Craig Hallum Issues Pessimistic Forecast for Exact Sciences (NASDAQ:EXAS) Stock Price

Exact Sciences (NASDAQ:EXAS) had its price target reduced by Craig Hallum from $82.00 to $65.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the medical research company’s stock.

Several other brokerages have also weighed in on EXAS. Stifel Nicolaus decreased their price objective on Exact Sciences from $100.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Evercore ISI lifted their target price on shares of Exact Sciences from $72.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. The Goldman Sachs Group dropped their price target on shares of Exact Sciences from $88.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Robert W. Baird reduced their price objective on shares of Exact Sciences from $70.00 to $67.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Benchmark dropped their target price on Exact Sciences from $91.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Exact Sciences has an average rating of “Moderate Buy” and a consensus target price of $75.06.

Exact Sciences Stock Performance

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 debt-to-equity ratio of 0.72, a quick ratio of 1.98 and a current ratio of 2.12. Exact Sciences has a 52-week low of $40.62 and a 52-week high of $79.62. The company has a 50-day simple moving average of $66.76 and a 200 day simple moving average of $56.51.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) 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 company had revenue of $708.66 million for the quarter, compared to analysts’ expectations of $716.80 million. The business’s quarterly revenue was up 12.8% on a year-over-year basis. On average, research analysts predict 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 firm’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $70.00, for a total transaction of $65,030.00. Following the sale, the executive vice president now owns 12,758 shares in the company, valued at approximately $893,060. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.36% of the company’s stock.

Hedge Funds Weigh In On Exact Sciences

Institutional investors have recently modified their holdings of the company. Huntington National Bank grew its position in Exact Sciences by 838.1% during the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 352 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Exact Sciences in the 2nd quarter valued at $29,000. Capital Performance Advisors LLP bought a new position in shares of Exact Sciences during the 3rd quarter valued at $35,000. Vestor Capital LLC purchased a new position in Exact Sciences in the 3rd quarter worth $46,000. Finally, V Square Quantitative Management LLC bought a new stake in Exact Sciences in the third quarter worth $47,000. 88.82% of the stock is currently owned by institutional investors.

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.