Exact Sciences (NASDAQ:EXAS) Price Target Raised to $85.00

Exact Sciences (NASDAQ:EXAS) had its price target increased by Jefferies Financial Group from $84.00 to $85.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 56.14% from the stock’s current price.

A number of other equities research analysts have also commented on EXAS. 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 research report on Wednesday. Robert W. Baird lowered their price target on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research report on Wednesday. Piper Sandler increased their price target on Exact Sciences from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, September 12th. Benchmark lowered their price target on Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Canaccord Genuity Group lowered their price target on Exact Sciences from $95.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, Exact Sciences has an average rating of “Moderate Buy” and an average target price of $75.06.

Exact Sciences Stock Down 23.9 %

Shares of NASDAQ:EXAS traded down $17.07 during trading on Wednesday, reaching $54.44. 11,164,710 shares of the stock were exchanged, compared to its average volume of 2,568,616. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.17 and a quick ratio of 1.98. Exact Sciences has a 1-year low of $40.62 and a 1-year high of $79.62. The stock has a fifty day moving average of $67.27 and a two-hundred day moving average of $56.67. The firm has a market cap of $10.06 billion, a price-to-earnings ratio of -56.71 and a beta of 1.27.

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

Insider Transactions at Exact Sciences

In other Exact Sciences 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 value 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC boosted its stake in Exact Sciences by 1.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,261 shares of the medical research company’s stock worth $651,000 after purchasing an additional 158 shares during the period. Daiwa Securities Group Inc. boosted its stake in Exact Sciences by 1.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 11,947 shares of the medical research company’s stock worth $825,000 after purchasing an additional 200 shares during the period. Amalgamated Bank boosted its stake in Exact Sciences by 2.7% in the 2nd quarter. Amalgamated Bank now owns 10,937 shares of the medical research company’s stock worth $462,000 after purchasing an additional 284 shares during the period. Midwest Professional Planners LTD. boosted its position in shares of Exact Sciences by 12.3% during the 1st quarter. Midwest Professional Planners LTD. now owns 3,088 shares of the medical research company’s stock valued at $213,000 after acquiring an additional 339 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Exact Sciences by 92.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock valued at $49,000 after acquiring an additional 340 shares during the last quarter. 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.