Exact Sciences (NASDAQ:EXAS) Price Target Lowered to $65.00 at Barclays

Exact Sciences (NASDAQ:EXAS) had its price objective cut by Barclays from $70.00 to $65.00 in a report published on Thursday,Benzinga reports. They currently have an overweight rating on the medical research company’s stock.

A number of other research analysts also recently commented on EXAS. Robert W. Baird lowered their price objective on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Jefferies Financial Group boosted their target price on shares of Exact Sciences from $84.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Benchmark reissued a “buy” rating and issued a $65.00 target price on shares of Exact Sciences in a research report on Monday, January 13th. Piper Sandler decreased their target price on shares of Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Finally, The Goldman Sachs Group decreased their target price on shares of Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.06.

Exact Sciences Stock Performance

Shares of EXAS opened at $49.51 on Thursday. The company’s 50 day moving average price is $55.15 and its 200 day moving average price is $60.03. Exact Sciences has a 52 week low of $40.62 and a 52 week high of $79.62. The company has a market capitalization of $9.16 billion, a PE ratio of -42.32 and a beta of 1.24. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12.

Exact Sciences (NASDAQ:EXAS) last announced its quarterly earnings data on Wednesday, February 19th. The medical research company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.23. Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The firm had revenue of $713.42 million for the quarter, compared to the consensus estimate of $701.45 million. Research analysts expect that Exact Sciences will post -1.1 EPS for the current fiscal year.

Institutional Trading of Exact Sciences

Institutional investors and hedge funds have recently modified their holdings of the company. Thompson Investment Management Inc. raised its stake in Exact Sciences by 17.8% during the 4th quarter. Thompson Investment Management Inc. now owns 241,774 shares of the medical research company’s stock valued at $13,585,000 after purchasing an additional 36,505 shares during the last quarter. WCM Investment Management LLC grew its holdings in shares of Exact Sciences by 1,153.2% in the 3rd quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company’s stock worth $12,388,000 after purchasing an additional 172,821 shares during the last quarter. Simplify Asset Management Inc. grew its holdings in shares of Exact Sciences by 67.5% in the 3rd quarter. Simplify Asset Management Inc. now owns 29,277 shares of the medical research company’s stock worth $1,994,000 after purchasing an additional 11,800 shares during the last quarter. Zacks Investment Management bought a new stake in Exact Sciences during the 3rd quarter worth about $2,083,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Exact Sciences by 59.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 335,705 shares of the medical research company’s stock worth $22,868,000 after acquiring an additional 125,192 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.