Stifel Nicolaus Cuts Exact Sciences (NASDAQ:EXAS) Price Target to $67.00

Exact Sciences (NASDAQ:EXAS) had its price target decreased by Stifel Nicolaus from $82.00 to $67.00 in a report issued on Wednesday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the medical research company’s stock.

Other analysts also recently issued reports about the company. Robert W. Baird reduced their price objective on Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research note on Wednesday. TD Cowen cut their target price on Exact Sciences from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday. The Goldman Sachs Group lowered their target price on Exact Sciences from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday. BTIG Research lowered 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. Finally, Sanford C. Bernstein increased their target price on Exact Sciences from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $75.06.

Exact Sciences Stock Performance

Shares of EXAS stock traded down $1.75 during mid-day trading on Wednesday, hitting $51.48. 4,689,229 shares of the stock were exchanged, compared to its average volume of 2,310,664. The stock’s fifty day simple moving average is $66.76 and its two-hundred day simple moving average is $56.55. Exact Sciences has a 12-month low of $40.62 and a 12-month high of $79.62. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.98 and a current ratio of 2.12.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The company had revenue of $708.66 million for the quarter, compared to analysts’ expectations of $716.80 million. Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. Exact Sciences’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, research analysts forecast that Exact Sciences will post -0.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Brian Baranick sold 929 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the transaction, the executive vice president now directly owns 12,758 shares of the company’s stock, valued at approximately $893,060. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.36% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Exact Sciences by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 17,740,092 shares of the medical research company’s stock worth $1,225,131,000 after buying an additional 180,341 shares during the period. Capital World Investors raised its position in Exact Sciences by 74.4% in 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 purchasing an additional 5,557,168 shares during the period. William Blair Investment Management LLC purchased a new position in Exact Sciences in the second quarter valued at about $163,896,000. Champlain Investment Partners LLC raised its position in Exact Sciences by 175.3% in 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 during the period. Finally, Armistice Capital LLC raised its position in Exact Sciences by 91.6% in the second 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.