shares during the period. 88.82% of the stock is currently owned by 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.